Page 2 - Kaztec Engineering News Today

Interrogating the NNPC/Addax face-off over oil mining leases [opinion] On By Meifor Igwe IN contemporary Nigerian business context, oil mining leases are like the gold fish that cannot be hidden. And that is why oil mining leases 123, 124, 126 and 137 made headline news 23 years ago and they are back in the media space creating waves once again. They hold huge potential for Nigeria and everyone and can, therefore, not remain idle! It is a fact that in 1998, the Nigerian National Petroleum Corp...

The Kaztec/Salvic consortium stated that the Department of Petroleum Resources (DPR) deserved to be commended for doing due diligence and following relevant laws in making them the choice operators of the assets.

Senator Magnus Abe The lack of investment in the oil field granted to Addax is said to have caused a great loss to the economy, Director, Nigerian National Petroleum Corporation (NNPC), Senator Magnus Abe, has said. Abe, who was reacting to an online story, said the Department of Petroleum Resources (DPR) was right in its recommendation of a revocation of the mining leases issued to Addax in the national interest. In the said online story, entitled: “Petroleum Minister, cronies plot kangaroo ...

ON THE GO Police warn against Yoruba nation rally in Ogun The police in Ogun state say the planned rally to promote the concept of a Yoruba nation, scheduled to hold in Ogun state on May 1, is not approved by... Insecurity: Oyo to deploy Man O’ War operatives to schools The Oyo government says it will deploy Man O’ War operatives to primary and secondary schools across the state to beef up security.Advertisement Seyi Makinde, governor of Oyo, disclosed this... India report...

Vanguard News New operating consortium promises Nigeria better value from 4 oil assets On By Innocent Anaba Kaztec Engineering Limited and Salvic Petroleum Resources consortium have promised to offer Nigeria better value in terms of increased revenue, local content boost, and more employment opportunity as they take over the operatorship of the Oil Mining Leases (OMLs) 123, 124, 126 and 137 previously operated by Addax Petroleum. The new partners also disclosed that they have commenced engagem...

By Perry Okolugbo In 1998, the Nigerian National Petroleum Corporation (NNPC) entered into a 20-year Production Sharing Contract (PSC) in respect of certain oil mining leases (OMLs) with Addax Petroleum, a company listed on the Toronto Stock Exchange (TSX). The PSC was subsequently extended for a further four years, until 2022. The assets were OMLs 123, 124, 126 and 137. Under the PSC, Addax fully funded and operated the development of the OMLs, with profit shared between Addax and NNPC. From 1...

By curiously questioning the wisdom of President Muhammadu Buhari, who is also the substantive Minister of Petroleum Resources, in canceling the revocation by the Department of Petroleum Resources (DPR) of four oil mining leases belonging to Addax Petroleum Exploration Nigeria Ltd., Senator Magnus Abe goofed and exceeded his brief. Here is why.

Addax: Senator Magnus Abe goofed Senator Magnus Abe Wed Apr 28 2021 By curiously questioning the wisdom of President Muhammadu Buhari, who is also the substantive Minister of Petroleum Resources, in cancelling the revocation by the Department of Petroleum Resources (DPR) of four oil mining leases belonging to Addax Petroleum Exploration Nigeria Ltd., Senator Magnus Abe goofed and exceeded his brief. Here is why. In a position that can only be interpreted as second-guessing the President, Senato...

In 1998, the Nigerian National Petroleum Corporation (NNPC) entered into a 20-year PSC (Production Sharing Contract) in respect of certain oil mining

ON THE GO Wike on insecurity: Governors only running to Abuja to take photos with Buhari Nyesom Wike, governor of Rivers, says some of his colleagues are only running to Abuja to take photographs with President Muhammadu Buhari, instead of tackling the challenges in their states.... Protect dams in Niger, audit military assets — Reps recommend 11 steps to tackle insecurity The house of representatives has recommended 11 things Nigeria must do to address its growing security ...