Home / News / Local / SNEPCo’s performance excites partners …as company publishes its deep-water journey

SNEPCo’s performance excites partners …as company publishes its deep-water journey

 


L-R: Delivery Integration Lead, Shell Nigeria Exploration and Production Company (SNEPCo), Solape Akinola; SNEPCo’s Managing Director, Bayo Ojulari; Group Managing Director of NNPC, Maikanti Baru; and General Manager, Business and Government Relations of Shell Nigeria, Bashir Bello, at the recent presentation of the book: ‘In Pursuit of Excellence’ a compendium of SNEPCo’s deep offshore story and feats to the leadership of NNPC in Abuja.

The government partner of the Shell Nigeria Exploration and Production Company (SNEPCo) has showered encomiums on the firm for its pioneering role in the deep-water sector of the Nigerian oil and gas industry.

Group Managing Director of NNPC, Maikanti Baru, described SNEPCo as a clear leader in deep water whose performance is exemplary.

“SNEPCo is a trail blazer. They set the pace with the Bonga FPSO, being the first deep water exploration business in Nigeria,” Baru said at the presentation to him of ‘In pursuit of Excellence’ a publication of SNEPCo detailing the company’s entry into the offshore exploration in the Gulf of Guinea and how the venture has brought so much benefit to Nigeria and Nigerians in local capacity development and the growth of support industry, among others.

Managing Director of SNEPCo, Bayo Ojulari, who presented the 90-page book to the NNPC leadership in Abuja said the company was mindful of its pioneering role in deep-water exploration in Nigeria and would want others to learn from Shell group technical expertise to make Nigeria a leading oil and gas producing country.

“We have documented lots of our efforts which opened up Nigeria’s deep water and have contributed largely to the country’s oil revenue,” said Ojulari who restated SNEPCo’s continued commitment to positive impact on Nigeria’s economy and the socio-economic welfare of the people through sustained social investments in education, health and sports.

The company, with over 95 percent Nigerian staff, helped create the first generation of Nigerian deep-water oil and gas engineers and recently celebrated the 800-million-barrel mark in 13 years of operations.

In recognition of its pioneering initiatives in Nigeria, SNEPCo was in early 2018 honoured as the best Nigerian oil and gas company in technology and innovation at the maiden edition of the Nigerian International Petroleum Summit (NIPS) held in Abuja for pioneering in-country Subsea Tree Refurbishment, a remarkable feat in local capacity potential which resulted in significant savings. This was the first time in the Nigerian oil and gas industry that a Subsea Tree was fully stripped down and refurbished locally with all its original functionality restored.

The FPSO vessel’s capacity was upgraded in recent years, allowing SNEPCo to expand the field with further drilling of wells in Bonga Phases 2 and 3 and through a subsea tie-back that unlocked the nearby Bonga North West field.

SNEPCo operates OML 118 under a production sharing contract with NNPC. The co-venture partners in OML 118 are Total E & P Nigerian Limited, Nigerian Agip Exploration Limited and Esso Exploration and Production Nigeria (Deepwater) Limited.

 

 

 

 

 

 

 

Media Relations Manager

March 10, 2019

Softphone:  +234 807 022 8045

Website:      www.shell.com.ng

    

 

 

Cautionary note

The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate entities. In this announcement “Shell”, “Shell group” and “Royal Dutch Shell” are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this announcement refer to companies over which Royal Dutch Shell plc either directly or indirectly has control. Companies over which Shell has joint control are generally referred to “joint ventures” and companies over which Shell has significant influence but neither control nor joint control are referred to as “associates”. In this announcement, joint ventures and associates may also be referred to as “equity-accounted investments”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in a venture, partnership or company, after exclusion of all third-party interest.

This announcement contains forward-looking statements concerning the financial condition, results of operations and businesses of Royal Dutch Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Royal Dutch Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘goals’’, ‘‘intend’’, ‘‘may’’, ‘‘objectives’’, ‘‘outlook’’, ‘‘plan’’, ‘‘probably’’, ‘‘project’’, ‘‘risks’’, “schedule”, ‘‘seek’’, ‘‘should’’, ‘‘target’’, ‘‘will’’ and similar terms and phrases. There are a number of factors that could affect the future operations of Royal Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this announcement, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; and (m) changes in trading conditions. All forward-looking statements contained in this announcement are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Royal Dutch Shell’s 20-F for the year ended December 31, 2017 (available atwww.shell.com/investor and www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this announcement and should be considered by the reader.  Each forward-looking statement speaks only as of the date of this announcement, March 10, 2019. Neither Royal Dutch Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this announcement.

We may have used certain terms, such as resources, in this announcement that United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC.  U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov. You can also obtain these forms from the SEC by calling 1-800-SEC-0330.

 

 

 

 

Please be informed that any personal data submitted and handled as a part of the Shell business relationship with its customers, supplier or partners is processed in accordance with the Shell Global Privacy Policy – Business Customers, Suppliers and Business Partners available at the relevant webpage under the domain www.shell.com, as supplemented by any further specific and/or local privacy statements. For any queries or concerns regarding processing of your personal data, please refer to the Shell Global Privacy Policy – Business Customers, Suppliers and Business Partners or contact your relevant Customer Service Centre.

[Message clipped]  View entire message

Attachments area

About Global Patriot Staff

Check Also

COZA: Bisola, Timi Dakolo invited by Police to aid investigation  

The Nigeria Police Force has confirmed that it has invited Bisola and Timi Dakolo as …

Leave a Reply

Your email address will not be published. Required fields are marked *