rage 30, TlflS DAY, Vo l. 16 No. 5923
Tuesday, July U , 2011
news
8 SusinessWORLD
Brass LNG Project to Generate 7,000 Jobs on Completion
T
he Brnss Liquefied N3llDo1I Gas (LNG) projl:c! will generntc
[
I
ENERGY
aboot 700) dUa1
employments for Nigerians ..'11m it is e\'mtllally compIcfcd in 2014 . llUSOAY canatKhcri· cllhody repon. This comes as the 0Wrman of the rornpilllY. Dr. Jocksol1 GlIius-Otmcki declared til its 7th AnmaI Gcneral Meeting(AGl>.1) ~y in Al::uja Ihal the FtnaI '"'~ Ikci5ion (fID) on Itx: Oms LNG project ill ..ithin the \lcw of the rompany Md 1M)' be tJkcn in 1XcmJ~ 20 II . Gaius-Obaseki explained that the project's AD ......hic:h had bm1 held bad: by SC\l:r.\I challenges mnging from the pRXJ:SScsofseJecting(X)ltlr.JCfcnforand
From ChillemI! Okafor 1oo,u.jJ
ismara: or invitatioo to lender as well lL'lCOf1ll11e!t:ial ~bid for Iht: project :wi availability of C%DIgh gas fccdslock hin-e been !C'i1OI1-m. thus, pwing the way for-the AD. He IOkl the mrpmy's bcmI thal an O\-mill intc:grutcd I!1aSICf ~Ie for Ihe had bc:01 llJXI;ltcd 10 asoert&n ~, risk3 and mitigations and dd ilS IaIIC5l mic:w indicaIcs !hal the AD may now wd1 be within the ~ d the: company by the: end
proF
0(2011. Aanding IO him,d!::spiIcthe delays in the execution 3nd riming of die AD fa- B~ LNG, the process is srill within the irdusuy st:nbd fa- a project of ilS complc:xity \.\hich is usually between four 10 m-e)"I!:U!i Ilum birth to AD. He added Ih:d carli:r iIlltmpl5 aI concluding the sdn:tion ci ron!r.JCIOfS for imilation 10 lender- h3d failed in Dettmbcr 2008duc: 10 the boord's rejt-dion of single 5OUI'cing fa- a oontr:lCl of 9JCh magnitOOe. \Vhen completal.1he project \.\;11 in a quO: ~w'OOp boost the: economic: plans d dE Fede,",.1 {jo\ttnrnc:nI 10 equitably nm· imiJelJpponunities in Ihcoil and gas indllSU)'lOgeneQte tnaSSr.-e
ERHC Energy Signs PSC on 3 Oil Blocks in Chad
E
RHC Energy
'1ICOfJlOf'llOd
has said il signed a ProdUCIioli Sharing ContrnO (PSC) on the IM:e oil bk:d.s fomlally .....-anb.I 10 the a:rnpany 1ast week by !he Rqw.JblicofOud. ERHC has 100 (Xfttr1l il0esl
in Iwo blocks - BDS 2008
~~~:.;:~;;::.~ Block 3. Q\ic:f Executive 0fT1CCf oflhe t'OI11p3IIy, Mr. I"cll:r" NtqJhe said
"«kmd
ill I satement 31: the tho'll 11.1'0 of the BIoc:k.~
- DDS 2008 and Chari-QQI Block 3.
lie tle.(1 10 the IJob.l Basin oilfield ....."hid! In 2010 had an a\W• daily production of 122.500 barrels of crude oil perda),. Ntcpthe. who said !he r. langa block is nooh of Lake- Chad, along the bort\erwith Niga-.aJso altrihlted the soo::c::Wul signing or the PSC 10 comrnaIdabIe ..'-"!t by ERIK's ~ing IC:un of qaJ . ledmicaJ lind futanei:ll aperts led b)' ERHC's financial om~r, r.Ir, Syll'lln Odobuill. " The annoullC."c:ll1c:f\t today of
Ihe prnductioo sh:Jring conlfllCl iIIt.l5tr.1c:5 ERJ IC's aJn1Illitrnenl loward !he enhancemenl of sh.'IId1oIdc:r I'liluc. We are j'Iroud of altaining yet another 1mI'u1t· able milestone as II-e add 10 our I'..lplornlion ~ in Afria. We klok forwaro to 'Aurtting quickly hi closely with the authoritic:s in Chad IOW8n:I a mutuall y beneficial aplor.uion programme:' he said l'he West Afril.OUl Republic of Chad is one of slIMiahar:m Africa's signiflCOllit crude oil producc:rs. lt5h;Jn::s bon:Im willl Nigeria and Lib)'lI. which IR: Africa's bugc:sI oil and gas pro-
En!rgy Ed 'tor
Maritimt Edilgr
.....
JOHN ''''"' Agribusill§5 & !ndut1tY
The CUltr.Ja for !he front erd cngincrring and design of the Brass L1'.'G project was awarucd 10 lkchIei Corporntion in Inre 2CX)4. Thi s foUowed thccompJc.. lion of the conccpruaI stud~ thai. ~ the \iability of bJilding III onshon:: Li:pJefai N;JbJraI Ga"i facility in the n:gion of the BtaU Oil TennimI qJeI"aled by Iht:: Nigai:l'l Agip Oil Company, Gaius-Otn';eki mctd at the AGI\ I thai: '''The pi attain· ing the AD is \U)' much in !he vieIIo' of the board. rnanagoncnt and smff d the: company ;n:I we oontinuc to gr.-e posith-e stecJ 10
.....
The Brass LNG poject:. wid1
on egjmnted poduc:tion ctpiII=i· Iy of 10 millioo Ioones per amum, \.\iDbethe:.secuxI major Iiqudied nann! gas pojcd in the a:J.IIIIl)', witt! the: 22·millioo lonne Nigeria LNG project being the. first , The Nigerian N31ional -~(NN1q
or
ldds 49 per cent intercsI: in the project: Ieavil1g Olha- partnm like Eni willI 17 per oc:nt, Conxo Ph[IJips, 17 p:rlDll and Total. 17 per cenl. The NN~
HE IR
shard10kbs ~11o aWg
sharcholdm in adjusting tI-.c: Ieo.d of vi:ttility of the project and its readiness for AD :tOO 11M aiding you in taking !he ~ derisions. the m:magcnJCIII is al50 engaging relc:· \"301 stakeholders III !he ~ men! 011 fISCal lind ta" issla f«
thcJrojcd."
URN • • •
~
ERHC's fll13flCiai officer, Mr. Syh'lll1 Odob.IlLl, had led a leam
or 1egal.l«hnical and linan::inl apc:ns in ~iating die prodlJction sharing ('()[\tr.JCl on Ix:halforERJi C.
1his is anoth::r SigTIifa nt nillcsonc: in !he n-rn:uitabIe hisroryofERHC. Atmng the inde-pc:ndc:nts oper:Iling in Africa. we are already one of the largest I10kIeB of e.~ plorntion ~ge5 in Ic:rm!i of nLlnm and Mzr of bIocbi. This new 3waro inauses our holding coniidmbl)' while also stmtegic:ally dh'efSl' fying our ponfolio beyond the Gulf ofGLlinc:a," Ntephe s:Ud. Apart from \he new award. ERNC curmll.ly hokIs \.\llI1dng inIerc:sIs in six blocks in d-.c: N"~ 1brnf & Prfncipe Joint De\-eloprnenl Zone ("JDZ'). ERHC also holds 100 ptn:cntofBlocks43nd l l ofthe sao Tom! &; PrCncipe Exclush-e &ooomic Zotr (EEZ) \.\1th an <¥ion 10 acquire up 10 IS pet. a!nl worting il1leR:St'l ~EEZBlocks.
in two
-
GCIXJ' " " ' "
RN£Bt NQt~U
(~&A~
emnPQ!!dm!s a.ElUm~
NNAAO DI.RU (i'Ilua'mA!rl:sol,l l.NlA ERO<E IlIt.a.rl
~om!T!tl!!lca!ions &
EROt.tOSEl..E ABIOClUN ~ A.IM) EJIClf"OR AU<E (Ene.w;I .w.ES EMEJO {NIim's ~
t:8nsjness Esli10r 'fEM "'-'NGA
06N-IA CI-IfM (I.bIey SMlAt'EGEE ~ Edb)
CRUSOE OSAGIE
GO\'enlITIen1.
IT1llf13FTICt1I in this regard oot the m-erall integraled master sct.:du1c for the project was ~y L1pd31U1 10 I:Sttrt3in fEW mks and miriplions and its ~ ~ shows thai AD rnav now be \.\'ell \.\'ilhin (JUf rc:adt by dtis )-e.vend. "A d:uabase for the AD &xi. sioI1 suppm package has been C'rc::3.\I:d and it contains the \"3ri. 0lJ5 documm:s pr-esaibxl by Ihe
West Afria, last week nn~ thal!he gQI~mel1l of the: RepublicofChad had for· m:illy awarded the company thl'eC oil blocks for e.~ and dc:\-eIopmcnL
Stn!pr Ctmsp]ndrrr!s
CHlKAMW-lZE-NWACHl/KU
Stare
01."Id h."IS ptu'VI oil l'eSM"eS of 1.5 billion bam:ls with srudies establishing lhe prospec'I of rnoredisc-O\--c:ric:s. ERHC Energy 1ncorpor.staI, whidl bas oil and gas awu in
[)fouty Group Businm ~
Ba)-elsa
Wa::rs,and with Camaoon and
Capj!I! M!rb! Edtor
ABIt-,18OlAAKOSLE FIW<OIS""""""
the
Sudan. which bach pOOwe oil.
Group Busineq Ed"tq
KlN.E_
(0
By Ejiof or A like
trne'lBtlSinessTEAM ~.----
pl3rt5 to ghe 10 per
cent 001of its 49 p:r am inll:!"'
est
l
THI f}DAY ,
~"e\~
empIo}mcnt fer' Nigeria. n ·lISDAY also gatheml that the company will in line 'Aidl m:ctll IqlUlaliatt in Nigeria's oil 3nd gas industry: ill1{lleme01 the local contolI. Act III ilS qxn-
Mi."
FAO Budgets $1.006bn for Repositioning
~
and AgriaJlllIte Organisation(FAO),s 101" ~ming
Conferel1C'e
has L1nanimously IIppnTo-ed a rc:p11::1f progrnmmc bJd!d of S1.006 billion fer' d-.c: organisa. lion for the 20 12 and 13 bienni· wn, c-qur."aIent 10 a I A plT crill increase: O\~ the tur=1I bicnni-,m. FAO said in II stau:ment 10 nnSDAY Ihlll thebJdgce prolidt:tI fOf fLlII implc:mclltaOOn of II-.c: proposed programme of WOIt as wtll M the irnmediaJe Plan of Actioo for FAD mle.....1Il. Rc:copUsing the need for FAD's progr.mmes (0 be fin:qlcially prD(c:cted. 1\ lembers called on the ~or~ 10 maJ.:e cfficicflc), g~ins and Olll" un-.c:· §aVings ofS34.s million be)'oOO the t'COOOITties Ih31 he had a1~' pogr.unmed.
The: Of!ani.salion said the: Ic-.'I!I of the budget and its unaoilT\OU5 adoptton was ('IJIIS~ an C):~ion of conlidcnt:e in Ihe OI!anisalion by Ihe Confcmn, which last week elcac:d JIK Gmziam d:I Sih 'll, a Brazilian. 10 be the nell Dircaor-Gencral. starting on I J:lllUaJ)' 20 12. In additi0l1. FAO expeclS some: 514 billion of \uluntaty contribulions from nrmbrrs ~~o\"ft"thelle.'t~n.
mum.
I
A G RIC
I
The fact thai such C):!r.l-b.tdget."lI)' n:5Ol.OC'eI ao:led the regL1lar bJdgct is n further evidence of Members' ronfKknce in tI-.c: Orp:anisalion, tI-.c: Dirttlor Gmer.t.I (00). FAD. Jacques Diouf said in his cloJing 5f1'CCh at the eoofc:rc:na:. liailing Diot'f~ "rc:matkable adtie\'mII!I\ts in ~ ('(IU~ of his d\feC SUt'CeSsfLlI !=lIS" lIS 00, the Coofcn:nce announced th:Il follO\.\'ing tI-.c: recommenda· tion of the 2<Jlh F/\O Region.'lI Confc:rc:na: for Africa (Angola, 4-7 t.l:l)' 2( 10), it has est."Ibliskd a "J:K'CJI.ti Diollf Av;:wd (or Food Security" as a conlinu· ing tribute 10 his 51ewanhJ1ip of the OrganiSillJOll, The S25 (XX) doll;v prUr; will
: ~:r,;~-carsa:.
sidcm;l by the Selection Conm1itlC'e a.~ having made the ITlO$l ~ignmcanl contribution to the inIPJO'·en.ent of pobaI food ~. in the lR\·ious bic:nni.
,m.
In a resolution the Conferera It'ClIIJed "!he emi· nent ~·ices ~ndmrl by Oiouf 10 d-.c: Orgal1i5.·\Iion, O\~ a peri. od dwtJ1g 'Ahlch ~ \.\llrid was faced with food in..<ec\lrity. food ~ inslabml~ and clim3te dw~ ~ges ?f.cxcrp:ion.
aI maplitudc and ~ted rompbity.-
Undc:r Dioufs guicbnr:t:-.IIE 0rpnis0JIi0n has taken major steps ia-'-mUs rmving ~ problems by ensuring that agri· cultun:: is back on the gIotxIl agenda. the resoILltioo said. It also underlined the DG's "strong commitment 10 reform and the initiatives taken throu~houl his lenLlre to enhance the Org.1nil.1tioo'S capacily 10 bcuerplay ilS part In defeating t..mger 81d attaining food security," and ~ the eonfamce's "drrp p. rude ._ for hIS ool!ibfding ser· \ices to till! 0rganlzaIi0n and his IIIIfailmg dc:dkatiun to the aims and ~lsorFAO." .5qxIr;uc: tribt.ttcs and ~ (0 Diouf. who is ~pping dQo.\lI 011 31 IXttmber afler 18)-can lJloffice.Wc:real50c):~by
individual member countries and by Pupe Benedict XVI when he recer.'e'd Confl:mlCe delegates last Frid.1y, Th:: Pope C'OIT1I1Yfdo:f!he DGl"s "CQ'Tlpctc:nce and dc\l)-lion, 'A hid! C'II3bIetl FAD 10 f.n problems and crises strnvnin! from changing global realities th:Il alfec1ed ilS fiCld of ~vities in a sometitneS dramalic man·
.. In
~
a Slatement (0 IIr MaJtam Eldon .
ClJllf~,
general secretary or the Union of
General Service Staff, eJ;prt:1Yd apJft'Ciation f« " 18 )'e3IS or tirdc:ss ser·..ice". lhroughoul lhe ycars of doYo"nsi7j ng. rrorgnnisatioo and clecenlr.llis.1Iioo. Diouf tool.:: GlI1: that. changes \\-ere mtroduced in \.\"3)"$1hat woe least detrimenul 10 SI3ff. and \.\-e thank him for thai ~itn·ity: she: sad.soea1· ing also on behalr o( tI-.c: Associatioo of Professionals in FAO. A funhcr tribure carne from the Philippi~. \\ hictI C1Irried 01.11 tI-.c: exu:malllUdit on FAD's ftRall('ial nalen-.c:nlS for lhe 2008-1009 bienniLlm,the l:lSt 10 be tXnif-.c:d. Philippines dele· gDle, &gf"rcdo Scttano noted lh3\. "Under Dioofs 1eadmhip FAO reform 1m L11tdc:rtakcn man)' painfLlI but forward-looIc· ing changes 10 ~'itafue the Or!aniwion, Sometimes thcI"C arc: fnmk disruss.ions and di-"CI"' gent vieu."$ on FAO r~fonn issues IAA Dr Diouf has a1\.\'lI)'S faithfully irnpIementtd the do:j. sions of the goo.~ing txxIies" Frc:rdJ Agricul~ I\linist.C'I", Bruno I...c M~il'e lold lhe Coofoma: he: Wt!-hed 10 IIli1ltk the DG "for tI.: quality of hi~ work he accompli9led dwin~ 17 ~-e3fSofservnlO'A«Id food scarril~ and planet's Ih: :tgricul·
.. .~r:u_~~ ....... _..
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