San Leon Energy Share Discussion Threads

[linksdean2] 06/4/2017 23:15

Divestment of assets to local E&P firms a blessing in disguise for oil sector – SPE

Apr 6, 2017




The Chairman, Society of Petroleum Engineers (SPE), Nigeria Council, Dr Saka Matemilola, has said that the divestment of assets by IOCs is a blessing in disguise for the industry as it has paved the way for the emergence of competent local oil companies such as Seplat, Oando, Aiteo among others to produce about 180,000 barrels of crude oil per day, representing between eight and 10% of Nigeria’s total oil output, The Nation reports.

Matemilola said: “The assets that were taken over by local operators are producing well. The performance of those assets have been either doubled or tripled by the indigenous oil companies that bought them from the IOCs. This is an indication that when local operators are given the opportunity, they would do well. When opportunities in the nation’s oil and gas sector increase, it is a plus for the economy.”

According to him, divestments have opened doors for local oil companies. He noted that the development has enabled them acquire technology and expertise needed for oil exploration and production. He said no organisation can lay claim to technology, adding that both local and foreign firms can now boast of technologies that are highly sophisticated in the industry. He also added that the local companies are now capable of operating well without expatriates.

[linksdean2] 06/4/2017 19:01

in your case drown with your sad lonesome low life and take your loss and lies with you!..figa!!

[triple seven] 06/4/2017 18:48

Says the biggest loser I know on this share 90k and more because loser of that size always makes out its less just to please himself .