Home Business OML 17 ; Tony Elumelu Says Niger Delta Deserves More

OML 17 ; Tony Elumelu Says Niger Delta Deserves More

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Business man, Entrepreneur and Chairman of Heirs Holdings, Mr Tony Elumelu has again restated his commitment to doing more for the Niger Delta region after his firm, Heirs Holdings’ unconditional acquisition of a 45 per cent participating interest in Nigerian oil licence OML 17 and related assets.

Njenje Media News reports that he made this known on his Twitter page in a Tweet-thread on Monday as his first public reaction to the latest milestone.

He tweeted;

“TNOG Oil and Gas presents a historic, defining moment for Nigeria. It demonstrates renewed investor confidence in the Nigerian economy, reassures global investors of the nation’s untapped investment opportunities, and affirms our commitment to improve lives and transform Africa,” Mr Elumelu said.

“TNOG Oil and Gas OML17’s current production capacity is 27,000 barrels of oil equivalent per day and 2P reserves of 1.2 billion barrels of oil equivalent, combined with an additional 1 billion barrels of oil equivalent reserves of further exploration potential.

“Led by a board and management with deep expertise in production, exploration, and value creation in the resources sector, TNOG Oil and Gas is committed to the highest standards of safety, health, & community relations, with best practice in governance.

“As an indigene of the Niger Delta, I have always believed that the region needs and deserves far more. At TNOG Oil and Gas, our guiding philosophy of Africapitalism underscores our commitment to inclusive development & shared prosperity with our host communities.”

Njenje Media News reports that the latest acquisition is one of the largest oil and gas financings in Africa in more than a decade.

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