NDEP Plc Newsletter

As the countdown begins to NDEP’s 10th Anniversary, Q2/Q3 has been a busy period for the company. Take a look at the latest edition of the newsletter to see what's been going on…
 First Delivery of Ogbele Diesel to Lagos HQ - in pictures 
The Diesel Truck, parked within Lagos HQ 
Patrick Ekong, NDPR Ltd, taking delivery of diesel 

Recent Milestones

2014 NDPR Ltd Executes Omerelu Farm Out Agreement

2014 NDPR Ltd attains 1000th Truck Load Out of Diesel from Ogbele Mini Refinery 

2012 NDPR Ltd Announces the Commencement of Ogbele Gas Plant Commissioning 

 NDEP Plc celebrates sixth year of consecutive dividend payment to shareholders 

 NDEP Plc conferred Pioneer Tax Status by the Nigerian Investment Promotion Commission

2011 NDPR Receives LTO approval for Mini Diesel Topping Plant at Ogbele

2011 NDPR marks 10 Years of Host Community Engagement 

Pictures from NDEP's 4th HSE Week

Mr Felix Abili, introducing HSE Week

Lagos Staff Group Picture 
Port Harcourt Staff Group Picture 
Tom George, NDPR HSE Cordinator, with Maureen Edmond, Nkecki Umoh and Bestman Chinem. 
Dr Fatona addressing all staff via the video conference link
Lagos Staff participating in the aerobics exercise 
Lagos staff at the end of the aerobics exercise 
  AGM Update 

The Company’s 20th Annual General Meeting (AGM) will hold this year at the Federal Palace Hotel, Lagos on Tuesday the 25th August, 2015 at 11am.  You may view the 2014 Annual Report for Niger Delta Exploration & Production Plc here

 Pruduction Update 

In order to continue and surpass the momentum of oil and gas produced in 2014, your Company continued its drilling campaign in 2015. This is in line with its 2015 work programme. Well #7 ST2, a planned dual string (oil and gas) completion was successfully drilled in June and is in the final stages of well completion prior to hook-up to the Flow Station. Preliminary findings show exceptionally promising reservoirs of both oil and gas.  

Upon completion of this new well, and after obtaining the necessary regulatory approval,  a re-entry and workover operations of Well #1 is planned, to boost gas production. Well #9 was completed as an oil producer earlier in the year and has since come on stream; adding to the daily crude production figures. 

Between January and 27th July 2015, total oil (+ condensate) produced stands at 813,852bbls, whilst the total gas (AG + NAG) produced was 8,212,419Mscf. Within the stated production period, a total of 7,879,195Mscf was exported to Bonny NLNG in line with the Gas Sales and Purchase Agreement with SPDC, while about 0.98% of the total produced gas was used for Company operations (facility electricity power generation and fuel gas for compressors). About 1% or 82,644Mscf of the total produced gas was flared; here classified as technical flaring.  

 Ogbele Diesel Powers NDEP Plc HQ

Against recent fuel and diesel scarcity in Lagos, NDEP Plc transported diesel produced from the Ogbele Mini Refinery to its Lagos HQ.  The Mini Refinery has been a tremendous asset in promoting self sufficiency throughout the Company's operations, while also providing high quality diesel to the local economy.  

A plant upgrade of the Mini Refinery from the initial 1,000bpd to 5,000bpd is contemplated and it is expected that upon completion your company would have further diversified and further enhanced its downstream operations from a single product (diesel) into various other viable products.  

Total diesel production from January to June 2015 was 71,645.00 bbls (equivalent to 11,390,645 liters). 

 Staff HSE Week  
In June, the Company held its 4th HSE Week, across all office and field locations. It featured health talks by external physicians, a health and safety quiz and outdoor exercises for all staff. The Theme for 2015 was 'Safety is Our Business and HSE: our character' and staff participated enthusiastically. Dr 'Layi Fatona commented that the culture of  HSE had taken a deep root within the Company, and encouraged all staff to remain committed to the foundation of the Companny’s corporate success – HSE. 

 Capital Raising  

Since NDEP Plc commenced the capital raising exercise, global oil prices have dropped considerably, which have negatively affected investor appetite for oil and gas investments. 

A number of Interested Investors have requested to hold back and watch the Global Oil market. These crop of Investors want to wait for some level of stability in the Global Oil industry.

However, Management have advanced discussions with an Investor group. The group have put forward an offer which is being reviewed by Management. If the offer is acceptable we expect that NDEP and the group will execute a Term Sheet and proceed into the Due Diligence process, without further delay.

 Community Affairs 

In all of the host communities, Phase 1 of the Electrification Project has  now been completed. So far, all host communities are now connected to the PHCN National Grid. We have now entered Phase 2, to broaden electrification access.

Maiden meeting with Omaraka Community

A new host community has been added to the NDPR Host Community  Development Trust. As Well #9 was drilled on land owned by the Omaraka community, The Board of Trustees (BOT) of the Host Community Development Trust,  invited and met  recently with the newly constituted Omaraka Community Advisory Committee for the first time. 

The Committee thanked the BOT for inviting them to the meeting and stated their willingness to work with the BOT and the Company for the mutual benefit of both entities. Omaraka presented a list of requests for consideration and execution.The BOT assured the Committee that their requests would be considered once funds were appropriated for their community.

Congratulations Chief Edirin Abamwa
NDPR's  Chief Sub-Surface Petroleum Engineer and Development Adviser, Chief Edirin Abamwa, has been admitted as a Fellow, with a specialisation in Corporate Governance & Strategic Management, by the Institute for Government Research Leadership Technology (IGRLT). This award was conferred at a prestigious Abuja ceremony in April 2015. 

Chief Edirin Abamwa, receiving his certificate by Professor Adesegun Olayiwola FATUSI,  a Professor of Community Health at the Obafemi Awolowo University, Ile-Ife, Nigeria (OAU)

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