With the prolonged lockdown due to COVID-19, NDEP Staff and Subsidiaries have adapted by working safer and more efficiently, ensuring all social distancing and Health Safety and Environment HSE) protocols are in place. Encouragingly, even during these times, there are reasons to celebrate as new milestones were attained.
|
|
|
15th Anniversary of Oil Production
|
|
|
|
On the 28th August, 2020 your company, through NDPR celebrated its 15 year anniversary of First Oil production from Ogbele. From humble beginnings, today your company has produced cumulatively close to 19.3 M and over 90 B Scf of gas.
Allowing us to take a trip down memory lane, Directors and Staff (past and current), Community Stakeholders and friends of the Company recalled the early years of the Company’s operations and the events leading to attainment of 1st Oil production from the Ogbele marginal field.
Former NDEP Chairman, Mr. Goodie Ibru, congratulated the current Chairman of the Board of NDEP, Mr. Ladi Jadesimi, the MD, and the other Directors, Management and Staff of the Company for its successes to date.
|
|
|
|
Ogbueshi Ben Osuno, Chief Olopade and Dr. Fatona, Lagos
|
|
|
|
NDPR Field Staff Celebrating, Ogbele
|
|
|
|
Regional Office Staff Celebrating, Port Harcourt
|
|
|
|
The Outreach in Progress
|
|
|
NDEP has provided 500 families from the community of Oworoshoki in Lagos State with staple food palliatives. This was undertaken in partnership with Sparkles Foundation, an NGO in Yaba.
The outreach provided some relief to an overlooked community, who appreciated the Company’s support.
This donation is in addition to NDEP's previous N25 million worth of COVID-19 Relief Items to the Rivers State Government and other palliative gift items to its Host Communities.
|
|
|
|
|
|
The AGM in Session
|
|
Your Company’s enviable Dividend Record continues with 13 years of consecutive dividends.
The 25th and 1st virtual AGM, and the 13th year of consistent dividend payments show the solid fundamentals and commitment to prudent resources management at NDEP Plc.
Thank you to all NDEP shareholders who joined in our first virtual AGM. To view the AGM on YouTube, please click here
|
|
|
|
Dr. 'Layi Fatona at the AGM
|
|
|
In Q2 2020, a total of 336,006 bbls of oil (crude and condensate) and 924 MM Scf of gas was produced and delivered to the Bonny Terminal NLNG respectively as well as 3.3 million litres of diesel sold to the domestic market. Also, in Q3, 588,260 bbls of oil (crude and condensate), 1.33 B Scf of gas and 6.2 million litres of diesel were produced.
Due to the impact of COVID-19 on oil prices, the decision was taken to reduce daily crude oil and gas production to preserve value for the Company. As we moved towards more stable pricing in Q3, production increased steadily but still in strict adherence to OPEC Production restrictions and controlled allocation by the Department of Petroleum Resources (DPR).
|
|
|
|
ND Refineries Loading Bay
|
|
|
For the 2nd time in 8 years, NDPR has received a License to Operate (LTO) its Ogbele Refinery. The new License was issued by the DPR for the processing of a further 5,000bbls/d of crude oil per day bringing effective crude oil refining capacity to 6000bbls/d.
This specific New License is for Train 2 of the Refinery Expansion Project. NDPR received its first LTO in 2012, to process 1,000bbls/d of crude oil.
The 2nd phase of the expansion (the addition of another 5,000bbls/d Crude Distillation Unit – Train 3) is completed as at date and awaiting DPR approval to introduce crude oil into the Plant. The commissioning of the fully fledged Refinery is expected to hold imminently with all Trains 1, 2 and 3 operational and becoming the 1st of such privately owned and operated Refinery in Nigeria.
|
|
|
|
Inside the Ogbele Refinery Loading Bay
|
|
|
|
