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What's New In W. Africa (Nigeria)

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What's New In W. Africa (Nigeria)

Old 31st Mar 2021, 21:59
  #5641 (permalink)  
 
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Are Bristow well in Eket? Rumours are that things are not well.
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Old 31st Mar 2021, 22:53
  #5642 (permalink)  
 
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Originally Posted by TroyTempest View Post
Are Bristow well in Eket? Rumours are that things are not well.
lots of rumours. Seems like more to emerge very soon.
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Old 1st Apr 2021, 04:53
  #5643 (permalink)  

Nigerian In Law
 
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Originally Posted by 212man View Post
lots of rumours. Seems like more to emerge very soon.
Are you aware of any sharing there ? I heard OAS have their finger in the Eket pie ?

NEO
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Old 1st Apr 2021, 20:24
  #5644 (permalink)  
 
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Originally Posted by Nigerian Expat Outlaw View Post
Are you aware of any sharing there ? I heard OAS have their finger in the Eket pie ?

NEO
I believe that the plan called for the Exxon contract to be split between Bristow and OAS/ADA.
In other news, the AGIP contract may also be changing hands
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Old 4th Apr 2021, 23:00
  #5645 (permalink)  
 
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I just completed 76D initial with two pilots from Caverton. They said they’re going to AGIP base to fly that contract.
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Old 5th Apr 2021, 07:19
  #5646 (permalink)  

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BHNL never managed to get the AGIP contract. They've been operating on various work orders for years. It was a right b**lache, trying to get hold of people in the Management block at AGIP Base for signatures, then couriering them to Lagos for processing every 90 days or so.

This leaves them with half a contract in Eket and a huge inverted triangle of management/admin to pay. It was bloated when they dominated in Nigeria, must be like the House of Lords now !

NEO
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Old 5th Apr 2021, 15:14
  #5647 (permalink)  
 
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What’s does BHNL have left in Nigeria these days?
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Old 5th Apr 2021, 15:22
  #5648 (permalink)  
 
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Originally Posted by Ainippe View Post
Whatís does BHNL have left in Nigeria these days?
very little in the way of contracts, but still lots of airframes it seems.
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Old 6th Apr 2021, 12:55
  #5649 (permalink)  
nbl
 
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Originally Posted by 212man View Post
very little in the way of contracts, but still lots of airframes it seems.
Why are they keeping a/c there doing nothing.? They must be losing a fortune.
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Old 6th Apr 2021, 18:04
  #5650 (permalink)  
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Originally Posted by nbl View Post
Why are they keeping a/c there doing nothing.? They must be losing a fortune.
It's probably cheaper keeping them there and having them lose money compared to the amount that would have to be paid in order to obtain the paperwork required to get them out of the country.
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Old 6th Apr 2021, 20:33
  #5651 (permalink)  
 
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Originally Posted by 419 View Post
It's probably cheaper keeping them there and having them lose money compared to the amount that would have to be paid in order to obtain the paperwork required to get them out of the country.
There's always the Iran option!!!
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Old 7th Apr 2021, 09:30
  #5652 (permalink)  
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Originally Posted by ericferret View Post
There's always the Iran option!!!
There's one thing that would put a stop to that:
COBI
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Old 7th Apr 2021, 09:43
  #5653 (permalink)  
 
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It's probably cheaper keeping them there and having them lose money compared to the amount that would have to be paid in order to obtain the paperwork required to get them out of the country.
Definitely, added to the fact that Bristow has quite a few spare aircraft around the world right now.
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Old 11th Apr 2021, 17:08
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Originally Posted by Brother View Post
Definitely, added to the fact that Bristow has quite a few spare aircraft around the world right now.
Did they take the redundant aircraft out of Oz ? GOM and Alaska along with the UK SAR contract (which is out to tender soon I think), are all that's left of what was a truly global entity.

It's only taken 10 years to destroy a company established in 1955. Such a shame.

NEO
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Old 11th Apr 2021, 17:32
  #5655 (permalink)  
 
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Originally Posted by Nigerian Expat Outlaw View Post
Did they take the redundant aircraft out of Oz ? GOM and Alaska along with the UK SAR contract (which is out to tender soon I think), are all that's left of what was a truly global entity.

It's only taken 10 years to destroy a company established in 1955. Such a shame.

NEO
Not sure itís that dire. Lots going on in Caribbean and South America I think.
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Old 12th Apr 2021, 02:12
  #5656 (permalink)  
 
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NEO

Did they take the redundant aircraft out of Oz ?
Slight thread drift but the last 139 finishes its contract this week and both AW139s will likely be shipped out back to Mama. Even if Bristow keeps the entity alive, there will be no helicopters remaining in Oz, just Airnorth.
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Old 30th Jul 2021, 14:43
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Predictable, apart from perhaps the speed and the scale. Will certainly make for some changes.......

Shell launches Nigerian shallow-water and onshore subsidiary sale – sources
Royal Dutch Shell [LON;AMS:RDSA] has launched a major divestment of its Nigerian assets, several sources familiar with the matter said.

Shell has hired Standard Chartered to sell its Shell Petroleum Shell Petroleum Development Company of Nigeria Limited (SPDC) subsidiary, two of the sources said.

SPDC operates the company’s shallow-water and onshore asset interests via its 30% interest in the SPDC joint venture, which supplies around 10% of Nigeria’s gas demand.

Sale documents were issued earlier this week and expressions of interest (EOIs) are due by 10 September, the other source said. The vendor is asking for non-binding offers in the subsequent second phase, this source said.

Shell is selling the business because it no longer views its activities in the Niger Delta as core to its ongoing strategy, which is driven by the ESG pressure from its investors, both sources said, and as intimated by its CEO earlier this year. Also, several of the oil mining leases (OMLs) have upcoming development costs, which Shell does not intend to fund, one of the sources added.

It will still retain its deepwater assets in the country, this source added.

The business will be worth several billions of dollars, this source said. Shell will want full-value offers for the business but is strategically driven in this disposal and will likely prefer low execution risk to waiting for a knockout offer, this source said.

It is very likely too large for any single acquiror, this and a third source, and a banker following the deal said.

The valuation will ultimately be derived from different views on the separate assets -- the shallow-water fields, the onshore fields and the infrastructure, for which there could be separate buyers, one of the sources said.

Alternatively, Shell may sell portions of equity in the whole of SPDC to different consortia of buyers, this source said.

Either way, buyers will need to have a local Nigerian element, this and another of the sources said.

The assets in the Niger Delta region are plagued with security issues and would, in particular, need a very local participant and lender, one of the sources said.

Private equity would struggle with this associated risk and with the expected necessary investment in the portfolio, this source said.

Public-listed companies would struggle to raise equity to execute the deal, given the ESG-derived sentiment for oil and gas in the public markets, this source said. Local sponsors may be interested, but this would constitute a very transformational deal, and would need significant lender support, this source said.

An international, private group with operating expertise, for example Perenco, or a Chinese player might make most sense, this source said.

Shell and Standard Chartered declined to comment.

The SPDC JV is co-owned with Eni [BITNI] via its NAOC subsidiary with 5%, TotalEnergies [EPA:FP] via its Total E&P Nigeria subsidiary with 10%, and Nigeria’s national oil company NNPC with the remaining 55%.

The joint venture owns 360 producing oil wells, 60 producing gas wells, and a network of 4,000 kilometres of oil and gas pipelines and flowlines, Shell’s website notes.

On 15 January this year, SPDC completed the sale of its 30% interest in OML 17 in the Eastern Niger Delta, and associated infrastructure, to TNOG Oil and Gas Ltd, a related company of Heirs Holdings Ltd and Transnational Corporation of Nigeria Plc, for a consideration of USD 533m.

In 2020, output from the SPDC JV, together with Shell’s SNEPCo subsidiary, fell from the record highs of 2019 but, at around 620kbpd of oil equivalent remained close to the five-year average of 625,000.

Nigeria is becoming an increasingly difficult jurisdiction in which to operate, a sector advisor following the sale said. Poor engagement by the government with international energy majors is driving many away, and this is further exacerbated by recent legislation such as the Nigerian Petroleum Bill, this advisor noted.

Shell first announced its plans to sell down its Nigerian onshore interests during its annual general meeting in May. "We have been reviewing positions that continue to be challenged from an environmental perspective ... and a particular point of attention has been onshore oil in Nigeria," its CEO Ben van Buerden said.

"Over the last 10 years we have reduced the total number of licences in onshore Nigeria by half. But unfortunately, our remaining onshore oil operations continue to be subject to sabotage and theft ... This means that the balance of risk and reward associated with our onshore oil portfolio in Nigeria is no longer compatible with our strategic ambitions. Because of this, we have started discussions with the Nigerian government to align on a way to move forward."

"We've drawn that conclusion, and we're now talking to the Nigerian government on the way forward."
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Old 30th Jul 2021, 16:10
  #5658 (permalink)  
 
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Some of Shell's Aviation Office going to shift over to the new ownership?
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Old 30th Jul 2021, 16:57
  #5659 (permalink)  
 
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Originally Posted by SASless View Post
Some of Shell's Aviation Office going to shift over to the new ownership?
A bit early to speculate I'd say. Typically a large percentage of staff transfer to the new owners, which has been seen in recent years with individual sales of blocks, including the last sale of OML17 in January.
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Old 2nd Aug 2021, 13:06
  #5660 (permalink)  

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No offence 212man, but their departure will be no loss to the contractor "grunts". I could list the issues but it would take too much of my time. Although it's a distant memory, having experienced both sides of the fence you surely remember the condescending, rude, dismissive attitude. Even between themselves, peering at each others' i.d. badges to check where people were in the pecking order used to make me smile. Entirely different on the North Sea.

Along with Total (whose animosity was largely nationalistic), they were far and away the worst customers I worked for, and as you know I got around quite a bit.

NEO
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