OML 17: 12 facts you did not know about TNOG, Heirs Holding, Transcorp
TNOG Oil and Gas Limited, a related company of Heirs Holdings and Transcorp is one of Africa’s largest, indigenous owned, oil and gas businesses.
It has a single, clear vision, targeted at creating Africa’s first integrated energy multinational, a global quality business, uniquely focused on Africa and Africa’s resource needs.
The company is affiliated with Heirs Holdings and Transcorp, Nigeria’s largest listed conglomerate, with a public shareholder base of over 3000,000, and focus on catalyzing African based integrated value creation, with a commitment to Africa’s development, through long term investments that create economic prosperity and social wealth.
It is committed to the development of Nigeria’s oil and gas resources in a sustainable manner, that embodies our purpose of improving lives and transforming the African continent.
The company is involved in Oil Mining License, OML 17, an underexploited proven and scalable low-cost asset, with multiple low-risk opportunities to grow production and develop high-grade reserves, located in the Niger Delta.
Previously operated by Shell, OML covers approximately 1,300 km2 (c.320,000 acres), located across Rivers State, in southern Nigeria, next to Port Harcourt, the second industrial city of Nigeria and centre of the upstream oil industry.
Assets have been in production since the late 1950s and 1960s, with production peaking in the 1970s at 120,000 barrels of oil equivalent per day (boe/d).
The recent production capacity of 27,000 boe/d and has 2P reserves of 1.2 billion boe, with an additional 1 billion boe resources of further exploration potential.
Physical assets in place include six flow stations and two associated Gas Gathering Facilities and two Gas Plants, under construction.
An affiliated company, Transcorp, is already one of the largest power producers in Nigeria, with 2,000 MW of installed capacity, through ownership of Ughelli Power Plant and the recent acquisition of Afam Power Plc and Afam Three Fast Power Limited.
Transcorp also operates OPL281, under a production sharing contract with the Nigerian National Petroleum Corporation (NNPC).
Heirs Holding subsidiary, Tenoil is the operator of OPL 2008, under a production sharing contract with NNPC.
