Energy
Azura Power gets new MD, Edu Okeke
By: Sandra Nnaemeka
At midnight today, Dr David Ladipo will step down as the Managing Director of Azura Power West Africa Ltd and be replaced by Mr. Edu Okeke.
As co-founder and MD of Azura, Dr Ladipo spent more than eight years at the helm of the company, during which time the company developed, built and commissioned the 461 MW Azura-Edo IPP, Nigeria’s first largescale, privately-financed, independent power plant.
As the company transitions into 2019, he now passes the baton to his erstwhile deputy, Mr. Edu Okeke.
Mr Okeke joined Azura in 2014 as its Chief Operating Officer before becoming Deputy Managing Director in 2016. Prior to joining Azura, Mr Okeke had already charted a stellar career path through a succession of bluechip companies.
This career began 25 years ago, when he joined Guiness Nigeria PLC as a management trainee based in Lagos. From there he moved to Schlumberger Oilfield Services where he steadily moved up the ranks from a Junior Field Engineer to overseas postings as a Senior Field Services Manager in Vietnam and Pakistan.
In 2004, he joined Lafarge PLC as a Business Development Manager where he was posted to South Africa, before returning to Lagos and attaining promotion to the post of Commercial Director.
In 2008, he moved to General Electric where he spent three years as GE’s West Africa Region Manager before being posted to France, in 2011, as a Commercial Leader.
One year later, GE brought him back to Africa to head up their entire Sub-Saharan Power Generation Sales Division. And it was from this role that he was eventually poached by Azura.
Mr Okeke holds a BSc in Electronic Engineering from the Univeristy of Nigeria, Nsukka and an MBA from Imperial College, London.
He is married and blessed with two children.
Commenting on Mr Okeke’s appointment, his predecessor, Dr Ladipo, had this to say: “Mr Okeke has already made a huge contribution to the Azura family. In his roles as COO and DMD, he has brought an infectious energy to every task he’s been given. He has also brought a wealth of international experience; a commitment to exceptionally high quality standards; well-honed leadership skills; and a seemingly effortless ability to bond with peope from all walks of life. From drivers to directors, from CEOs to cleaners, Mr Okeke is always able to connect at a very natural, very human, level. This combination of humility and charisma, proficiency and passion, perspiration and inspiration, will stand him in good stead as he takes over the leadership of Azura”.
In preparation for Mr Okeke’s promotion to MD, Azura has also broadened the composition of its senior management team. Earlier this year, Mr Fela Somoye and Mr Victor Agboh were both promoted to senior manager status.
Accordingly, the company’s Management Committee now boasts the following composition:
- Mr. Edu Okeke, Managing Director;
- Mrs. Nonye Obibuaku, Finance Director;
- Mr. Nicholas Abolo-Tedi, Group ESG Director;
- Mr. Abolaji Olorunkoya, Senior Manager (Finance & Accounting);
- Mr. Fela Somoye, Senior Manager (Legal & Compliance); and
- Mr. Victor Agboh, Senior Manager (Commercial Operations)
The Azura-Edo IPP is a 461 MW gas-fired open-cycle power plant near Benin City and is the first, large-scale, project-financed IPP to be constructed in Nigeria.
The facility comprises an open cycle gas turbine power station; a short transmission line connecting the power plant to a local substation; an 800m spur line that connects to the country’s main gas pipeline network; and a gas pressure reduction and metering station.
The construction of the facility was completed 8 months ahead of schedule (a record for the African continent) and became fully operational on 1 May 2018. During peak dispatch hours, the plant produces up to 10% of all the power on the Nigerian Grid.
In total, more than 2,500 people worked on the development and construction of the facility; and the energy that it generates is now consumed in millions of homes and businesses across the country.
The Development Phase
The development phase of the project stretched from 2010 to 2015, spanning three different political eras, with the crucial final stage taking place under the administration of H.E. President Muhammadu Buhari.
The total capital invested in the project was nearly $900m, representing a huge capital investment in one of the most critical sectors of Nigeria’s economy. The debt financing for the project was sourced from 15 banks drawn from 9 different countries, including many of the major European and US development finance institutions (“DFIs”). Inter alia, this group of 15 banks comprises: OPIC (US Govt); CDC (UK Govt); PROPARCO (French Govt); DEG & KFW (German Govt); FMO (Dutch Govt); SWEDFUND (Scandinavian Govts); and the IFC (multilaterals).
The Nigerian Government is also represented alongside these DFIs and is, in fact, the largest single lender to the project through an FCMB loan facility backed by the Central Bank of Nigeria and the Bank of Industry. Also represented amongst the lender group were Standard Chartered Bank and Rand Merchant BanK (co-lead arrangers for the other commercial banks).
The equity capital raise was led by Amaya Capital, a principal investment firm that specialises in early stage investments in energy and infrastructure projects. In 2016 Amaya Capital The equity capital raise was led by Amaya Capital, a principal investment firm that specialises in early stage investments in energy and infrastructure projects.
In 2016 Amaya Capital joined forces with Actis, a large global investor with over $14bn of capital raised since inception and a power generating portfolio of 7GW spread across 19 countries. Actis then became the majority shareholder in Azura Power Holdings, where it is helping to transform the business into a multi-country, multi-asset, base load power generation platform.
The other equity sponsors comprise African Infrastructure Investment Managers; Aldwych International Ltd; the ARM-Harith Infrastructure Fund; and the Edo-State Government (which holds a 2.5% equity stake in the project).
The Edo State Government and the Royal Palace of His Majesty the Oba of Benin also played an essential role in land acquisition, community relations, permitting and logistics.
Liquidity and credit enhancement, to help secure both the debt and equity finance, was supplied by the World Bank through IBRD partial risk guarantees and through MIGA political risk insurance.
The Construction Phase
The construction of the plant commenced in January 2016 and, at midnight on the 30th April 2018, the construction crew handed over the site to the operations crew, 8 months ahead of schedule.
The plant also set new health and safety records, with nearly 5 million man-hours of labour clocked up without a single lost time injury.
The EPC Contractor responsible for the construction of the plant was a consortium comprised of: Siemens AG; Siemens Nigeria Lt; and Julius Berger Nigeria Ltd.
Throughout the construction phase, the plant published on its website a daily, and publicly accessible, account of its activities together with a weekly summary of its progress against key construction milestones.
This unusually high level of transparency not only helped to maintain best-in-class quality standards, it also contributed to the timely completion of the project without any loss time injuries.
Credit for the successful construction of the project must also be given to our host communities: Ihovbor, Orior-Osemwende and Idunmwowina. Inter alia, all three communities greatly assisted with the provision of labour and raw materials.
The Operations Phase
Now that the plant is fully operational, the operations and maintenance contractor is the PIC Group (a subsidiary of Marubeni).
In turn, the operations team interacts on a daily basis with a multiplicity of different government agencies.
For example, the plant’s output is sold to the Nigerian Bulk Electricity Trading PLC which, in turn, on-sells the power to all 11 of the country’s electricity distribution companies.
The fuel-gas for the plant comes from the Oben gas field which is jointly owned by Seplat and NPDC (the government-owned upstream petroleum company).
The transporter of the gas is the government-owned Nigerian Gas Company; and the Transmission of Company of Nigeria transfers the plant’s electricity onto the national grid at the neighbouring Benin-North Substation (which was developed by the Niger Delta Power Holding Company).
Hence, the operational performance of the Azura-Edo IPP serves as a powerful testament to the effectiveness of well-structured public-private partnerships.
Source: TechEconomy.ng
…OML 13 Asset Eyes 80,000 bpd by End of 2025
In a major boost for Nigeria’s crude oil production, revenue generation and economic growth efforts, the NNPC Ltd has officially unveiled its latest crude oil grade, the Utapate crude oil blend, before the international crude oil market.
It would be recalled that in July, 2024, NNPC Ltd and its partner, the Sterling Oil Exploration & Energy Production Company (SEEPCO) Ltd introduced the Utapate crude oil blend, following the lifting of first cargo of 950,000 barrels which headed for Spain.
During a ceremony held at the Argus European Crude Conference taking place in London, United Kingdom, on Wednesday, the Managing Director, NNPC E & P Limited (NEPL), Mr. Nicholas Foucart described the introduction of the Utapate crude oil blend into the market as a significant milestone for Nigeria’s crude oil export to the global energy market.
“Since we started producing the Utapate Field in May 2024, we have rapidly ramped up production to 40,000 barrels per day (bpd) with minimum downtime. So far, we have exported five cargoes, largely to Spain and the East Coast of the United States; while two more additional cargoes have been secured for November and December 2024, representing a significant boost to Nigeria’s crude oil export to the global market,” Foucart told a packed audience of European crude oil marketers.
He added that since its introduction into the global market, the Utapate crude oil blend has enjoyed a positive response from the international crude oil market, due to its highly attractive qualities.
Foucart said the Oil Mining Lease (OML) 13, fully operated by NEPL and Natural Oilfield Services Ltd (NOSL), a subsidiary of SEEPCO Ltd, boasts a huge reserves of 330million barrels of crude oil reserves, 45 million barrels of condensate and 3.5 tcf of gas.
“We have a number of ongoing projects to increase our production from the current 40,000bopd to 50,000bopd by January 2025 and 60,000bopd to 65,000bopd by June 2025. Essentially, we are targeting opportunities to increase production to 80,000bopd by the end of 2025,” Foucart added.
He said the Utapate crude oil terminal is sustainable, affordable and fully compliant with the rigorous environmental regulations and sustainability principles especially those aimed at reducing carbon emissions and other ecological effects.
Also speaking, the Managing Director of NNPC Trading Ltd (NTL), Mr. Lawal Sade said the pricing structure of the Utapate crude oil blend is similar to that of Amenam crude as it is a light sweet crude which is highly sought after by refiners across the world due to its low sulphur content, efficient yield of high-value products, API gravity and other similarities.
He said in bringing the new crude oil blend to the global market, NNPC Ltd wanted to optimise value for both its producers and counterparties across the globe.
He added to ensure predictability and sustainability of supply, the NNPC Trading intends to run a term contract on the Utapate crude oil blend cargoes, principally targeting off-takers from the European and the US East Coast refineries.
Produced from the Utapate field in OML 13 in Akwa Ibom State in Nigeria, the Utapate crude oil blend is similar to the Nembe crude oil grade. It has a low sulphur content of 0.0655% and low carbon footprint due to flare gas elimination, fitting perfectly into the required specification of major buyers in Europe.
The NNPC E&P Ltd and NOSL partnership is also committed to operating in a manner that is safe, environmentally responsible, and beneficial to the local communities.
The Utapate field development plan, executed between 2013-2019 and approved in October, included converting wells and facilities from swamp/marine to land-based operations.
The plan involved a multi-rig drilling campaign for 40 wells and the development of significant infrastructure such as production facilities, storage tank, a subsea pipeline and an offshore loading platform to facilitate crude oil evacuation and loading.
The entry of the Utapate crude oil blend into the market is coming barely a year after the NNPC Ltd announced the launch of Nembe crude oil, produced by the NNPC/Aiteo operated Oil Mining Lease (OML) 29 Joint Venture (JV).
This remarkable achievement signals the commitment of the NNPC Ltd to increasing Nigeria’s crude oil production and growing its reserves through the development of new assets.
Energy
NNPC Ltd Set to Supply 100mmscf/d Gas to Dangote Refinery
…10-year Deal to Boost Local Production, Revamp Industrial Growth, reports Ikenna Oluka
The NNPC Gas Marketing Limited (NGML), a subsidiary of the Nigerian National Petroleum Company (NNPC) Limited, has successfully executed a Gas Sale and Purchase Agreement (GSPA) with Dangote Petroleum Refinery and Petrochemicals FZE.
The agreement, signed by the Managing Director, NGML, Barr. Justin Ezeala and the President/CEO of the Dangote Group, Aliko Dangote on Tuesday at the Corporate Head Office of Dangote in Falomo, Lagos State, outlines the supply of natural gas for power generation and feedstock at the Dangote Refinery, in Ibeju-Lekki, Lagos State.
This major milestone is in line with President Bola Ahmed Tinubu’s policy of utilizing Nigeria’s abundant gas resources towards revamping the nation’s industrial growth and kickstarting its economic prosperity.
This development, which sees a huge investment of this nature penned with zero capital expenditure (CAPEX) outlay, has been described by many as unprecedented in the history of NGML or any gas Local Distribution Company (LDC) in the country.
Under the terms of the agreement, NGML will supply 100 million standard cubic feet per day (MMSCF/D), 50MMSCF/D being firm supply and the rest 50MMSCF/D interruptible natural gas supply to the refinery for an initial period of 10 years, with options for renewal and growth.
This collaboration is a significant step toward ensuring the operational success of the Dangote Refinery and enhancing Nigeria’s domestic gas utilization.
NNPC Ltd, through NGML, its gas marketing subsidiary, continues to lead efforts in promoting the use of domestic gas to support industries and businesses nationwide.
The agreement represents a milestone for both NNPC Ltd and Dangote Refinery, aligning with their shared commitment to boosting local production and providing vital products for the benefit of all Nigerians.
It is also a further proof of NGML’s unwavering commitment to business excellence and fulfilling NNPC Ltd’s core mandate of ensuring Nigeria’s energy security through the execution of strategic gas projects across the country.
Energy
AVEVA Unveils Key Learnings from its 2023 Sustainability Progress Report and first AVEVA Industrial Intelligence Index
AVEVA, a global leader in industrial software, launches AVEVA’s 2023 Sustainability Progress Report and the first edition of the AVEVA Industrial Intelligence Index at London Tech Week 2024 where the company advocates for an ethical and impact-driven AI aimed at increasing creativity and efficiency for a more sustainable world.
AVEVA 2023 Sustainability Progress Report: key learnings
In 2023, AVEVA continued to make progress on its core ESG framework objectives, including enabling the sustainable transformation of industry through its software, modelling environmental stewardship and ethical best practice, and fostering an inclusive workplace culture where every employee feels engaged and empowered to learn and grow.
This fourth edition of the report is AVEVA’s first publication of ESG data and workstream advancements aligned to a calendar year reporting period. It details progress made in 2023 to AVEVA’s three key pillars: Technology handprint, Operational footprint, and Inclusive culture.
Technology handprint
“Beyond our efforts to reduce our own carbon footprint, we recognize that our biggest opportunity to make a positive impact and accelerate our journey towards NetZero is through our core products, digital solutions that can help industries improve efficiency, circularity, traceability and resilience” declared Lisa Wee, Global Head of Sustainability, AVEVA.
With this regard, the company has developed a green new logo program that has supported in the first six months the deployment of clean tech activities for 25 customers. In addition, with 13 new case studies quantifying the reduction of emissions AVEVA software enables for customers, the company demonstrates how it walks the talk through tangible achievements contributing to sustainability. Last but not least, hackathons run in 2023 generated 80 sustainability-led technology ideas for future innovations.
2023 also saw the launch of AVEVA’s Sustainability Accelerator program the purpose of which is to advance sustainability use cases and capabilities across the company’s portfolio and partner ecosystem, including via AVEVA’s industrial intelligence platform, CONNECT.
“AVEVA’s Sustainability Accelerator program aims to enable faster uptake of existing sustainability solutions across the industrial landscape, while we continue to invest in product capabilities and partnerships that will push out the frontiers of sustainability innovation for industry” said Joana Mainguy, Director of Sustainability in charge of the program.
Finally, AVEVA has pioneered a new standard for green software: since the end of 2023, 31% of its portfolio has built-in power consumption measurement technology.
Operational footprint
In 2023, AVEVA met 4 out of the 15 2025 ESG targets including 93% reduction in scope 1 and scope 2 emissions through a combination of measures: the company procured 100% of renewable electricity in all global markets as per RE100 criteria, reduced its overall fleet of 21% over the year, and counted hybrid or electric vehicles for 25% of the remaining fleet. Notable achievements related to upstream emissions include a 36% decrease in purchased goods and services and a 49% decrease in business travel emissions. The latter goes beyond our 2025 ESG goal of a 20% reduction.
Regarding the scope 3, AVEVA has integrated e-waste data in the inventory under the waste category to report another significant achievement: “Our initial target of diverting 5 tons of e-waste from landfill in 2025 was surpassed by 22.75 tons in 2023. 100% of e-waste sent to our disposal partner is now diverted from landfill,” explained Lisa Wee.
Inclusive culture
AVEVA’s commitment to developing a workplace environment where all employees feel included and are treated with dignity and respect is also highlighted in the report.
“Globally, with 39.9% of new hires, 29% of managers and 26,5% of leaders being women, AVEVA has significantly increased gender representation in 2023 and will continue in this direction to raise these numbers to 50% of new hires, 40% of managers and 30% of leaders by 2030. Besides, we have reached our goal of less than 1% pay equity, and it currently stands at 0.5%”,commented Lisa Wee with enthusiasm. In addition, AVEVA demonstrated its commitment to society donating £ 310,000 to causes supported by AVEVA employees’ communities around the world.
AVEVA also achieved key milestones in regions: In the US, the company has developed a partnership with two Historically Black Colleges and Universities (HBCUs) for an ‘AVEVA Scholars Program. Spanning three years, the program includes scholarships and immersive onsite experiences, ultimately paving the way for talented Black scholars in Engineering and Computer Science to join the AVEVA team upon graduation. The pilot will kick-off mid-June 2024 and count 12 students.
AVEVA INDUSTRIAL INTELLIGENCE INDEX REPORT: A 2-in-1 publication to report on industrial needs and to give guidance on existing solutions through inspiring examples of successful and sustainable digital transformation:
At London Tech Week 2024, AVEVA launched its first annual AVEVA Industrial Intelligence Index:
“AVEVA has been supporting the industrial world for more than half a century. Listening to our customers’ needs and understanding their challenges is how we innovate and develop tailored solutions that will help them cope with current and future challenges. With more than 25 000 customers across all industries, we have built a unique expertise. Today I’m delighted to introduce our first AVEVA Industrial Intelligence Index Report. Our ambition is to issue this report every year to help C-suite executives, business unit leaders, and strategic decision-makers leverage industrial intelligence and succeed in the digital age, with inspiring insights about how industries transform towards a more sustainable future” declared Caspar Herzberg, AVEVA CEO.
Drawing on research conducted with 500 global industry executives across Europe, North America and Asia Pacific, this first edition gives valuable and actionable insights into the power, manufacturing, infrastructure, and chemicals industries. Including comments from AVEVA’s experts and leaders, the report unveils macro trends and describes the forces that drive change and innovation. It also presents case studies showcasing successful digitalization initiatives, and strategies for driving innovation and efficiency to chart a course towards a more sustainable and profitable future.
Samsung Expands Accessibility with Local Language Integration on Galaxy S25, A56, A36, and A26 Devices
Breaking: ‘Welcome home,’ Gov Mbah Receives Edeoga Back to PDP
NUJ at 70: Private Broadcast Members Congratulate Union
LASG Acquires New Outboard Engines For Optimum Boat Performance
Elon Musk builds Hotel in Mars, Sets to launch soon at $5million per night – Photos
