By Elohor Okagbare
CHEVRON Nigeria Limited has reinstated its commitment to the development of communities in all of its area of operation in an effort to make its operations positive.
These were the words of the Chairman/Managing Director of the Company, Mr Andrew Fawthrop while delivering his speech at the just concluded International Conference and Exhibitions of the Society of Petroleum Engineers (SPE) in Abuja.
According to him the world has moved beyond an era where commercial success and competition of projects alone are seen to be the yardsticks for business, as impact on society is also of significant importance in todayâ€™s business world. â€œToday the challenges facing the oil industry are many and varied. Oil is becoming more difficult and expensive to prospect and produce, while the challenging environment means that technology, expert, best practice and competitors intelligence will be more visible hallmarks of the oil industry.
This is why the theme of this exhibition and conference â€˜Future Energy Dynamics: sustainability Research and technologyâ€™ is apt. The NNPC/Chevron JV hopes that the pool of knowledge that would be generated and shared at this SPE conference would guarantee better energy security for the world.
In chevron, we apply cutting-edge technology and best practice to operate across the entire energy production spectrum. we are determined to use the best of technology and resources to provide the energy that would power the world this century and beyond. Indeed, we will continue to seek more ways of improving on our business and completion of our major capacity projests in the country.â€
â€œCommercial success and competition of projects are however no longer the yardstick for business today. our impact on the society good or bad is also taken into account. most companies clearly agree that success in our world now means doing business in a socially responsible and ethical manner. it means respecting the law. ti means benefiting the communities where we work. and specifically for an energy company like ours, it means respecting the environment while working to meet the worlds growing energy demands.
In chevron, we outline all of this in a document we call â€˜The Chevron wayâ€™it enbraces our vision and values and establishes a common understanding not only for those of us to who work at the company, but also for all who are interacts with us. it is about achieving results, the right way.
we have touched millions of people through various initiatives we have adopted in our areas of operations and beyond. The Global Memorandum of Understanding (GMOU)initiated by the company in 2005 has continued to produce great achievements and has now become a reference point in community engagement strategies. we will continue to demonstrate our commitment to the development of communities in and around our areas of operations and make our presence a positive one wherever we may be.â€ he enthused. In another development, the company has also announced a significant discovery offshore Angola, an effort which also demonstrates its ongoing exploration success in Prolific Block 0.
The company in an online statement announced that its affiliate, Cabinda Gulf Oil Company Limited (CABGOC) and its partners, had made a successful discovery in Block 0 located adjacent to the Cabinda coastline in Angola.
It stated further that the 79_3XST1 discovery well, drilled in March 2009 in 397 feet (120 meters) of water to a total vertical depth of 13,000 feet (3965 meters), encountered over 225 feet of net hydrocarbon pay in the Upper Pinda formation. The well was tested from a single 150 ft. perforated interval and flowed at a rate of 11.6 million cubic feet of natural gas and 2,550 barrels of liquid hydrocarbons per day.
â€œThis discovery further demonstrates the success of Chevronâ€™s focused exploration program in growing our resource base. Our strong record of exploration discoveries in West Africa provides Chevron opportunities to successfully move energy resources forward from exploration to development to production,â€ said George Kirkland, Executive Vice President, Global Upstream and Gas.
â€œChevron is pleased with the discovery, and we look forward to continuing the work needed to further evaluate the find and potential development options,â€ said Ali Moshiri, President of Chevron Africa and Latin America Exploration and Production Company.
The statement reads in part that the discovery extends a trend of undeveloped natural gas condensate and crude oil discoveries in the Greater Vanza Longui Area that are currently undergoing appraisal. Chevron, through CABGOC, has a 39.2 percent interest and is the operator of the Block 0 contractor group, which also includes SONANGOL E.P. (41 percent), Total E&P (10 percent) and ENI Angola Production B.V. (9.8 percent)