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Green Energy International Limited (GEIL) signs new MoU with host communities

Green Energy International Limited (GEIL), a leading oil and gas development company and the Operator of the Otakikpo marginal field has successfully negotiated and signed a new ‘’Memorandum of Understanding’’ (MoU) with its host communities of Ugama Ekede, Ayama Ekede, Asuk Ama & Asuk Oyet.

The MOU signing ceremony was witnessed and endorsed by the Rivers state government representatives, from the Ministry of Chieftaincy Affairs and Community Development. The MoU encompasses improved governance and administrative components that would help to push for the delivery of development outcomes in target communities, reduce youth restiveness and promote inclusion of women and vulnerable groups.

The MoU covers a comprehensive operational structure that identifies key stakeholders who will act as sustainability drivers that would support host communities to plan and undertake implementation of projects based on communities’ development priorities and agenda- an approach that is yielding noticeable improvement in our social performance interface.

The Company confirmed its intention to conclude the installation of the LPG extraction plant and power plants in the next few months in Otakikpo which is intended to open a whole new vista of interlinked, multi-level and multi-sectoral development investments, with potential socio- economic and technological impacts, running from the local to global levels.

For instance, the MoU has been structured by the JV and communities to take advantage of this business development through the provision of 10% of all LPG and Diesel produced by the JV and made available to credible and confirmed distributors from the host communities. There is also provision of electricity to communities directly from the JV’s facility, subject however to existing regulatory framework for power distribution mechanism by the legally approved government distribution agency.

In addition, the MoU identifies various development phrase and project ratios necessary to capture community groups including women and vulnerable people through the development of a 5-year community development plan (CDP) that reflects the needs and aspirations of the target communities and jointly implemented by the Trustfund.

The Chairman of Green Energy International Limited reiterated that “the MOU is a significant milestone for GEIL and the host communities. It secures the necessary funding is available to expand its social investment programmes to provide infrastructure, reduce unemployment, build capacity for women, access to community contractors and contracting, technical training and unlock further value at Otakikpo. We are pleased to be working with Foursome communities and other stakeholders. We look forward to the transformation of our communities in terms of development and social change.” He concluded.


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