Wale TINUBU

CEO

OANDO

We believe the private sector is best positioned to fill the huge gaps that remain in gas infrastructure investments.
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Oando

Promise in the private sector

Established as a petroleum product marketing company, Oando’s transformation into a fully integrated energy player took form in 2014 with its USD 1.5-billion acquisition of ConocoPhillips’ upstream assets in Nigeria. It holds interests in 14 licences. At present, the company operates through three main divisions: Oando Energy Resources, OVH Energy Marketing and Oando Trading.

  • AKK pipeline: Oando and Oilserv agreed in April 2018 to build a roughly 300-kilometre portion of the line that spans from Ajaokuta to Kaduna. A flag-off ceremony for construction on the AKK project took place in mid-2020.
  • NLNG deals: In December 2019, Oando secured two gas supply agreements with Nigeria LNG. The first agreement is for the renewal of gas supply for NLNG Trains 1 to 3 for a term of 10 years and the second is for gas supply for the upcoming Train 7 for a term of 20 years.

Today, the company’s total resource potential stands in excess of 500 million boe – with 479.8 million boe of 2P reserves and 146.9 million boe of 2C resources – and is spread over four assets situated in two geographical areas: OMLs 131 and 145 are in the Gulf of Guinea and blocks 5 and 12 are in the Exclusive Economic Zone.

Oando in figures

2018 average net production:40,023 boepd

Reserves as of 2018:More than 500 million boe

Oando features

Interview
Nigeria -

Wale Tinubu, the CEO of Oando, talks to TOGY about natural gas infrastructure development in Nigeria, the impact of low oil…

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