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 in figures

2018 average net production:40,023 boepd

Reserves as of 2018:More than 500 million boe

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 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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NNPC signs seven critical gas projects
NEWS
Nigeria - July 10, 2018

Nigerian National Petroleum Corporation (NNPC) has signed agreements on the Seven Critical Gas Development Projects, Nigeria’s NOC announced Monday.

The projects are…

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Oando announces 5th profitable quarter
NEWS
Nigeria - April 30, 2018

Indigenous Nigerian company Oando announced its fifth consecutive profitable quarter on Monday in its unaudited results.

The company reported 9% higher turnover,…

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Oando trading resumes
NEWS
Nigeria - April 12, 2018

Trading of Oando shares resumed Wednesday after a six-month freeze ordered by the Nigerian Securities and Exchange Commission (SEC).

Trading resumed at NGN 6.30 (USD…

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NNPC to break ground on AKK pipeline
NEWS
Nigeria - April 09, 2018

The Nigerian National Petroleum Corporation said Sunday that arrangements for the groundbreaking of the Ajaokuta-Kaduna-Kano pipeline were underway. 

Lot 1,…

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Nigeria’s Oando clears legal hurdles
NEWS
Nigeria - January 23, 2018

Nigerian independent Oando has resolved an alleged discrepancy in its ownership structure which led the Nigerian Securities and Exchange Commission to briefly suspend…

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OVH launches Lagos Midstream Jetty
NEWS
Nigeria - November 09, 2017

OVH Energy has launched the USD 150-million Lagos Midstream Jetty, local media reported Wednesday. 

Located in the Lagos Apapa Harbour, the facility is expected to…

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Oando wins order to lift trade freeze
NEWS
Nigeria - October 25, 2017

Nigerian independent Oando has won a court order lifting the Security and Exchange Commission’s (SEC) suspension on share trading and stopping its planned forensic…

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SEC clears Oando for AGM
NEWS
Nigeria - September 07, 2017

Nigeria’s Securities & Exchange Commission (SEC) refused a request to postpone Oando’s AGM over an ongoing investigation into corporate governance following…

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