Interview
Nigeria - September 19, 2018
Wale Tinubu, the CEO of Oando, talks to TOGY about natural gas infrastructure development in Nigeria, the impact of low oil prices on the market and the investment…
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BACK TOCOMPANIES
Oando
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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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.
Company website: www.oandoplc.com
Oando in figures
2018 average net production:40,023 boepd
Reserves as of 2018:More than 500 million boe
Oando features
Partnered Event
Nigeria - February 26-March 1, 2024
The Summit will be graced by the esteemed presence of His Excellency, Senator Ahmed Bola Tinubu, GCFR, President of Federal…
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NEWS
Nigeria - July 27, 2018
Oando announced an 86% increase in profit after tax, totalling NGN 8.5 billion (USD 23.5 million) for H1 2018, on Thursday.
Compared to the same period in 2017,…
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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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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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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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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 - 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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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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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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