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

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Vitol Group and Helios Investment Partners will acquire a majority stake in Oando’s downstream unit for $276 million.

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Nigeria - May 6, 2015

Wale Tinubu, group CEO of Oando, speaks to TOGY about the advantages of diversification, the growth of the gas and power sectors, and policy and financial challenges…

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Nigeria - October 01, 2014

Nigerian integrated energy firm Oando last week said it will double its current oil production capacity of 42,500 barrels of oil per day over the next five years.
The…

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