By Adedapo Adesanya
The chief executive of Oando Plc, Mr Wale Tinubu, has been scheduled to speak to some energy stakeholders in Africa on how the company has been able to record milestones with local experts..
He will also discuss expectations after the firm’s acquisition of Italian multinational Eni’s onshore assets in Nigeria at the December MSGBC Oil, Gas & Power 2024 conference in Dakar, Senegal.
Earlier this month, Oando completed its acquisition of Eni subsidiary Nigerian Agip Oil Company – which holds interests in onshore OMLs 60, 61, 62 and 63, as well as the Brass LNG terminal – transforming the company into one of Nigeria’s largest oil producers and doubling its reserves to 996 million barrels of oil equivalent.
Before the acquisition, the company’s upstream subsidiary Oando Energy Resources held assets on- and offshore in Nigeria and the Exclusive Economic Zone of São Tomé and Príncipe, with a portfolio encompassing 14 licenses in exploration, development and production of oil and gas concessions.
Amid global energy transition pressures, Oando has advocated the sustainable extraction of Nigeria’s 37 billion barrels of crude oil and more than 200 trillion cubic feet of natural gas to drive socioeconomic development and industrialization.
According to a statement, at MSGBC Oil, Gas & Power 2024, Mr Tinubu is expected to discuss Oando’s latest acquisition and investment strategy, focusing on integrating just transition principles and technologies and ensuring local value creation.
This perspective is particularly relevant for Senegal and Mauritania, which anticipate first gas production from the Grande Tortue Ahmeyim offshore field later this year and seek to balance resource development with sustainable growth.
Additionally, Mr Tinubu will emphasize the importance of local content in Oando’s operations, showcasing the company’s commitment to building local expertise, creating jobs and ensuring that economic benefits are retained within the region.
With a diverse asset portfolio, Oando exemplifies local capacity building and has evolved into one of the leading indigenous operators on the continent, leveraging the recent wave of IOC divestitures to play a more dominant role in Nigeria’s upstream sector.
The Event & Project Director at Energy Capital & Power, Ms Sandra Jeque, while speaking ahead of the programme, said, “MSGBC Oil, Gas & Power 2024 provides Oando with the platform to showcase its investment strategy – including its historic acquisition of Eni’s onshore Nigerian portfolio – as a leading African indigenous explorer.
“We welcome Adewale Tinubu in opening up dialogue and promoting a collaborative, cross-border approach to harnessing extractive resources, sharing best practices and achieving long-term energy security within the region.”
