Multinational energy company Oando PLC has joined the African Energy Week (AEW): Invest in African Energy 2024 conference and exhibition as a diamond sponsor. As an African independent, Oando PLC’s sponsorship and partnership speaks to the caliber of the conference – taking place in Cape Town from November 4-8 – as a premier event for the African oil and gas industry.
Oando PLC company signed an $800 million loan document with pan-African financial institution the African Export-Import Bank in November last year to facilitate the acquisition of 100% of the shares of exploration and production company the Nigerian Agip Oil Company. The transaction will see Oando PLC’s participation interest in OML 60, 61, 62 and 63 – situated in the northern Niger Delta – increase from 20% to 40%. During AEW 2024: Invest in African Energy, the company will outline how this strategic acquisition supports the company’s growth objectives in Africa.
AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.
As a well-established energy company with an impressive portfolio of assets in the oil and gas sector, Oando PLC is responsible for driving a diverse range of assets, which include exploration, development and production for onshore and offshore activities Nigeria. Currently, its producing assets include Qua Iboe (OML 13), Ebendo Field (OML 56), OML 60, OML 61, OML 62 and OML 63. Meanwhile the company’s promising pipeline of development assets include OML 90 and OML 122, which hold tremendous potential for bolstering Oando PLC’s operational capacity. Furthermore, in the realm of exploration, Oando PLC holds interests in several strategic assets including OMLs 321 and 323 as well as Blocks 5 and 12, OML 131 and OML 145.
Oando has stepped in as a strong partner for African countries, taking over high potential onshore assets with the aim of gradually growing reserves. Boasting a number of strategic partnerships and with a focus on sustainable growth, Oando PLC is well-positioned to harness the full potential of Africa’s energy resources and create long-term value for the company’s stakeholders. With a diverse and robust array of assets, Oando PLC has established a firm foundation for its business operations, ensuring a strong and sustainable presence in the dynamic and ever-evolving oil and gas sector.
“Oando PLC is a renowned leader in sustainability and clean energy efforts, with a strong commitment to driving successful oil and gas project developments in Africa,” states African Energy Chamber Executive Chairman NJ Ayuk. “The company sets an inspiring example for the entire industry, laying the groundwork for a more prosperous future for the continent.”
Oando PLC’s activities in oil and gas exploration, production and development are poised to play a significant role in meeting Africa’s energy demand, a key premise of AEW: Invest in African Energy 2024, which will be held under the theme Energy Growth through an Enabling Environment. In doing so, the company is well-positioned to contribute to the event’s stated goal of eradicating energy poverty on the continent by 2030.
Distributed by APO Group on behalf of African Energy Chamber.
