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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BACK TOCOMPANIES
Oando
Ainojie “Alex” IRUNE
Managing Director
OANDO ENERGY RESOURCES
When Nigerians control Nigerian resources, the objectives extend beyond commercial returns to a deeper sense of national purpose.
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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. The company operates through three main divisions: Oando Energy Resources, Oando Trading and Oando Clean Energy. It is active in Nigeria, São Tomé and Angola.
- AKK pipeline: Oando and Oilserv agreed in April 2018 to build a roughly 300-kilometre portion of the line that runs from Ajaokuta to Kaduna.
- 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.
- NAOC: Oando’s 2024 acquisition of Nigerian Agip Oil Company doubled its 2P reserves to nearly 1 billion barrels and increased its operated portfolio to OMLs 60-63, spanning four states with extensive infrastructure (12 flow stations, two gas plants, 1,500 kilometres of pipelines).
Oando plans to ramp up oil production to 100,000 bopd by 2029, with 90% of this from an aggressive drilling campaign from 2025–2029.
Company website: www.oandoplc.com
Oando in figures
2P reserves as of 2025:Almost 1 billion barrels
2029 target for oil production:100,000 bopd
2029 target for natural gas production:42.5 mcm per day
Oando features
NEWS
Nigeria - April 10, 2026
Oando plans to raise USD 750 million in 2026 to fund drilling campaigns in Nigeria as European banks retreat from oil and gas…
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Interview
Nigeria - January 20, 2026
Ainojie ‘Alex’ Irune of Oando talks about what the shift to indigenous control means for Nigeria’s oil and gas future.
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NEWS
Nigeria - October 14, 2025
Shell has taken a positive FID on the USD 2-billion HI gas project offshore #Nigeria, which will supply 9.9 mcm per day to…
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NEWS
Nigeria - August 25, 2025
Nigeria LNG has signed 20-year gas supply contracts with NNPC and international companies to feed its Bonny Island facility.
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