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Oando Acquires Oil Block In Angola

Oando Plc  Favour Ifeoluwa & Akinola Ajibade  Oando Plc  says it has completed and won the bid for the operatorship of oil block KON 13 in Angola. The firm which recently acquired Eni of Italy’s oil assets in Nigeria, said that the award of the oil block located in Angola’s onshore Kwanza Basin followed a competitive bidding process by the country’s oil and gas sector regulator. It further said hat the asset in which it owns 45 per cent participating interest, has estimated prospective resources of 770 to 1,100 million barrels of oil. Oando is handling its operations relating to the asset through its upstream subsidiary, Oando Energy Resources (OER). “Oando Plc,  Africa’s leading indigenous energy solutions provider listed on both the Nigerian Exchange Limited and Johannesburg Stock Exchange is pleased to announce that its upstream subsidiary, Oando Energy Resources (OER), has been awarded operatorship of Block KON 13 in Angola’s Onshore Kwanza Basin, following a...
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Ikeja Electric boosts supply in Ishokan Phase 1, others

By Akinola Ajibade



Ikeja Electric Plc has signed a Tripartite Interconnected Mini-Grid Agreement with Enaro Energy Limited and Ayobo community in order to boost supply of electricity in the state.

The idea would help in supply electricity to residents in areas such as Ishokan Phase1 Estate, Mercy Land Estate and Mercy Land Phase1 residents in Ayobo, Lagos State.

According to the company, the initiative is in line with the Nigerian Electricity Regulation Commission goal of improving supply of electricity in the country through partnerships between Distribution Companies and Independent Power generators.

Through the agreements, Ikeja Electric would be able to leverage on the Interconnected Mini-grid Initiative of the power sector to provide customers with enough electricity, the company said.

Speaking at the signing of the agreements, the firm's Chief Finance Officer,  Seqinah Adewunmi said  that the initiative is a landmark achievement  in the  sector, as it would enable the affected communities to access power without interruption.

Adewunmi represented the company's Managing Director, Mrs Folake Soetan at the event.

The development, she said, has shown that our  customers can enjoy 24hours power supply, in line with the core mission of Ikeja Electric to be a major distributor of electricity in Nigeria.

She said that this initiative will set the pace for bigger things to happen as the plan is to expand to other communities within the Ikeja Electric Franchise area. 

Similarly, the Managing Director,  Enaro Energy, Oluwaseun Smith, was excited that the project has come to fruition. 

He noted that the journey,which started about two and half years ago, has recorded success.

Speaking on behalf of the communities, Elder  Lawrence said that they impressed by the level of commitments of Ikeja Electric and Enaro Energy to the project.



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