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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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Savannah joins Extractive Industries for growth

Savannah  joins Extractive Industries for growth 

  




By Akinola Ajibade

Savannah Energy Plc has joined the Extractive Industries Transparency Initiative (EITI) with a view to help promote management of resources in the energy sector. 

EITI is EITI a global standard for the good governance of oil, gas and mineral resourcesand the aim is to address the key governance issues in the extractive sectors.

The firm's Chief Executive officer, Andrew Knott, in a statement made available to News Mirror, recently, said the organisation is delighted to join the Extractive industries Transparency Initiative, as well as welcoming  engagement with EITI in order to offer additional support to us to its operations and further improve its activities greatly.

He noted that the company has since 2015 aligned with the EITI principles in Nigeria, stressing that  Savannah is  partnerng  with governments and regulators to build and sustain growth in the industry.

The firm is a British independent energy company focused around the delivery of Projects that Matter in Africa. 

 Knott in the statement, further said that his company is: " restrengthening collaborative efforts towards driving and improving transparency, governance and anti-corruption efforts in the countries in which we operate. 

  

  

  

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