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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 to Chad: We shall resist efforts to nationalise our assets


By Akinola Ajibade


Savannah Energy Plc, yesterday, promised to pursue all of its legal rights against the decree issued by the President of Republic of Chad, Mahamat Deby on the issue of nationalising assets Savannah Energy in Chad  

The Chadian leader had issued a decree on March 23rd this year, announcing the decision of his government to bring the assets of Savannah Inco under the control of Chad, as well as ensuring that the country owns the assets.

Hitherto, Chad Inc's was formerly now as  Esso Exploration and Production Chad Inc upstream production assets in Chad.

In a statement issued to the News Mirror and signed by, Senior Consultant, Strategy and Business Management, Chain Reactions Africa, Chidebiere Onuoha, Savannah Energy that its completed the acquisition of EEPCI on December 9,last year.

The firm further said the actions of the Republic of Chad are in direct breach of the Conventions to which SCI and the Republic of Chad among other parties signed. 

It added:”This Presidential Decree has been issued by the Republic of Chad, notwithstanding the fact that under SCI’s operatorship the historic production decline was immediately reversed, with daily production averaging 29,349 barrels per day since 9 December 2022, an increase of c.9% as against the equivalent period prior to Savannah taking control of SCI. Savannah had also initiated plans to significantly increase production further through an active investment programme”

According to Savannah Energy,the conventions are subject to the jurisdiction of an ICC tribunal, seated in Paris and the company intends to pursue all of its legal rights.

It reiterated its commitment to delivering projects that matter in Africa .

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