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...
By Favour Ifeoluwa & Akinola Ajibade
Seplat Energy Plc, yesterday, announced the appointment of three Independent Non-Executive Directors( INED) in order to achieve greater heights.
They include Messrs Christopher John Okeke, Udoma Udo Udoma and Babs Omotowa.
The firm, which was listed in both the Nigerian and London Stock Exchanges, in a statement made available to News Mirror, said the appointees are expected to resume operation at different periods, in line with Board Succession Strategy announced in the 2022 Annual Report and 2023 Corporate Announcement.
While Okeke and Ufoma will be joining the Board December 1st this year, Omotowa will resume Apri 1st 2024.
The statement reads: " As set out in the Board Succession Strategy announced in the 2022 Annual Report and by Corporate Announcement on the 25 April 2023 (RNS: 3575X), the Company embarked on the recruitment process in line with the Board of Directors’ Succession Forward Plan.
" As stipulated in the Companies and Allied Matters Act of Nigeria (“CAMA”) the successor Chairman must already be a director and be voted in by the other directors by a simple majority. In addition, in accordance with Seplat’s Memorandum and Articles, the Chairman must be a Nigerian National.
The statement added that Mr Basil Omiyi and Dr Charles Okeahalam, will step down from the Board on the 31 of March 2024 after the 2023 Annual Report and Accounts have been finalised and approved by the Board.
Thereafter, the next Seplat Chairman, Christopher Okeke will assume office. Okeke, according to his resume sent to this publication, is a corporate commercial lawyer, diplomat and agribusiness expert
He grduated from Georgetown Law School with an LLM Degree in 1979 and admitted to the Nigerian Bar in 1980. Aside this, Okeke co-founded a major Nigerian commercial law firm- Ajumogobia & Okeke, in 1984, where he served as the managing partner until his retirement in 2009. While in active legal practice, Okeke led his firm’s Project Financing and Privatisation Group, representing investors and banks over many years.
He has served on several boards including - Cadbury Nigeria Plc, SO & U Saatchi & Saatchi, Indorama Petrochemicals Nigeria Limited, Asset and Resource Management Limited, ARM Pension Managers (PFA) Limited. Mr Okeke was Ambassador of Nigeria to Brazil, Bolivia, and Paraguay 2017-2020. He has served as the Honorary Legal Adviser to successive British High Commissioners since1989. He has also served as legal advisor to the Federal Republic of Germany, the Royal Kingdom of the Netherlands, Austria, Australia, and Canada, advising on consular and commercial matters. He acted as counsel to various international and multilateral Development Agencies including The UK Department for International Development (DFID) and International Finance Corporation (IFC).
Okeke was followed by Udoma Udo Udoma-who is an accomplished lawyer and seasoned board administrator.
Udoma attended St. Catherine's College, Oxford, England where he obtained a B.A. (Law) degree and a B.C.L. degree in jurisprudence. He was admitted to the Nigerian Bar in 1978. He founded the Law Firm Udo-Udoma & Belo Osagie in 1983 and retired from active legal practice in early 2020. Whilst in practice, Udoma specialized in advising on Nigerian investment laws and the investment environment, particularly in the petroleum, energy, and natural resources sectors.
He advised local and foreign companies on corporate restructuring, mergers and acquisitions, business laws and the raising of financing in the capital and money markets, as well as on major construction and engineering contracts.
Udoma was Chairman of UAC Nigeria Plc, Union Bank Plc and served on the boards of Unilever Nigeria Plc., Linkage Assurance Plc and First Hydrocarbon Nigeria Limited. This coupled with the fact that he held a number of public sector appointments. He was the first Chairman of the Corporate Affairs Commission (CAC) and in that capacity served the Nigerian Securities & Exchange Commission (SEC).
He was Special Adviser to the Minister of Petroleum and Natural Resources from September 1993 to March 1994 and became Minister of Budget & National Planning from 2015 to 2019. He was elected as a senator in 1999 and served for two terms from 1999 to 2007.
He is the current Pro-Chancellor, Akwa Ibom State University, Ikot Akpaden, South-South Nigeria.
The third Non- Independent Executive Director is Mr. Babs Omotowa. He is an international leader in the Energy industry across Europe, Africa, United States of America, Asia, and the Middle East, in organisation leadership, commercial, strategy and operational roles spanning over 26 years..
Omotowa holds a Bachelor of Science Degree in Industrial Chemistry and Masters degree in - Business Administration,specialising in Operations Research and Supply Chain Management, and an Honorary Doctor of Science. Mr. Omotowa was the Managing Director/CEO of Nigeria LNG Limited (“NLNG”) for almost 5 years from December 2011 to September 2016. Prior to joining Nigeria LNG, he served in different capacities including as a Vice-President Shell Sub-Saharan Africa, Director at Shell Petroleum Development Company, a Non-Executive Director of West Africa Gas Pipeline Company, amongst others. After his role as MD, NLNG, he served as a Vice President of Shell Global Upstream E&P and later as Special Adviser to the Shell Global Upstream Director. He is the Chairman of the Advisory Board of Montserrado Oil and Gas B.V, an Independent Director on the Boards of Pearlhill Technology USA, Stanbic IBTC Holding Plc, and CAP Plc, and Founding President of the Nigerian University of Technology and Management.
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