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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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Why We Opposed Planned Sale 0f $2.4bn Shell Assets- Oil Workers


By Favour Ifeoluwa & Akinola Ajibade 


Oil workers under the auspices of the Petroleum  and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has kicked against the planned sale of Shell’s onshore assets, claiming the group being speculated to buy up the assets is unknown to it.

Recall that Shell on January 16th this year, said it would sell its Nigerian subsidiary, Shell Petroleum Development Company of Nigeria Limited (SPDC), for a consideration of $1.3 billion, with buyers making an additional payment of up to $1.1 billion relating to prior receivables at completion.

Subsequently, PENGASSAN issued a statement, describing the purported group, which is planning to buy the onshore investment of Shell in Nigeria as entities without proven track records.


According to PENGASSAN's President & Secretary respectively, Comrade Gedtus Osifo and Lumumba Okugbawa respectively, plan to sell SPDC is a ruse.

“We reject without equivocation all the terms affecting employees that were communicated in the presentation to our members,” the two men have said in a statement.

The statement further said that: “One of the companies that made up the assemblage has a history of subjugating workers and subjecting them to untold hardship as exemplified in the current management of OML 34.

“The group is unknown to us and thus it’s an assemblage of unknown entities with no proven track record in managing such diverse assets.

“Our Shell/SNBO Branch of PENGASSAN has further communicated all subsequent information presented to our members by Shell Management on the planned sale.”


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