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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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Fed Govt Plans To Conclude Sale 0f Mobil Assets



President Tiinubu 

By Favour Ifeoluwa & Akinola Ajibade


The Federal Government is not leaving any stone unturned to conclude the sale of $1.3 billion ExxonMobil oil assets to Seplat Energy Plc in order to increase investment and Nigeria’s production capacity, the Minister of State for Petroleum Resources, Senator Heineiken Lokpobiri has said. 

He said President Bola Tinubu has already directed him to ensure that all issues bordering on investment and production including sale of Exxon Mobil Assets are addressed, as part of efforts to widen the country 's capacity to improve its output. 

He spoke on the issue during a dinner organised for industry's stakeholdersi in Abuja.

He said: "The President has directed that we resolve all issues hindering investment in the industry. There are many oil well that have been idle for years. I have been engaging stakeholders, including the International Oil Companies, IoCs and indigenous oil companies on how to keep the idle oil wells open".

Adding that:" The directive was part of the efforts of the efforts of theFederal Government to conclude the sale of $1.3 billion ExxonMobil oil assets to Seplat Energy Plc in order to increase the country's capacity to increase oil output greatly..

Continuing further, the Minister said  there are many oil well that have been idle for years. I have been engaging stakeholders, including the International Oil Companies, IoCs and indigenous oil companies on how to keep the idle oil wells open. 

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