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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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Global Energy Show: Ekpo Woos Investors To Nigeria's Gas Sector

  

By Favour Ifeoluwa & Akinola Ajibade

The Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo yesterday said the path to a sustainable energy future requires partnership, innovation, and a shared commitment to addressing global energy challenges.
He stated this at a welcome reception hosted by the Nigerian High Commission in Alberta, Calgary, Canada, where he is attending the ongoing Global Energy Show.

In a statement issued yesterday ( Thursday) and made available to the media by the Minister Spokesman, Louis Ibah, Ekpo described the Global Energy Show as a platform where the brightest minds and most influential leaders in the energy sector converge, saying the gathering offered an opportunity to showcase Nigeria's immense potential in the global energy landscape, particularly in the gas sector.
He said: "We welcome Canadian businesses and investors to explore Nigeria's vast opportunities. Our government is dedicated to ensuring a stable and conducive environment for investments, with a focus on transparency, efficiency, and mutual benefit. 
The Minister said Nigeria is blessed with one of the largest natural gas reserves in the world, and is committed to harnessing this resource not only as a catalyst for economic growth, but also as a vital component of its energy transition strategy. 
According to Ekpo, the Nigerian government has in the past few weeks,  made substantial progress, by  creating an enabling environment for investment in the gas sector. 
He said initiatives such as the Decade of Gas had been launched to transform Nigeria into a gas-powered economy by 2030. 
He also said the Petroleum Industry Act (PIA) 2021 established the Midstream and Downstream Gas Infrastructure Fund (MDGIF), which provides a strategic framework to remove bottlenecks, incentivize investments and foster a conducive environment for gas infrastructure development. 
Ekpo therefore urged private sector investors to see Nigeria as a destination of their choice, highlighting their importance in the journey towards the country's energy security and sustainability. 
"Let us  foster deeper connections, share knowledge, and pave the way for a future where our energy collaboration leads to mutual prosperity and a sustainable world," he added.



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