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The partnership aims to boost Nigeria’s renewable energy capacity, featuring the first African solar modular assembly plant with a recycling line, as part of the country’s broader initiative to connect 17 million electricity consumers.
Block KON 13 holds an estimated 1,100 million barrels in reserves.
Following its entry into Angola’s onshore hydrocarbon sector and landmark Nigerian acquisition, Oando’s rapid growth will be highlighted as CEO Adewale Tinubu speaks at the Invest in African Energy Forum in Paris this May.
Oando aims for 100,000 bpd by 2028 with its NAOC acquisition and is open to additional mergers and acquisitions across Africa, prioritizing opportunities within Nigeria.
With the transaction, Oando’s estimated reserves in Nigeria increases from 505.6 million barrels to one billion barrels of oil equivalent.
The sale will allow Oando to take over the Nigerian Agip Oil Company operations while allowing Eni to focus on its remaining assets in Nigeria.
Following its milestone acquisition of Italian multinational Eni’s onshore assets in Nigeria, Oando CEO Adewale Tinubu will discuss the company’s role as a leading indigenous explorer at the MSGBC Oil,
With the loan, Oando PLC will complete the acquisition of shared in the Nigerian Agip Oil Company, expanding its footprint in Nigeria.
Eni has signed an agreement to sell its wholly-owned subsidiary, Nigerian Agip Oil Company, to Oando.
Walcot’s successful bids position the company as a key player in Angola’s onshore oil exploration efforts.
