Nigerian multinational energy firm Oando PLC has been awarded operatorship of onshore Block KON 13 in Angola’s Kwanza Basin by the Angolan National Agency for Petroleum, Gas and Biofuels (ANPG).
The milestone marks Oando’s entry into the Angolan market, aligning with its broader African expansion strategy. Oando will lead the development of Block KON 13 – with a 45% interest – contributing to Angola and Africa’s energy sufficiency goals.
Two previous wells drilled on the block encountered hydrocarbon-bearing sands at a depth of 3,000 meters, with the asset estimated to hold between 770 to 1,100 million barrels of oil, according to Oando.
Wale Tinubu, Group Chief Executive of Oando PLC, said the firm will use operational expertise gained in Nigeria – bolstered by its recent acquisition of NAOC Ltd in Nigeria – to expedite activities on the Angolan asset.
