Onome Amuge
Nigerian energy company Oando Plc has confirmed that its upstream subsidiary, Oando Energy Resources (OER), recently secured the operatorship of Block KON 13 in Angola’s Onshore Kwanza Basin, following a competitive bidding process conducted by the Angolan National Agency for Petroleum, Gas, and Biofuels (ANPG).
The strategic location of Block KON 13 in Angola’s lucrative Kwanza Onshore Basin, an area known for its hydrocarbon potential in both pre-salt and post-salt plays, is considered an enticing prospect for the Oando Energy Resources.
Based on estimates, the block holds prospective resources in the range of 770 million to 1.1 billion barrels of oil. To unlock the potential of Block KON 13, two exploration wells have already been drilled to a depth of 3,000 meters, with oil and gas discoveries at various depths within the block.
Leveraging its experience and expertise in the Angolan energy sector, Oando Energy Resources will spearhead the development of Block KON 13 as the operator, possessing a 45 percent participating interest.
The project also sees OER collaborating with Effimax, with a 30 percent participating interest, and Angola’s state-owned oil and gas firm Sonangol, with a 15 percent stake.
Commenting on the award, Wale Tinubu, group chief executive, Oando PLC, said: “I am thrilled by our successful bid and award of Block KON 13 in Angola. This development underscores Oando’s relentless commitment to expanding our footprint across Africa and contributing to the continent’s energy-sufficiency goals.
“I am confident in our ability to leverage our expertise to develop and maximize the value of this asset. We look forward to collaborating with our co-venturers and other key stakeholders to harness this opportunity and unlock its full potential for Angola and Africa”.
The recent milestone marks Oando’s strategic entry into the Angolan oil and gas market and represents a significant step in its long-term vision to grow its upstream operations across Africa.
Moreso, it solidifies the company’s position as a prominent player in the continent’s energy landscape, evolving from a local indigenous operator to a regional powerhouse, underscoring OER’s commitment to expanding its upstream portfolio and unlocking new opportunities in Africa’s energy sector
Following the company’s recent successful acquisition of NAOC Ltd in Nigeria, the addition of Block KON 13 further bolsters the company’s upstream portfolio and reflects its commitment to driving regional growth and energy security.
OER is a wholly owned upstream subsidiary of Oando, holding interests in 14 oil and gas assets encompassing exploration, development, and production activities, both onshore and offshore in Nigeria and São Tomé and Príncipe. The company maintains an extensive asset portfolio comprising over 22,447 square kilometres of acreage, a capacity to handle 483,000 barrels of oil per day (bopd), a gas handling capacity of 3,663 million standard cubic feet per day (mmscf/d), 3.5 million barrels of terminal capacity, a pipeline network spanning over 1,255 km, 14 flow stations, and a 1GW power plant.
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