Oando Plc’s operations in the São Tomé and Príncipe Exclusive Economic Zone mark a significant milestone, establishing it as Nigeria’s first indigenous International Oil Company.
This achievement reflects the dedication and vision of its team, particularly the Chief Executives Officer, Mr. Wale Tinubu, who has been instrumental in navigating the complexities of the oil and gas industry in Nigeria for decades.
His leadership and strategic foresight have positioned Oando as a key player in the international market.
Oando is a prominent African exploration and production company, recognized for its world-class operations and leadership in the continent’s upstream sector.
With substantial investments across a diverse portfolio of oil and gas fields, the company holds significant stakes in both onshore and offshore producing assets, positioning itself at the forefront of Africa’s energy landscape.
Oando’s asset base encompasses exploration, development, and production across both oil and gas sectors. The company holds interests in over 16 licenses for oil and gas assets, strategically located in onshore, swamp, and offshore regions, enabling it to capitalize on diverse opportunities within the energy landscape.
It has a Certified Professional Reserves Report from D&M, a leading auditing firm known for working with major oil companies like ENI/NAOC, Chevron, and Shell.
The CPR indicates significant gross recoverable 2P reserves linked to Oando’s original 20% Certificate of Proficiency (CoP) stake and a new 20% stake in NAOC, with a net present value of $2 billion for each 10%.
As a result, Oando’s total valuation has reached $4 billion, prior to accounting for the acquisition debt from the newly acquired company and legacy debts.
