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Oando Plc Secures Operatorship in Angola’s Block KON 13

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  • Block KON 13 holds significant exploration potential in both pre-salt and post-salt plays
  • Oando has strengthened its position as a major player in the continent’s energy landscape
  • Oando Energy Resources is a wholly owned upstream subsidiary of Oando

Oando Plc, a leading Nigerian energy solutions provider, has announced that its upstream subsidiary, Oando Energy Resources (OER), has been awarded the operatorship of Block KON 13 in Angola’s Onshore Kwanza Basin.

Eko Hot Blog reports that in a statement by the company’s Secretary, Mrs Ayotola Jagun affirms that the achievement follows a competitive bidding process organized by the Angolan National Agency for Petroleum, Gas, and Biofuels.

EDITOR’S PICK

Block KON 13 holds significant exploration potential in both pre-salt and post-salt plays, with an estimated prospective resource of 770 to 1,100 million barrels of oil.

The block has two exploration wells previously drilled to a depth of 3,000 meters, with observations of oil and gas at various depths.

“With a 45 per cent participating interest, OER will lead the development of the block as an operator, alongside Effimax (30 per cent) and Sonangol (15 per cent) as co-venturers,” it was stated.

Oando Plc Secures Operatorship in Angola's Block KON 13

Commenting on the award, the Group Chief Executive, Oando Plc, Wale Tinubu, 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 maximise 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 as a whole.”

He said the successful entry into the Angolan oil and gas market signifies a key milestone in the company’s strategic vision to expand its upstream operations across Africa.

By securing the operatorship of Block KON 13 in the Onshore Kwanza Basin, Oando has strengthened its position as a major player in the continent’s energy landscape, evolving from a local indigenous operator to a regional powerhouse.

The statement read further, “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.

FURTHER READING

“Oando Energy Resources 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 km of acreage, a capacity to handle 483,000 barrels of oil per day, a gas handling capacity of 3,663 million standard cubic feet per day, 3.5 million barrels of terminal capacity, a pipeline network spanning over 1,255 km, 14 flow stations, and a 1gigawattW power plant.”

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