Oando expands upstream footprint with Angola’s oil assets win

Oando PLC, an indigenous energy solutions provider, has expanded its upstream portfolio by securing operatorship of Block KON 13 in Angola’s Onshore Kwanza Basin.

This development follows a competitive bidding process organised by Angola’s National Agency for Petroleum, Gas, and Biofuels (ANPG).

Block KON 13 is located in the Kwanza Onshore Basin, a region with significant exploration potential in pre and post-salt plays.

With estimated prospective resources of 770 to 1,100 million barrels of oil, the block has seen two exploration wells drilled to a target depth of 3,000 meters, with oil and gas shows recorded at various depths.

Oando Energy Resources (OER), the company’s upstream subsidiary, holds a 45 percent participating interest and will serve as the operator. Its co-venturers include Effimax, with a 30 percent stake, and Angola’s state oil company, Sonangol, with 15 percent.

Read also: Nigeria overtakes Angola in African upstream capex

Expressing enthusiasm for the achievement, Wale Tinubu, Oando’s group chief executive, 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. We look forward to collaborating with our co-venturers and other key stakeholders to unlock its full potential for Angola and Africa as a whole.”

The award marks Oando’s entry into Angola’s oil and gas sector, strengthening its position in Africa’s energy market. The company described the move as a step toward achieving its long-term goal of growing its upstream operations across the continent.

This latest acquisition builds on Oando’s recent successful takeover of Nigerian Agip Oil Company (NAOC) Limited in Nigeria, further boosting its upstream portfolio.

OER currently holds interests in 14 oil and gas assets across Nigeria and São Tomé and Príncipe, covering over 22,447 square kilometres of acreage.

The company’s infrastructure portfolio includes the capacity to handle 483,000 barrels of oil per day, gas handling facilities capable of processing 3,663 million standard cubic feet per day, a pipeline network spanning over 1,255 kilometers, and a 1 gigawatt power plant.