The deal expands Oando’s asset base to include 40 oil and gas fields, with 24 currently in production, 1,490 km of pipelines, 12 production stations, three gas processing plants, the Brass River Oil Terminal, and the Kwale-Okpai power plants with a combined capacity of 960MW.

This transaction has increased Oando’s total reserves by 98%, from 505.6 million barrels of oil equivalent to one billion barrels of oil equivalent, based on 2022 estimates.

Group Chief Executive of Oando, Wale Tinubu, highlighted that the acquisition marks the culmination of a decade-long effort, significantly strengthening Oando’s position in Nigeria’s upstream sector and promoting sustainable practices in host communities.