Oando Energy Resources Nigeria Ltd has set an ambitious target of producing 100,000 barrels of crude oil per day and 1.5 billion standard cubic feet of gas over the next five years. The company made this announcement during a meeting between its Managing Director, Dr. Ainojie Alexander Irune, and Rivers State Governor, Sir Siminialayi Fubara, at the Government House in Port Harcourt.
Dr. Irune emphasized that these production goals can only be achieved through a harmonious relationship between Oando, the state government, and the host communities. “We can only do that in harmony. We can’t do it in a chaotic environment,” he said, stressing the importance of maintaining a stable and peaceful environment for business operations.
Oando has selected Rivers State as its operational base, producing oil from other states, including Bayelsa, Imo, and Delta. The company operates key assets across Oil Mining Leases (OMLs) 60, 61, 62, and 63 in these regions, and plans to continue investing in both the assets and the communities where they operate.
The meeting also highlighted the significance of Port Harcourt as the company’s main base. Dr. Irune praised Governor Fubara’s leadership, noting that the peace and stability in Rivers State have been critical to Oando’s smooth operations. He also acknowledged ongoing challenges like pipeline vandalism but expressed optimism about improvements in security and business conditions.
Governor Fubara welcomed the delegation, stressing the importance of mutual benefits between the state and investors. He encouraged Oando and other companies to take advantage of the state’s investment-friendly environment to achieve their business goals.
The meeting underscored the company’s commitment to engaging with local communities and stakeholders, which Dr. Irune described as key to the company’s success in managing assets formerly owned by Eni Agip, now transitioned to Oando Energy Resources.
As Oando continues its expansion in Nigeria’s energy sector, the company looks forward to strengthening relationships with host communities and contributing to the economic development of the regions in which it operates.
