Oando Plc has increased its crude oil production by 50% within three months following its $783 million acquisition of the Nigerian Agip Oil Company (NAOC) from Italian energy firm Eni.

The milestone was announced by Dr. Ainojie Irune, Managing Director of Oando Energy Resources Nigeria Limited, during a meeting with Joint Venture partner, Nigerian National Petroleum Corporation Limited (NNPCL), in Abuja. The meeting, led by NNPCL’s Group Chief Executive Officer, Mele Kyari, also included top executives from both organizations.

Irune credited NNPCL’s support for the swift progress and highlighted the seamless integration of both companies’ operations. He revealed plans to further increase production to over 100,000 barrels of oil per day and 1.3–1.4 billion cubic feet of gas daily within the next three years.

Kyari praised Oando’s rapid progress, describing the acquisition as a significant development for Nigeria’s energy sector. He emphasized NNPCL’s commitment to supporting Oando in overcoming challenges and achieving sustainable growth.

Irune expressed optimism about tackling the industry’s challenges through collaboration and commitment, noting the potential to build a sustainable oil and gas industry that contributes to national economic development.