Oando Plc, Nigeria’s indigenous energy solutions provider listed on the Nigerian Exchange Limited and Johannesburg Stock Exchange, has announced the successful award of operatorship for Block KON 13 in Angola’s Onshore Kwanza Basin. This was disclosed in a statement by the company’s Secretary, Mrs. Ayotola Jagun, following a competitive bidding process organized by the Angolan National Agency for Petroleum, Gas, and Biofuels.
Block KON 13 is strategically positioned in the prolific Kwanza Onshore Basin, offering substantial exploration potential in both pre-salt and post-salt plays. The block has estimated prospective resources ranging from 770 to 1,100 million barrels of oil. Two exploration wells previously drilled to a depth of 3,000 meters have indicated the presence of oil and gas across various intervals.
Oando Energy Resources (OER), Oando’s upstream subsidiary, holds a 45% participating interest and will operate the block, with co-venturers Effimax (30%) and Sonangol (15%) collaborating in the development.
Group Chief Executive, Oando Plc, Wale Tinubu, expressed excitement about the achievement:
“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 maximise the value of this asset and look forward to collaborating with co-venturers and stakeholders to unlock its full potential.”
This milestone marks Oando’s strategic entry into Angola’s oil and gas market and reflects its vision to grow upstream operations across Africa. Tinubu added that this achievement solidifies Oando’s transformation from a local indigenous operator into a regional energy powerhouse.
The company also highlighted that this development follows Oando’s recent acquisition of NAOC Ltd in Nigeria, further strengthening its upstream portfolio. OER now holds interests in 14 oil and gas assets, including exploration, development, and production activities across Nigeria and São Tomé and Príncipe.
The acquisition of Block KON 13 reinforces Oando’s commitment to driving regional growth and enhancing energy security across the continent.
