“I am thrilled with the success of our bid and the award of Block KON 13 in Angola; this development underscores Oando’s relentless commitment to expanding our presence in Africa and contributing to the continent’s energy sufficiency goals,” commented the CEO. from the Oando Group, Wale Tinubu.
The exploration awarded by Angola's National Oil, Gas and Biofuels Agency (ANPG) marks Oando's entry into Angola and is a "significant step in its long-term goal of increasing its upstream operations across Africa."
Block KON 13 is located in the prolific Kwanza Onshore Basin, with prospective resources estimated at between 770 and 1.1 billion barrels of oil, and will be operated by a consortium that, in addition to the leader Oando, with 45 percent, also joins Effimax (30 percent) and Sonangol (15 percent).
Oando holds stakes in 14 oil and gas assets covering exploration, development and production activities, both onshore and offshore, in Nigeria and São Tomé and Príncipe, according to the information to the market.