Oando wins Nigeria’s oil company of the year Award
ABUJA-Oando PLC, was presented with the “Company of the Year” award by the CWC Group, organisers of the annual Nigerian Oil and Gas (NOG) conference in Abuja.
The award was presented to Mr. Wale Tinubu, Group Chief Executive, Oando PLC by Mr Austin Oniwon, Group Managing Director, NNPC, during the NNPC Gala Night and Awards held at the Sheraton Hotel in Abuja, recently.
According to the organisers, winners are selected by industry peers through an online voting system. It added that Oando has demonstrated industry leadership and has achieved tremendous result across the three sectors of the Nigerian oil and gas in the period under review; In the upstream sector, all Oando swamp oil drilling rigs in operations achieved a milestone of 2 years of drilling with zero Loss Time Injury (LTI).
It also recently commissioned another swamp rig, ‘OES Passion’, for a N12 billion drilling contract in the Niger Delta. This brings to three the number of rigs Oando has in
operation following the deployment of ‘OES Integrity’ in 2009 and ‘OES Teamwork’ in 2010. OES Passion is a unique swamp barge with sequential well drilling capabilities and a skidding system that enables it to drill up to six wells in one location. The rig is rated to 3000HP, thereby able to drill up to 25,000ft in water depths of up to 16 ft.
In the midstream division, Oando remains Nigeria’s foremost natural gas distribution company that is ensuring industries are connected to a more affordable and reliable energy source.
Already, the company has built over 100km gas distribution system in Lagos that now connected 140 companies around industrial clusters in the state, cutting their energy cost by as much as 50%.
The company is now on the verge of spreading the gas advantage even further to more states having assumed operation of the Port Harcourt gas distribution concession in River State.
Under the concession agreement, Oando will rehabilitate and operate the existing natural gas infrastructure at Trans-Amadi and expand the network to Choba, Airport, New UST area of Greater Port Harcourt City, Abuloma, Heliconia Park, Reclamation Road and other adjoining areas.
The existing gas pipeline has a throughput of about 40mmscm/annum which currently serves industries in Trans- Amadi including Nigerian Bottling Company, First Aluminum Company and Stallion Foods.
It also recently commissioned another 128km gas pipeline facility in the South-South States of Akwa Ibom and Cross River. The facility, which now supplies gas to UNCIEM in Calabar, opens industries in both states to cheap, reliable and clean fuel.
Recently, an Oando-Agip consortium was awarded a mandate to develop a $3bn natural gas Central Processing Facility (CPF) in line with the Nigeria Gas Master Plan.
On completion of the CPF is expected to process about 600 million standard cubic feet of gas per day (mmscf/d) to be made available to the domestic market. It is estimated that this output is enough gas to power approximately 2800 megawatts (MW) of electricity per day – more than half the country’s current electricity generation.
In addition, gas based industries such methanol, fertilizer and petrochemical production plants are ancillary beneficiaries with enormous impact on job creation and industrialisation in the country.
In line with its aspiration of building Nigeria’s largest gas distribution grid, Oando has committed self to 100km increase in its gas footprint every year.
To this end, it has entered into agreement with the United States Trade and Development Agency (USTDA) to jointly fund a feasibility study towards the development of an interstate natural gas transportation pipeline from the Excravos-Lagos Pipeline System to other Southwest States in Nigeria.
Oando continues to take significant steps to consolidate its leadership position in the downstream sector. It has been delivering innovative solutions to its vast retail consumers.
This is evident in the recently introduced LPG retail dispensing offering at its forecourts known as the “pay-as-you-gas which enables a customer to buy the desired quantity of LPG into own cylinder using a metered pump.
The company is now set to introduce a 3kg LPG initiative that will encourage over 5 million low-income households to switch from biomass (or dirty fuel) to Liquefied Petroleum Gas (cooking gas).
Speaking on the awards, Dr Alirio Parra, the Senior Associate, CWC Group and Chairman of the 2012 NOG Conference, said “Oando’s leadership position as
Nigeria’s foremost integrated energy company was associated with successful achievements in all its subsidiaries across the entire energy chain. Oando is a home
grown company with an international standard and had been in the vanguard of indigenous operation for years.”
As a proudly African company in the global energy industry, Oando is dedicated to performance, professionalism, integrity, and service excellence. From its origins as a downstream petroleum marketing company, Oando has transformed into an integrated energy group whose subsidiaries have achieved market leadership in their respective sectors. The Oando Group includes:
Oando Exploration and Production: The leading indigenous oil and gas exploration and production company, with offshore, onshore, and swamp assets.
Oando Energy Services: Nigeria’s leading oilfield services company, using industry best practices and advanced technology to deliver safe and environmentally sound operations in the Niger Delta.
Oando Gas and Power: The developer of Nigeria’s foremost natural gas distribution network;
Oando Supply and Trading: Africa’s largest independent petroleum trading company, supplying 20% of Nigeria’s fuel requirements; and
Oando Marketing: West Africa’s leading oil retailer, with operations in Nigeria, Ghana, Togo, and the Republic of Benin.