Oando Reports Strong Upstream Growth Amid Strategic Continental Expansion
Oando PLC has demonstrated remarkable upstream performance with a 63% year-on-year production increase in the first half of 2025, reaching a daily average of 37,012 barrels of oil equivalent. The impressive growth stems from infrastructure consolidation, improved operational uptime, and the strategic acquisition of Nigerian Agip Oil Company (NAOC) assets.
The company’s expansion strategy extends beyond Nigeria’s borders, having secured operatorship of Block KON 13 in Angola’s Kwanza Basin. This cross-border approach reflects the increasing regionalization of Africa’s energy markets and positions Oando as a key player in continental energy development.
Despite broader revenue pressure from declining petroleum product imports, Oando maintained stable profit-after-tax at ₦63 billion. The company has outlined an ambitious capital program of $250-270 million, focusing on new wells, infrastructure development, and ESG-focused projects with a goal of achieving 20% cost efficiency.
Notably, Oando achieved 12.3 million hours of operations without lost-time injuries, demonstrating its commitment to operational excellence and safety standards.
Source: africasustainabilitymatters.com
