Oando Energy Resources Boosted Crude Oil Production by 50%

SEATTLE (Oil Monster): Oando Energy Resources Nigeria Limited announced that its crude oil production has seen a tremendous jump of almost 50% over the past three months, since its acquisition of Nigerian Agip Oil Company from Eni. This was disclosed by Dr. Ainojie Irune, MD, during its meeting with Nigerian National Petroleum Corporation Limited (NNPCL) held in Abuja.

Dr. Ainojie Irune expressed his gratitude for NNPCL’s support. The 50% jump in output in less than 100 days since the acquisition would not have been possible without the support of NNPCL, he noted. NNPCL played a key role in integration of both legacy companies, he added.

Furthermore, Irune emphasized Oanda’s commitment to increasing crude oil production by improving operational efficiency of its facilities. Over the next three years, it intends to increase production to over 100,000 barrels of oil per day and up to 1.4 billion cubic feet of gas per day.

Meanwhile, NNPCL commended Oanda on its recent acquisition. It noted that taking over the interests from Eni in the joint venture is a positive development for the industry and country. It emphasizes the critical role that indigenous companies could play in helping Nigeria achieve its national energy goals. Oanda has the capability to drive the joint venture project to new heights, it hoped.