Oando Plc has executed a Production Sharing Contract (PSC) for Block KON 13 in Angola to further expand its upstream operations beyond Nigeria and reinforce its position as a leading indigenous energy player in Africa.
The agreement was signed between the Angolan National Agency for Petroleum, Gas and Biofuels (ANPG) and the contractor group following the company’s earlier announcement on January 22, 2025, regarding the award of the block.
Block KON 13 is located in the onshore Kwanza Basin in Angola and has recorded early exploration activity with two wells drilled to a depth of 3,000 metres. Oil shows were encountered in one of the wells across multiple intervals, indicating potential hydrocarbon presence.
Oando, through its wholly owned subsidiary, Oando Exploration and Production Angola Ltd, will act as operator of the block with a 45 percent participating interest. Other partners in the consortium include Effimax Energy – Serviços, Lda (30 percent), Sonangol Exploração & Produção (15 percent), and Walcot Ltd (10 percent).
Commenting on the development, Group Chief Executive Wale Tinubu said the execution of the PSC represents a significant milestone in the company’s pan-African growth strategy.
He said the agreement advances Oando’s geographic footprint across the continent while reinforcing its commitment to operational excellence and value creation for stakeholders. According to him, the company brings proven technical expertise to the asset and is positioned to support Angola’s energy ambitions.
The signing also represents Oando’s first operated international upstream joint venture, underscoring its ambition to scale production and exploration activities across key African energy markets.
The development follows the company’s recent acquisition of Nigerian Agip Oil Company Limited, further strengthening its upstream portfolio. With the addition of Block KON 13, Oando continues to deepen its asset base and expand its operational capabilities across the region.
Currently, Oando holds interests in 14 oil and gas assets spanning exploration, development, and production activities across Nigeria and São Tomé and Príncipe. The company’s asset portfolio covers more than 22,447 square kilometres of acreage.
Operationally, Oando maintains a production handling capacity of 483,000 barrels of oil per day, gas handling capacity of 3,663 million standard cubic feet per day, and terminal storage capacity of 3.5 million barrels.
Its infrastructure also includes a pipeline network spanning over 1,255 kilometres, 14 flow stations, and a 1 gigawatt power generation facility.
The execution of the PSC positions Oando to leverage new exploration opportunities within the Kwanza Basin while supporting regional energy security and long-term production growth.
Market analysts note that the move aligns with broader industry trends of African energy firms expanding cross-border operations to diversify risk and capitalize on emerging hydrocarbon opportunities across the continent.