Rivers, Oando partner to deliver 100,000bpd of crude, 1.5 bCF of gas in five years

Rivers State Governor, Sir Siminalayi Fubara (right), in a handshake with Managing Director of Oando Energy Resources Nigeria Ltd, Dr. Ainojie Alexander Irune (left), during an audience with the Governor at Government House, Port Harcourt, on Wednesday.

The Rivers State Government has entered into a partnership with Oando Energy Resources Nigeria Ltd to deliver 100,000 barrels of crude per day over the next five years, in addition to 1.5 billion standard cubic feet of gas.

The decision was reached on Wednesday when a delegation from Oando Energy Resources, led by its Managing Director, Dr. Ainojie Alexander Irune, paid a courtesy visit to Governor Siminalayi Fubara at Government House in Port Harcourt.

Dr. Irune, speaking to newsmen after the delegation’s closed-door meeting with Fubara, said that while they have set ambitious targets, achieving these goals would be difficult without a harmonious relationship between the company, the state government, and host communities.

He said: “We will continue to invest in the upstream sector, which brings us to the conversation of why we are here. We have ambitions to deliver a 100,000-barrel-per-day production target over the next four to five years, along with over 1.5 billion standard cubic feet of gas.

“We can only achieve this in harmony. We can’t do it in a chaotic environment. We have chosen this state as our base, even though we produce from three other states—Bayelsa, Imo, and Delta.

“And these assets span Oil Mining Leases (OMLs) 60, 61, 62, and 63 in all of these states. So, we plan continuous investment, but our priority must be not just in the assets but also in the communities where these assets operate.”

Dr. Irune explained that Rivers State, particularly Port Harcourt, serves as their main base of operation, adding that they were delighted with the meeting with the governor as a mark of respect to their chief host.

The Oando MD noted that under Governor Fubara’s leadership, there is prevailing peace, which has contributed immensely to business stability.

Dr. Irune said: “As you know, Oando Energy Resources’ Port Harcourt base is located in this state, and our smooth operations so far have been a function of a stable environment, a stable community, and the ability to carry out our day-to-day operations within this community.

“So, we are here to pay this courtesy visit and thank the Governor for the continued support he has given to the company.

“We believe that the operating environment has been relatively improving. We still see some unrest in certain areas, especially related to the issue of pipeline vandalism, but we have observed significant improvement.”

Dr Irune said that they have continued to engage with all relevant stakeholders, including host communities, who must be carried along on their business journey towards achieving success.

He noted the level of transformation the company aims to create, as they are determined to contribute to fostering a more habitable and dignified ecosystem.

He added, “This is the first step to reducing the level of destruction that we have seen. Overall, there is a peaceful Rivers State, a peaceful environment.

“The government agencies are very cooperative, and our local communities have been extremely welcoming and have shown a lot of pride in the transition of the formerly Eni Agip-held assets into the hands of a local company, Oando Energy Resources, to invest in the country.”