● Tonye Okurumo
••• As the Company Commends the Peaceful Atmosphere
Rivers State Governor, Sir Siminalayi Fubara, has emphasized the mutual benefits the state stands to gain from investors like Oando Energy Resources Nigeria Ltd, which is keen to take advantage of the state’s investment-friendly climate to achieve its business objectives.
According to Nelson Chukwudi, Chief Press Secretary to the Rivers State Governor, part of the governor’s discussions with the Oando delegation centered on the company’s continued investment in the oil and gas industry, specifically in the upstream sub-sector. Oando’s goals include reaching 100,000 barrels of oil per day over the next five years and producing 1.5 billion standard cubic feet of gas. Chukwudi noted that Governor Fubara has assured Oando of his administration’s commitment to maintaining an enabling environment for such ambitious targets.
These key points were part of a broader discussion Governor Fubara had with the Oando Energy Resources management team, led by its Managing Director, Dr. Ainojie Alexander Irune, during a meeting at Government House in Port Harcourt on Wednesday.
Speaking to newsmen after the meeting, Dr. Irune stressed the importance of harmony between the company, the state government, and host communities in achieving these business goals. He explained that while the company has set out ambitious production targets, these cannot be met in a chaotic environment.
“We will continue to invest in the upstream sector, which brings us to the reason we are here. We have ambitions to deliver 100,000 barrels per day production over the next 4 to 5 years, and over 1.5 billion standard cubic feet of gas. We can only do that in harmony. We can’t operate in a chaotic environment. We have chosen this state as our base while producing from three other states: Bayelsa, Imo, and Delta,” Irune said.
He further explained that Oando operates assets spanning Oil Mining Leases (OMLs) 60, 61, 62, and 63 in these states. “Our priority for investment must be not just in the assets but also in the communities where these assets operate,” he added.
Dr. Irune also highlighted the strategic importance of Rivers State, particularly Port Harcourt, as their primary operational base. He expressed satisfaction with the discussions held with Governor Fubara, emphasizing that Oando values the governor’s leadership and the prevailing peace in the state, which has greatly contributed to business stability.
“Oando Energy Resources’ base in Port Harcourt has been successful because of the stable environment and community. This has allowed us to carry out our operations smoothly. We are here to pay a courtesy visit and thank the governor for his continued support,” Irune remarked.
Addressing challenges, Dr. Irune pointed out that, despite occasional unrest, particularly related to pipeline vandalism, there has been a significant improvement in the operational environment. “We have seen significant improvements, and we continue to engage with all relevant stakeholders, including the host communities, who must be carried along in our business journey toward success,” he said.
He also reaffirmed Oando’s commitment to environmental transformation, adding that the company is determined to contribute to creating a more dignified and habitable ecosystem. “I believe this is the first step toward reducing the level of destruction we sometimes witness. Overall, Rivers State has been peaceful, and the government agencies and local communities have been extremely cooperative,” Irune said. He praised the local communities for their pride in transitioning the formerly Eni Agip-held assets into the hands of a local company, Oando Energy Resources. GMTNewsng
