Oando Plc has ramped up its upstream oil and gas production by 63% year-on-year in H1 2025, showcasing strategic growth through asset acquisition, operational uptime, and cross-border expansion.

The company also secured operatorship of Block KON 13 in Angola’s Kwanza Basin, marking a major step into regional energy markets and reinforcing its ambitions as a pan-African energy leader.

Strong Production Despite Market Pressures

Unaudited results show Oando’s average daily production climbed to 37,012 barrels of oil equivalent (boepd), driven by its acquisition of Nigerian Agip Oil Company (NAOC) and sustained infrastructure upgrades.

Crude output rose 77%, while gas production increased by 54% — a key metric as gas takes centre stage in Africa’s energy transition.

Despite a 15% dip in total revenue to ₦1.72 trillion due to softer trading margins and reduced petroleum imports, the company maintained a stable ₦63 billion profit-after-tax.

Gas, Safety, and ESG in Focus

Oando’s rising gas volumes underline its role in delivering lower-carbon energy. “Natural gas remains Africa’s best bridge to industrialisation and energy access,” an internal source said.

The company also recorded 12.3 million hours of operations without a lost-time injury (LTI), signalling robust safety culture and systems reliability across its operations.

Pan-African Strategy Gains Ground

Oando’s entry into Angola reflects a broader push toward regional integration in Africa’s energy markets. With rising calls for local content, regional refining, and intra-African collaboration, the move supports a long-term strategy of scale and resilience.

In H1 2025, the company’s trading arm lifted 14 cargoes (12.9 million barrels) of crude, up from 10 the previous year, while also moving into LNG and metal trading to support continental diversification efforts.

New Capital, New Vision

Oando has outlined a forward-looking $250–270 million capital programme, targeting new wells, infrastructure, and ESG-focused projects with a 20% cost efficiency goal.

The company also plans to raise equity and restructure debt, having expanded its Reserve-Based Lending (RBL) facility to $375 million to support operations across its 1 billion boe upstream portfolio.