Oando expands African footprint with Angola PSC for Block KON 13

OANDO Plc has signed a Production Sharing Contract (PSC) for Block KON 13 in Angola, marking a significant step in its expansion across Africa’s upstream oil and gas sector, a statement posted on Nigerian Exchange Limited (NGX) on Tuesday said.

The agreement was executed between Angolan National Agency for Petroleum, Gas and Biofuels and a consortium of partners, following the block’s award announced in January 2025.

Block KON 13 is located in the onshore Kwanza Basin, Angola, and has seen prior exploration activity, including two wells drilled to depths of up to 3,000 metres. Oil shows were encountered in one of the wells across multiple intervals, indicating potential for further development.

Under the terms of the agreement, Oando will operate the block through its wholly owned subsidiary, Oando Exploration and Production Angola Ltd, with a 45 percent participating interest. Other members of the consortium include Effimax Energy – Serviços, Lda (30 percent), Sonangol Exploração & Produção (15 percent), and Walcot Ltd (10 percent).

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Commenting on the development, Group Chief Executive of Oando, Mr Wale Tinubu, said the execution of the PSC reinforces the company’s strategic push into new African markets.

“The execution of this Production Sharing Contract advances our geographic footprint across Africa and reaffirms a commitment to excellence and execution we have repeatedly demonstrated on the continent,” he said. “We bring proven technical expertise to this asset and a clear mandate to create value for our partners and advance Angola’s energy ambitions.”

The deal represents Oando’s first operated international upstream joint venture and strengthens its position as a growing player in Africa’s energy landscape. It also follows the company’s acquisition of Nigerian Agip Oil Company Limited, further expanding its upstream portfolio.

Oando currently holds interests in 14 oil and gas assets across exploration, development, and production stages in Nigeria and São Tomé and Príncipe. Its portfolio includes over 22,447 square kilometres of acreage, a production handling capacity of 483,000 barrels of oil per day, gas processing capacity of 3,663 million standard cubic feet per day, and infrastructure spanning pipelines, flow stations, and power generation.

The company said the addition of Block KON 13 underscores its commitment to regional growth and energy security while deepening its presence in key African hydrocarbon basins.