By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Daily Report NigeriaDaily Report NigeriaDaily Report Nigeria
Notification Show More
Font ResizerAa
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Reading: Oando Boosts Oil Production by 50% After Agip Acquisition
Share
Font ResizerAa
Daily Report NigeriaDaily Report Nigeria
  • METRO
  • NEWS
  • POLITICS
  • SPECIAL REPORT
  • FACT FILE
Search
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Have an existing account? Sign In
Follow US

Home | Oando Boosts Oil Production by 50% After Agip Acquisition

Business

Oando Boosts Oil Production by 50% After Agip Acquisition

Olaitan Sodiq
Olaitan Sodiq
Published: June 7, 2025
Last updated: June 7, 2025
2 Min Read
Share
Oando Boosts Oil Production by 50% After Agip Acquisition | Daily Report Nigeria
SHARE

Oando Plc has announced a remarkable 50% increase in its crude oil production within just three months, following its acquisition of the Nigerian Agip Oil Company (NAOC) from Italian energy giant Eni.

The company’s Managing Director, Dr. Ainojie Irune, revealed this achievement during a high-level meeting with its Joint Venture partner, the Nigerian National Petroleum Corporation Limited (NNPCL) in Abuja.

Irune thanked NNPCL for its ongoing support, highlighting the successful integration of both companies. “In less than 100 days since the acquisition, we have increased our production output by almost 50%.

This could not have been achieved without your support,” he said. He also emphasized Oando’s commitment to improving operational efficiency and scaling up production.

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

Oando’s acquisition of NAOC, valued at $783 million, was completed in August 2024. The company is now targeting a daily production rate of over 100,000 barrels of oil and 1.3-1.4 billion cubic feet of gas by 2027. Irune expressed optimism about the future, stating, “We are excited about the future of this partnership, and with the continued support of NNPC, we aim to significantly increase production.”

READ ALSO: Oando Acquires Nigerian Agip Oil Company for $783 Million

The Group Chief Executive Officer of NNPCL, Mele Kyari, congratulated Oando on the successful acquisition, calling it a significant step for indigenous companies in the oil and gas sector.

Irune also highlighted the broader challenges facing the oil and gas industry, stressing the importance of collaboration to overcome financial, security, and operational issues.

“The challenges we have seen are not insurmountable. With the commitment and collaboration of all parties, we will build a sustainable industry and economy,” he added.

 

For publication of Press Releases, Statements, and Advert Inquiries, send an email to info@dailyreport.ng
TAGGED:AGIPOando PLCTop Stories
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Updates

Gunmen Kill Police Inspector, Abduct Wife in Kaduna | Daily Report Nigeria
Gunmen Kill Police Inspector, Abduct Wife in Kaduna
Metro
Nigeria's Oil Production Jumps to 1.7m bpd as Tantita Intensifies Fight Against Oil Theft
Tantita Face of Nigeria’s Oil Security, G4 Tells UPU, Detractors
News
Chelsea Must Sell £60m in Players to Register New Signings | Daily Report Nigeria
Chelsea Must Sell £60m in Players to Register New Signings
Sports
Imaobong Nse Uko Slams AFN Over Two-Year Ban | Daily Report Nigeria
Imaobong Nse Uko Slams AFN Over Two-Year Ban
Sports
JAMB Uncovers 17,000 Students in Fake Admission Syndicate, Releases Mop-Up UTME Results | Daily Report Nigeria
JAMB Uncovers 17,000 Students in Fake Admission Syndicate, Releases Mop-Up UTME Results
News

TOPIC

2023 Elections Abuja Accident AFCON Anambra APC Arrest ASUU ASUU Strike Atiku Abubakar Bandits Bayelsa BBNaija Biafra Boko Haram Bola Ahmed Tinubu Bola Tinubu Breaking News Breaking News Nigeria Burna Boy Burutu CBN Celebrity news Chelsea Coronavirus court covid-19 Crime Daily Report Ng Daily Report Nigeria Daily Sports News Davido Delta Delta state DSS Education EFCC Elections English Premier League EPL Family federal government FG FIFA World Cup Football Fraud Godwin Emefiele Goodluck Jonathan Governor Nyesom Wike Gunmen Health Ifeanyi Okowa Imo INEC Insecurity IPOB IYC JAMB Kaduna Kidnap Labour Party Lagos Lagos State Manchester United Marriage Muhammadu buhari Music NASS NDDC NDLEA Niger Delta Nigeria NLC Nnamdi Kanu NNPC Nollywood Nyesom Wike Olusegun Obasanjo Pastor PDP Peter Obi Police Politicians President Bola Ahmed Tinubu President Muhammadu buhari Professor Yemi Osinbajo Protest Rape Reno Omokri Rivers State Senate Sheriff Oborevwori Social Media Suicide Super Eagles Tinubu Top Stories Twitter Victor Osimhen Zamfara

You Might Also Like

EFCC Interrogates Delta's Speaker, Clerk Over N1.6Bn Vehicles Purchase Deal | Daily Report Nigeria
News

EFCC Interrogates Delta’s Speaker, Clerk Over N1.6Bn Vehicles Purchase Deal

June 14, 2025
Nnamdi Kanu's Lawyer Threatens to Petition ICC Over Right Violation | Daily Report Nigeria
News

Nnamdi Kanu’s Lawyer Threatens to Petition ICC Over Right Violation

June 14, 2025
FIRS files charges against firm for tax evasion | Daily Report Nigeria
Business

FIRS files charges against firm for tax evasion

June 9, 2025
BREAKING: APC Presidential Primaries: Buhari Meets With Northern Governors | Daily Report Nigeria
Politics

BREAKING: APC Presidential Primaries: Buhari Meets With Northern Governors

June 15, 2025
© Daily Media N Publishing LTD. All Rights Reserved.
  • Home
  • About Us
  • Adverts With Us
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?