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Oando reaches agreement to recapitalize 60% of downstream business to Helio-Vitol consortium for $461million. $250 million right issue successfully achieved.
Oando Acquires ConocoPhillips Nigeria buisness for $1.5 bilion Completion of $250 million sale of EHGC Pipeline to Seven Energy OER completes $50million Private Placement
N54.6billion Right Issue exercise 101% subscribed Commissioned. Commissioned 10.4MW Alausa Independent Power Plant (IPP) to provide power for Lagos State secretariat complex. Compressed Natural Gas (CNG) operations commence.
OER Listed on TSX Signed a farm-Agreement for 40% participating in Qua ibo (OML 13) . A third Rig, OES Passion Commissioned. Proposed ConocoPhillips NIgerian assets acquisition agreement.
The 128Km Eastern Horizon Gas Company (EHGC) pipeline was commissioned. Oando/Agip consortium awarded $3 billion gas facility contract by the Federal Government of Nigeria . Central Horizon Gas Company (CHGC) awarded mandate for Rivers State gas distribution
OGP launched it’s first Independent Power Plant, Akute IPP, a 12.15MW power plant for Lagos State water corporation. The company successfully completed $140 million rights issue which was 128% over subscribed.
In the first half of the year, Oando increased it rig count to five by acquiring two more swap rigs.
Oando emerged Nigeria’s first Indigenous Oil company with interests in producing deep water assets by acquisition of 15% equity in OML 125 and 135. The company acquired an additional drilling rig drilling its fleet to three.
Gaslink completed laying of 100km gas distribution pipeline in Lagos State. Oando Energy Services acquired two oil drilling rigs for approximately $100 million for use in the Niger Delta.
Oando became the first African company to achieve a cross-border inward listing on the JSE.<br> Oando Energy Service(OES) was incorporated
Oando Trading Limited and Oando Supply & Trading Limited was incorporated
Unipetrol Nigeria Plc merged with Agip Nigeria Plc and was rebranded “Oando”
The company bid for and acquired 60% in the equity of Agip Nigeria Plc from Agip Petroli International
Unipetrol acquired 40% in equity of gaslink Nigeria Limited to utilize its exclusive Gas Sale and Purchase Agreement with Nigeria Gas Company and later increased the stake to 51% in 2001 Ocean and Oil holding acquired 30% controlling stake in
Ocean and Oil Services Limited was founded to supply and trade petroleum products within Nigeria and worldwide
In February 1992, the company was quoted on the nIgeria stock exchange
On 1st March 1991, the company became a public limited company. Unipetrol Nigerial plc in the same year, 60% of the company was sold to the Nigeria public under the first phase of the then privatization exercise
The Nigeria Government bought Esso’s intrest and thus became sole owners of the company. The company was then re-branded “Unipetrol Nigeria Limited”
The Company commenced business operations as a petroleum marketing company in Nigeria under the name “ESSO West Africa Incorporated”, a subsidiary of Exxon Corporation of the USA