Oando confirms acquisition of Agip pending regulatory approval

Nigerian energy company, Oando has officially confirmed its acquisition of Nigerian Agip Oil Company (NAOC), a subsidiary of the Italian energy conglomerate Eni, following the signing of the agreement.

Wale Tinubu, speaking on behalf of Oando, emphasized the crucial role that indigenous players will play in shaping the future of Nigeria’s upstream sector through this agreement.

Nairametrics learns that NAOC holds interests in four onshore blocks, two onshore exploration leases, and two power plants within Nigeria.