Business is booming.

Oando Calls for Pan-African Collaboration in Energy Transition at Africa Oil Week

By Faridat Salifu

Dr. Ainojie Irune, the Chief Operating Officer of Oando Energy Resources, delivered a compelling message at the recent Africa Oil Week in Cape Town, South Africa. He called for increased collaboration among African nations to expedite the continent’s transition to cleaner energy sources.

In his address, Dr. Irune emphasized the unique opportunities and challenges facing African countries in their pursuit of an energy transition. He pointed out the vast energy production deficits and the abundant renewable energy resources across the continent. Individually, many African nations lack the financial, technical, and human capacity required for a comprehensive green energy transition.

Dr. Irune stressed the importance of regional cooperation to streamline the costs and implementation of renewable energy projects, ultimately driving progress for Africa.
During the Energy Leaders Debate, themed “How can the African continent attain sustainability and increase access to modern energy services for its people?” Dr. Irune highlighted Africa’s potential as a renewable energy powerhouse. He urged industry leaders to use events like the Africa Oil Week to propel Africa forward faster on its journey towards a sustainable energy future.

Furthermore, at the annual strategic international conference of the Association of Energy Correspondents of Nigeria (NAEC) in Lagos, a representative of Oando discussed the importance of creating an attractive investment climate. The key elements included improving the ease of doing business, offering a predictable legal and policy framework, and addressing fiscal regimes to attract investors.

Oando reiterated its commitment to supporting the Nigerian government’s efforts to enhance investments in the gas value chain. The company sees gas as a vital transitional fuel to reduce carbon emissions in line with global climate commitments.
Oando plans to collaborate on a gas monetization project.
Highlighting its commitment to diversity and inclusivity, Oando revealed that over 40% of its top leadership team comprises women. This achievement in an industry traditionally dominated by men underscores the company’s inclusive approach.

The conference provided a platform for industry experts to discuss strategies for overcoming challenges in Nigeria’s energy transition and attracting foreign direct investment into the oil and gas sector. Notable participants included regulators, operators, and off-takers, who shared their insights.

Heritage Energy Operational Services Limited (HEOSL), an affiliate of Heritage Oil Limited and a key player in Oando’s operations, actively participated in these discussions, further underlining its commitment to shaping the future of Africa’s energy landscape.

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