Oando Showcases Upstr Oando Showcases Upstream ... - Oando PLC

Oando Oandonews Oando 

A Quarterly In-house Journal of Oando Group 

Jul - Sept, 2008. Quarter 3 

Oando Oando Showcases Showcases Upstr Upstream Upstr eam Businesses 

Businesses 

at at SPE SPE Confer Conference 

Confer ence 

Oando demonstrated its 

competence as an 

emerging force in the 

upstream sector of the Nigerian 

Oil & Gas industry during the 

32nd Nigerian Annual 

International Conference and 

Exhibition (NAICE) organised by 

the National Society of Petroleum 

Engineers (SPE) and held in 

Abuja, 4-6 th August, 2008. 

The conference provided Oando 

Exploration & Production and 

Oando Energy Services the 

opportunity top showcase their 

technical expertise, product 

service lines and competences 

to leaders in the upstream sector 

of the oil and gas industry. 

Mr. Uche Dimiri, Chief Executive 

Officer, of OES, co-chaired the 

2nd plenary session on 

“Emerging Indigenous 

Oando PLC, Nigeria’s 

leading integrated 

energy solutions 

provider, announced a 65% 

growth in its third quarter 2008 

profit before tax (PBT) to N7.29 

billion from N4.42 billion in Q3 

2007. The result represents 

financial performance for the 

quarter ended 30 September 

2008. 

This positive performance, was 

largely driven by our Supply and 

Trading, Marketing and increasing 

contributions from our Gas 

distribution businesses. Once 

again the diversity and strength 

of Oando’s business model, with 

operating entities along the 

energy value chain, is an enabling 

factor in its ability to provide 

(L-R) Bill Cobb, President Society of Petroleum Engineers International and Uche Dimiri, MD/CEO 

Oando Energy Services 

Participation in the Exploration 

and Production industry”, where 

his presentation on the theme 

was discussed. 

There were over 50 technical 

papers delivered on upstream 

business operations, two plenary 

sessions addressing Nigerian 

Content Regulations and 

Indigenous Exploration and 

Production Companies. 

The three day event kicked off 

with the Official Opening 

ceremony of the Exhibition 

Stand by the Honorable Minister 

of State for Energy (Petroleum) 

Mr. Odein Ajumogobia. He paid 

a visit to the Oando Stand along 

Oando Oando Gr Grows Gr ows 3r 3rd 3r d Quarter Quarter Pr Profit Pr ofit by by 65% 

65% 

alternative energy solutions to a 

common customer base. Non-fuel 

revenues grew to N532 million in 

the quarter. 

Despite the company’s increase 

numbers of shares owing to the 

one for five bonus issued in 2008, 

Earnings Per Share increased 60% 

lending credence to the 

robustness of the Company’s 

ability to maintain an upward 

earnings trajectory. Furthermore, 

the acquisition of minority stakes 

in the subsidiaries has proved to 

be advantageous as profit 

attributable to the group grew by 

135% from N2.36 billion in 2007 

...contd on next page 

with the then Honorable Minister 

of State for Energy (Gas), Mr. 

Emmanuel Olatunde Odusina. 

The exhibition booths opening 

ceremony attracted most of the 

delegates to the Oando stand 

and Managers from both entities 

were on ground to educate 

stakeholders on the companies’ 

various businesses. Members of 

staff that represented Oando 

included Messrs Sola Falodun, 

Meka Olowola, ‘Tunde 

Ogunnaike, Victor 

Aniche(Ocean and Oil 

Holdings), Ejiro Dortie and 

Olasunmbo Olajubu. 

There was also a NAICE Annual 

General Meeting which was 

solely sponsored by Oando. 

The event ended with two 

awards night ceremony where 

Oando was honored as the 

Sponsor of the AGM Cocktail. 

Content 

Content 

Oando Sponsors IOD Oil and Gas 

Seminar - Pg. 2 

Oando Marketing Boosts Customer 

Experience - Pg. 3 

Oando Marketing TRIPPs for 

Gold - Pg. 4 

Natural Gas as Alternative 

- Pg. 5 

Photo News - Pg. 6-7 

OEPL Completes EIA on OPL 

278 and 236 - Pg. 8 

World Petroleum Conference 

- Pg. 9 

Corporate Governance - Pg. 10 

Social Diary - Pg. 11 

OandoNews

EDITOR’ EDITOR’s EDITOR’ s Note 

Note 

As we count down to the 

end of the 2008, the finish 

line is now clearly within 

sight. With our strong Q3 results, 

we are on course to breast the 

tape in style at the end of the 

year. This is our lead story this 

edition and we are sure you 

understand our excitement. 

As our custom is, we 

participated in leading oil and 

gas exhibitions/conferences 

during the quarter. Our upstream 

businesses made Nigeria proud 

at two of such to the admiration 

...contd from cover page 

to N5.55 billion reflecting strong 

performance of the group. 

Commenting on the performance, 

Wale Tinubu, Group Chief 

Executive said; “We are pleased 

to announce a sterling 

performance underscored by the 

diversity of Oando’s business 

model. This performance was as 

a result of our hard won leadership 

position in the Supply and Trading 

space, improved operational 

OandoNews 2 

Meka 

Oando Oando Sponsors Sponsors the the Institute Institute of of Dir Directors’ Dir ectors’ Oil Oil and 

and 

Gas Gas Seminar Seminar, Seminar , T TTuesday 

T uesday 9th 9th September September, September , 2008 

2008 

Oando PLC, Nigeria’s 

leading integrated 

energy solutions 

provider, has supported the 

Institute of Directors (IoDs) in 

organizing a seminar on Oil & 

Gas. The event which was held 

in Lagos, Nigeria was titled 

“Sustainable Energy 

Development in Nigeria”. 

of the Federal Government. This 

also made it to cover. 

Oando’s usual support of other 

organisations was more evident 

this quarter of The Lagos State 

Government of a greener and 

beautiful Lagos. Also the Institute 

of Directors, (IoDs) was also a 

worthy beneficiary, as Oando 

gave backing to their seminar on 

Oil & Gas. 

Meanwhile, Oando Marketing in 

the quest to creating an 

unrivalled customers shopping 

efficiency in our Marketing division 

and increased income from the 

strategic expansion of our gas 

network.” 

For the period under review, 

Oando’s unwavering commitment 

to being the leading integrated 

energy solutions provider was 

boosted by strategic acquisitions 

in the upstream sector which have 

led to significant increases in fixed 

asset balances, despite its last 

The objective was to create a 

forum where the role of the 

private sector would be 

enhanced in economic 

development and global 

competitiveness. And well as 

promote investment and foster 

trade relations within the Oil and 

gas Industry. 

experience at its service 

stations, partnered with BigTreat 

PLC, a leading Bakery and 

Confectionery outfit, to provide 

a one-stop shop for high quality 

consumers goods at the 

forecourts. 

From Gas & Power, Oando 

Exploration & Production and 

Corporate Social Responsibility, 

CRS are very interesting stories. 

The Social Dairy captured even 

more interesting events by our 

staff. Enjoy. 

equity injection being as far back 

as 2004. The Company views 

these activities as providing the 

launch pad for its drive towards 

building a sustainable business 

anchored on upstream business 

operations. 

Speaking further, he Tinubu said, 

“In a period of volatile world 

energy markets, the acquisition of 

strategic upstream assets 

remains the cornerstone of our 

Four speakers particated at this 

seminar amongst whom was the 

Group General Manager, 

Nigerian Content Division – 

NNPC, Mr. George Osahon, who 

spoke on Policy and 

Implementation in the Oil and 

Gas Industry’,. 

(L-R) Chris Onuoha, Group Head, Environment, Health, Safety, Security and Quality Assurance, Oando PLC Mrs Elizabeth Fagbure, Director General, 

Institute of Directors (IoD) and Chief Olusola Dada, President IoD during the Oil and Gas Seminar at Eko Hotel, Victoria Island 

future growth; accordingly the 

quarter recorded significant 

investments in the oil services and 

upstream sectors. We remain on 

the lookout for complimentary 

opportunities to enhance our 

portfolio in line with our 

commitment to build a resilient 

platform in our bid to maximise 

shareholder value, not just in the 

present but in the future and 

beyond” 

Oando PLC as a diamond 

sponsor of this laudable event is 

proud to demonstrate its support 

for the Nigerian Government 

initiative on the Local Content 

Participation Programme in the 

Oil and Gas Sector. 

EDITORIAL TEAM 

Editor Editor Editor Editor Editor 

Meka Olowola 

Assistant Assistant Assistant Assistant Assistant Editors Editors Editors Editors Editors 

Femi Adeyeye 

Sunmbo Olajubu 

Odion Aleobua 

Contributors 

Contributors 

Contributors 

Contributors 

Contributors 

Samuel Onyenwe 

Ani Chikere Obinna 

Graphics/Layout 

Rotimi Jenfa 

Editorial Editorial Editorial Editorial Editorial Adviser Adviser Adviser Adviser Adviser 

Tokunboh Durosaro 

Oando Oando news news 

news is a quarterly publication by 

the Corporate Communications Department 

of Oando PLC. All correspondence to The 

The 

Editor Editor, Editor Oando PLC, (9th Floor) 

2, Ajose Adeogun Street, 

Victoria Island, Lagos,Nigeria. 

Website:www.oandoplc.com 

Email: oandonews@oandoplc.com 

All All rights rights rr 

reserved. rr 

eserved. Materials Materials in in in this 

this 

issue issue may may be be r rre-printed 

r e-printed with with due due cr credit cr edit 

given given to to Oando Oando News 

News

Oando Oando Marketing Marketing Boosts Boosts Consumer Consumer Experience 

Experience 

In line with its commitment to 

unparalleled customer 

satisfaction, Oando Marketing 

Limited, Nigeria’s leading oil 

retailer, has announced a 

strategic partnership with a 

leading bakery and 

confectionary business outfit in 

Nigeria, Big Treat PLC. 

This strategic partnership 

provides that Oando Marketing 

offer 58 numbers of its over 500 

service stations to Big Treat to 

expand its distribution bases 

across Nigeria. This 

development is expected to 

further make the Oando service 

stations a one-stop shop for high 

quality consumer products. 

The expansion plan will begin 

with 6 stations in Lagos State by 

the 25 th of September 2008, and 

then 8 by the end of November 

2008, before finally spreading to 

service stations around the 

country. 

Tuesday, September 2nd, 

2008, was billed to be a 

remarkable day. Right from 

the crack of dawn, the heavens 

literally flung open the lid to its 

lakes and fill mother earth with 

almost all its liquid contents. It 

rained all day! 

Interestingly, it was also the day 

Lagos State Government set 

aside for the launch of 

“Operation Greener Lagos” 

campaign. The campaign is 

designed to turn the city of Lagos 

into an enviably beautiful place 

with minimal emission of 

dangerous gasses into the 

atmosphere. 

As a laudable programme, 

Oando decided to collaborate 

with Lagos State Government to 

make success of the initiative. So 

while the rain poured in what 

seemed like perpetuity, Oando 

and the Lagos State Government 

...Signs ...Signs Partnership Partnership with with Big Big T TTreat 

T eat 

Commenting, Mrs. Lara Banjoko, 

the Chief Operating Officer, 

Oando Marketing Limited, said, 

“At Oando we are constantly 

seeking ways to improve 

consumer experience on our 

forecourt, this partnership 

therefore excites us as it present 

us another opportunity to 

provide value-added services to 

our customers. This is just one 

of the few planned strategies 

through which we will continue 

to enhance one-stop-consumer 

experience we are known for”. 

Also commenting, Mrs. Pamela 

Wu, Managing Director, Big Treat 

PLC stated, “Today marks a 

significant day in the history Big 

Treat, as this strategic 

partnership will provide us the 

good opportunity of reaching our 

numerous customers nationwide 

faster with our high quality and 

nutritious foods. We share in 

Oando Marketing’s vision of 

delivering a unique customer 

experience at its service stations 

and we are committed to 

exceeding expectations by the 

quality of our products and 

services”. 

As Big Treat is one of Nigeria’s 

operators of Fast Food outlets, 

convenience store marketers 

and household supermarkets, 

the services will be available at 

Oando service stations, on size 

by size basis. Some stations will 

feature all three services while 

others will be just one. 

With this partnership, Big Treat 

will be joining other brands that 

have partnership deals with 

Oando Marketing, such as 

Chicken Republic, and Tasty 

Fried Chicken. 

(L-R) Oshai Michael, Chief Marketing Officer, Oando Marketing, Lara Banjoko, Chief Operating Officer, 

Oando Marketing and Pamela Wu, Managing Director, Big Treat PLC after signing the terms of 

agreement for the partnership. 

Oando Oando Plants Plants T TTrees 

T ees for for Gr Greener Gr eener Lagos 

Lagos 

teams displayed an unshakable 

will to make the day indeed 

remarkable,. 

The Oando team consisting of 

Lawal Sade, Chief Sales Officer, 

Oando Marketing, Meka 

Olowola, Head Corporate 

Communications, Mrs. Rukayat 

Kasali, Dealer, Oando filling 

Station, Tin Can Island, Apapa, 

Dr. Oyet Gogomary, Head EHSQ 

and the indefatigable Timothy 

Odepe, also of EHSQ, 

disregarded the discomfort of 

the rainfall to flag-off Oando’s 

Tree Planting Campaign in the 

Oando Service Station at Tin Can 

Island, Apapa, Lagos. 

So under the cover of Oando 

branded umbrellas went Mr. 

Olowola, Mrs. Kasali, Dr. Oyet 

and Mr. Lawal. They astutely, 

lowered the little plant into an 

already dug, manure-rich hole in 

a symbolic planting gesture and 

then followed by patient wait for 

the three Photo Journalists from 

Vanguard, Business Day and the 

Guardian to get perfect shots. 

Commenting on the exercise, Dr. 

Oyet, who led the team, said “In 

the quest to satisfy the energy 

needs of our customers, nature 

had to give way for a service 

station stand. Today, we are set 

to reverse the trend and plant 

trees to create a balance for 

nature and our lives. Going 

forward, Oando shall plant at 

least a tree everywhere our 

service stations are located, by 

so doing, we will help reduce the 

carbon emission to our 

environment”. 

Oando Team members planting a tree at Tincan Island service station 

3 OandoNews


Marketing 

Oando Marketing in a bid 

to re-energize the team 

for a stronger second 

quarter held its 2008 Sales & 

Marketing retreat at MicCom 

hotel and resort, Ibokun, Osun 

State on Thursday 28 th to Sunday 

31 st August, 2008. The theme for 

the year’s conference was 

“TRIPPing for Gold” coined from 

the Groups core value, TRIPP 

and the project name for OML’s 

transition from a fully owned 

subsidiary of Oando PLC to a 

publicly listed company, 

BlackGold. 

Oando Oando Marketing Marketing TRIPPs TRIPPs for for Gold 

Gold 

The event provided the team the 

good opportunity to bond as a 

team, reflect on the key drivers 

of H1 performance, the strategy 

for winning in H2, the tools and 

requirements for delivering the 

set objectives and securing the 

commitment of all in ensuring 

OML does not only finish the year 

strongly but most importantly 

continue to be a relevant volume 

and value contributor to the 

Group. 

Addressing the gathering, Mrs. 

Lara Banjoko encouraged the 

team on the need to have a shift 

in mentality in our approach to 

issues to a more productive and 

positive one. She encouraged 

the team to stop the attitude of 

apportioning blames but rather 

propose solutions, working as a 

team as opposed to working as 

an individual and the change in 

our mindset from thinking that 

that our effort only benefits the 

organization as we all would be 

better for it. She also highlighted 

the need to respect our core 

value, TRIPP from where the 

theme for the conference was 

coined. 

The retreat provided the 

opportunity for the team’s 

exposure to the operations of the 

various business units in the new 

Oando Marketing as the unit 

Heads gave insights into their 

operations. The forum was also 

featured talk from motivational 

speakers, review and strategy 

sessions, Q & A sessions and 

spiced up with various team 

bonding activites, recreational 

activites, performance by guest 

comedian, dinner and award 

night among others. 

Lara Banjoko, Chief Operating Officer, Oando Marketing during a presentation at the event Cross section of Oando Marketing staff members at the retreat 

(L-R) Emwanta Erhahon, Commercial Branch Manager, Marine, Oladipo Olamide, Commercial Branch 

Manager, Lagos and Ekuri Charles, Commercial Branch Manager, Ibadan 

Group photograph of Oando Marketing staff members

Gas & Power 

Natural Gas utilisation has 

globally been accepted as 

the most environment 

friendly energy source even though 

the level of consumption is still very 

low in Nigeria. The choice of natural 

gas as the cheapest and best 

alternative to liquid fuel became an 

issue after the Kyoto Treaty of 1996 

as a strategy to reduce pollution of 

the environment and global 

warming from burning of liquid fuel 

especially by automobiles and 

generators of manufacturers. 

According to a study conducted by 

the Nigerian Gas Association 

(NGA), the use of natural gas will 

enable the user to save 30 per cent 

of cost compared with the low pour 

fuel oil (LPFO), the cheapest liquid 

fuel. However, after over a decade, 

Nigerians are yet to come to terms 

with the benefits of using natural gas 

and this is why the Federal 

Government continues to budget 

billions of naira annually to subsidise 

the consumption of liquid fuel, a 

major catalyst of environmental 

pollution. For instance, in the first 

budget appropriation bill for 2008 

submitted to the National Assembly, 

President Umaru Yar’Adua had 

proposed an expenditure of N400 

billion as fuel subsidy but was forced 

to raise it to N500 billion during the 

final review of the budget when the 

prices of crude oil passed the $100 

per barrel benchmark in December 

2007. Even though the subsidy is 

designed mainly for premium motor 

spirit (PMS) and kerosene, the 

plans by the government to include 

subsidy of diesel under the 

petroleum support fund (PSF) in 

response to protests by the National 

Union of Petroleum and Natural Gas 

(Nupeng ) and National Association 

of Road Transport Owners (Narto) 

is likely to exceed N1 trillion 

according to the estimate of Mr. 

Odein Ajumogobia, minister of state 

for Energy (Petroleum). Also in a 

survey conducted recently by The 

Economy, it was estimated that 

Nigerian banks spent N54.3 billion 

on the utilization of diesel for 

generating electricity in 2007. In 

Nigeria today, several companies 

are relocating their plants from 

Nigeria to neigbouring countries in 

Natural Natural Gas Gas as as Alter Alternative Alter native Fuel 

Fuel 

order to take advantage of the 

cheaper source of energy since 

power supply in Nigeria is not 

reliable and cost of using diesel has 

wiped off their profits. 

A A better better envir envir environment 

envir environment 

onment 

In addition to the perceived 

economic benefits of using natural 

gas, the real gains may be 

environmental. The study 

conducted by the West African Gas 

Pipelines (WAGPP) concluded that 

greenhouse gas emissions in 

Nigeria would fall by 78 million tones 

(T) over a twenty-year period as gas 

flaring is reduced. In this case, 

unrests in the Niger Delta will also 

become a thing of the past by the 

time oil firms operating in the region 

put their natural gas into economic 

use whereby jobs would be created 

for the unemployed youths and 

farmers can get produce from their 

farmlands when rays of fire from 

flaring stopped. Nigerian now burns 

off about 2 billion cubic feet (bcf) of 

gas per day, which constitutes 

roughly 75 per cent of the country’s 

total gas output, and is a major 

source of carbon dioxide and 

methane emissions in the region. 

Nigeria has an estimated 182 trillion 

cubic feet (tcf) of proven natural gas 

reserves, the tenth largest in the 

world. 

Gover Government’ 

Gover Gover nment’ nment’s nment’ s support 

support 

The creation of a gas ministry by 

the present administration is aimed 

at giving due attention to the 

utilization of natural gas in the 

country and elimination of flaring by 

oil companies. However, efforts 

should be put in place to have laws 

that will make it mandatory for 

industries to use natural gas. Also 

direct investment should be made 

by the government to improve gas 

infrastructure so that natural gas can 

easily be transported from the fields 

to city centres where demand 

requirement is very high. lot of 

investment opportunities abound in 

the natural gas sector of the Nigerian 

petroleum industry. Increasing 

attention is now being given to this 

vital sector. Government’s 

aspirations for the gas sector 

include creating new industries out 

of the old oil industry; capturing 

economic value and generating as 

much revenue from gas as from oil 

by 2010. Others are developing the 

domestic gas market and, ending 

gas flaring by 2008. 

Conclusion 

Conclusion 

Remarkable progress has been 

recorded towards the realization of 

these objectives. Of the current 

annual gas production of about 

2,000 bscf, about 40% is flared. This 

is a drastic drop from the 70 per 

cent proportion flared before the 

advent of this administration. The 

hitherto flared gas is being 

channeled into gas powered 

projects for rapid utilization and 

monetization with a view to 

maximizing value addition to the 

nation’s natural gas resource by 

2010. 

Domestic gas consumption is 

expanding as a result of the 

ongoing power sector reforms while 

gas export which was non-existent 

prior to 1999, has received a strong 

boost. 

As a result of various projects 

established, total gas utilized in the 

country increased from about 197 

million standard cubic feet per day 

Ongoing pipe laying construction in Apapa, Lagos 

mmscf/d in 1999 to about 573 

mmscf/d in 2004. Substantial 

demand growth is expected in this 

decade. 

In order to achieve the Federal 

Government’s aspiration of earning 

the same level of income from gas 

as in oil by 2010, subsidy of PMS 

and kerosene should be suspended 

and plans to bring diesel under PSF 

should be put on hold. This is 

because beneficiaries of subsidy are 

not the low income earners but the 

rich. Instead, the annual budget on 

fuel subsidy should be directed at 

developing infrastructure that will 

improve access to natural gas which 

will therefore encourage the 

establishment of industries and 

generation of employment in the 

country. Consequently, domestic 

demand for natural gas in Nigeria will 

increase to about 1700mmscf/d by 

2010. 

Senator Osita Izunaso, chairman, 

Senate Committee on Gas said the 

need to reposition the Nigerian gas 

sub-sector informed the initiation of 

reforms by the Federal Government. 

He said the Senate is expecting the 

bill that would give legal backing to 

this reforms so that , it is when we 

receive the bill that we can then talk 

of gas act and we are looking forward 

to it. 

Excerpts from Financial Standard 


The 2 nd Quarter TGIF took 

place at the prestigious 

civic centre on Ozumba 

Mbadiwe Street, Victoria Island. 

Staff from Apapa, Ikeja and the 

Head Office converged to relish 

OandoNews 

Oando Oando Holds Holds Half Half Y YYear 

Y ear TGIF 

TGIF 

the quarterly staff get-together. 

On the list of thrills for all staff 

was Seyi Law, the wave-making 

upcoming comedy act who 

thrilled every one present to his 

rib-breaking jokes. The Pot- 

Pourri of Music (from old school 

to new school, juju, fuji, hip –hop 

and all the works), provided by 

the DJ electrified the audience 

as they danced and twined to 

the tunes. 

The highlight of the night came 

with Naeto C and Ikechukwu 

performing live to the excitement 

of all present. The duo dropped 

songs such Whine Am Well, Kini 

Big Deal e.t.c 

It was a night of pure fun. 

(L) Naeto C and Ikechukwu performing during the event Dimeji Edwards, MD/CEO Oando Supply and Trading (L) and Wale Tinubu, GCE, Oando PLC 

Cross section of Oando staff members at the event Becky Ikhioda, Admin Services Manager, Procurement & Services (L) and Sade Onyia, ED, Finance/ 

Chief Operating Officer, Supply & Trading 

(L-R) Uche Dimiri, MD/CEO Oando Energy Services, Akin Ayoola, Group Head Human Resources 

and Engr. S.A Giwa , Head Special Projects 

(L-R) Bayo Lambo, Corporate Communications, Eniola a guest, Oluwole Tinubu and Wunmi Onile- 

Ere both of Supply & Trading

Oando Oando Supports Supports Metr Metropolitan Metr opolitan Primary Primary School 

School 

Prize Prize Giving Giving Day 

Day 

Oando supported the 

Prize Giving Day of 

Metropolitan Primary 

School Sari- Iganmu, one of the 

schools adopted under Oando’s 

Adopt – A – School programme 

on the 2 nd of September, 2008. 

The participation in the school 

activity symbolizes Oando’s 

commitment to take active and 

direct participation in the 

empowerment of education in 

host communities of its 

operations. 

The event celebrated excellence 

and rewarded hand work based 

on academic performances, 

participation in school vocational 

activities, leadership, amongst 

others. Two very special awards 

where presented by Oando, 

which were the Oando Best 

School Living Girl and Boy 

Certificates and cash prizes. The 

awards marked the recognition 

and support of the best 

academic performances of both 

female and male students in the 

2008 school leaving primary six 

classes. 

The continuous support of 

school activities, under the 

Oando Adopt-A –School 

programme, such as the Prize 

Giving Day, Sports Day, etc. 

aims to further strengthen the 

partnership between Oando and 

host communities. 

(L-R) Meka Olowola, Head Corporate Communications, Oando PLC, Oyet Gogomary, Head EHSQ, 

Oando PLC, a female teacher in the school and the Head Master, Mr I. B. Ojo 

Faces Faces at at the the W WWorld 

W orld Economic Economic Forum Forum South South Africa 

Africa 

(L-R) Yomi Awobokun, EA to GCE, Femi Adeyemo, Group Chief Finance Officer and Bolaji 

Osunsanya, MD/CEO Oando Gas & Power 

Aliko Dangote, President Dangote Group (L) and Bolaji Osunsanya, MD/CEO, OG & P 

Goldman Goldman Sachs Sachs holds holds Diversity Diversity W WWalk 

W alk 

with with W WWale 

W ale Tinubu Tinubu as as Panelist 

Panelist 

Wale Tinubu, Group Chief Executive and Navaid Burney, Director Oando PLC. (L-R) Tope Lawani, Helios Partners, Wale Tinubu, GCE, Oando PLC, Bernard Mensah, Goldman 

Sachs, Patrick Smith, Africa Confidential and Alan von Sponeck, Goldman Sachs during the panel 

session. 

OandoNews


Upstr Upstream Upstr eam 

OEPL OEPL Concludes Concludes EIA EIA on on OPL OPL 278 278 and and OPL OPL 238 

238 

Representative of the Honourable Minister for Environment Dr N.G. Ekeh flanked by panelist address 

stakeholders on 23rd September, 2008 at Aldgate Hotel, Port Harcourt 

The Minister for 

Environment Housing 

and Urban Development 

(FMEH & UD) commended 

OEPL for conducting an 

Envir Environmental Envir onmental Impact 

Impact 

Assessment Assessment (EIA) for OPL 236 

and 278. The minister who was 

represent by a Director in the 

Ministry Dr N.G Ekeh made the 

commendations during OPL 236 

and OPL 278 EIA panel reviews 

held in Uyo Akwa Ibom State on 

5 th August 2008 and Port 

Harcourt Rivers state on 23 rd 

September 2008 respectively. 

During the minister’s 

representative remark at the 

panel reviews, Dr Ekeh 

commended OEPL for 

embarking on the EIA before 

commencement of field 

operation in the blocks in line 

with the FMEH & UD regulation. 

A cross section of communities representatives 

...gets ...gets Minister’ Minister’s Minister’ s Thumps-Up 

Thumps-Up 

He further applauded OEPL for 

setting the pace for other 

indigenous oil firms in executing 

EIA studies in areas of operation 

as well as the Panelist, 

communities and other 

stakeholders for participating 

actively in the EIA panel reviews. 

The EIA panel reviews were 

successful. 

The OPL 236 review panel was 

chaired by Prof B.E.B. Nwoke 

while other specialists in the 

panel were Dr. P F Umanah, 

Engr. T. Ogungbemi, Dr I 

Udousoro, Mrs. T. O Bankole, 

O.A. Obanewa, C. Gomwalk, 

and F. Odita. Similarly, the OPL 

278 review panel was chaired by 

Prof. D.O. Otobo while other 

specialists in the panel were Dr. 

A.C. Tse, Dr. E. T. Iyagba, Dr. 

A.J.T. Otoboterea, G.N. Kamalu, 

Celestine Gomwalk, Ochuba 

Augusta and Fred Odita. 

(L-R) Samuel Onyenwe, Community Relations Manager, OEPL, Prof. S. R. A. Adewusi, EIA Consultant 

and Harris Ani, EHSQ (QA/QC) Engineer, OEPL 

Akwa Ibom state deputy speaker, Honurable Okon Uwah and other members of the panel during 

OPL 236 EIA Panel Reveiw 

The Environmental Impact 

Assessments act of 1992 

presuppose that all projects 

including oil and gas, must 

undergo an EIA study to 

determine the impact of the 

project on the immediate 

surroundings. This is to ensure 

that potential problems in any 

new project are foreseen and 

addressed in the project design. 

Major impact indices studied 

include but not limited to Social 

and Health Impact Assessment 

as well as impact of proposed 

activities on the surrounding 

Waters, Air, Land and 

ecosystem. 

OPL 236 located, in Akwa Ibom 

State was awarded to OEPL in 

2005 while OPL 278 located in 

Rivers State was awarded in 

2006. Both blocks have a 

Production Sharing Contract 

(PSC) and are at various stages 

of its Field Development Plan 

(FDP). It is expected that 3D 

Seismic data acquisition and 

Drilling activities will start from 

last quarter of 2008. 

OEPL was represented at the 

reviews by Eamon Labode 

Akinosho (COO) Tony Sawyerr 

(Well Operations Manager) 

Harris Ani (EHSQ Mgr) and 

Samuel Onyenwe (Community 

Relations Manager). 

Presently, OEPL is operator of 

OPL 278 on behalf of NNPC, 

Camac International limited, 

Allied Energy Resources , First 

Axis Oil & Gas ltd and also 

operator for OPL 236 on behalf 

of NNPC and RFO ventures 

limited.

Oando Oando Shines Shines at at WPC 

WPC 

...As ...As Minister Minister beckons beckons on on others others to to emulate emulate Oando 

Oando 

L-R: Odein Ajumogobia (SAN), Honourable Minister of State - Petroleum, Dr. Levi Ajuonuma, Group 

General Manager, Group Public Affairs Division, NNPC and Tokunboh Durosaro, General Manager 

Corporate Services, Oando PLC 

Oando Exploration and 

Production literary 

blazed the trail for other 

indigenous upstream company 

at the World Petroleum 

Conference (WPC), held in the 

city of Barcelona, Spain. 

Oando, which was one of the few 

Nigerians companies that 

participated in the four-day 

conference/exhibition, was 

easily the star attraction to 

prospective investors and 

visitors to the Nigerian stand at 

the fair, which had as its theme: 

“A World In Transition: Delivering 

Energy For Sustainable 

Development.” Other companies 

that participated in the exhibition 

included Oceanic Bank 

International as well as Bayelsa 

and Rivers states 

Amongst the Nigerian content at 

the event, the Minister of State 

for Energy (Petroleum), Odein 

Ajumogobia singled out the 

Oando for commendations. 

During an investors’ dinner 

hosted by head of the Nigerian 

delegation to the conference, the 

Minister acknowledged in 

glowing terms, the company’s 

development of infrastructure for 

the supply and distribution of the 

nation’s gas resources for 

industrial and domestic uses. 

OEPL OEPL Donates Donates Additional Additional 75HP 75HP Y YYahama 

Y ahama Out Out Boar Board Boar 

Engine Engine to to Abissa Abissa Community 

Community 

L-R: Sam Onyenwe, Community Relations Manager (OEPL), Chief Mathew Opute (Abissa Community 

Secretary) Tony Sawyerr, Well Operations Manager (OEPL), Aloiye Aigbonoga, Legal Manager 

(Oando PLC) and Mr Erekodema Tonye CDC (Abissa Community) during OEPL’s donation of an 

additional (One) 75HP Yamaha Engine to Abissa Community on16 th July 2008. 

Odein Ajumogobia (SAN), Honourable Minister of State - Petroleum (L) and Eamon Labode Akinosho, 

Chief Operating Officer, OEPL 

“For prospective investors 

interested in coming to do 

business in Nigeria, you should 

not only emulate the worthy 

example of the Oando Group 

and other indigenous 

companies in developing the 

nation’s energy for sustainable 

development, but also 

endeavour to take their 

testimonies about the conducive 

business environment in Nigeria 

seriously,” Ajumogobia told 

guests at the dinner. 

“For prospective investors 

interested in coming to do 

business in Nigeria, you should 

not only emulate the worthy 

example of the Oando Group 

and other indigenous 

companies in developing the 

nation-’s energy for sustainable 

development, but also 

endeavour to take their 

testimonies about the conducive 

business environment in Nigeria 

seriously,” Ajumogobia told 

guests at the dinner. 

According to the minister, Oando 

Group has not only remained the 

leading force in the downstream 

sector of the nation’s petroleum 

industry, but also one to reckon 

with as an integrated oil and gas 

company determined to 

promote the use of gas as a 

viable alternative source of 

energy for industries and homes. 

Haulage wooden boat earlier donated to the community as part of the pre entry activity in June 

this year. 


The term whistleblower derives 

from the practice of English 

Bobbies (Police Constables), 

who would blow their whistles when 

they noticed the commission of a 

crime. The whistle would alert both 

law enforcement officers and the 

general public of danger. 

In modern day parlance it refers to 

an employee, former employee, or 

member of an organization, 

especially a business or government 

agency, who reports misconduct to 

people or entities that have the power 

and presumed willingness to take 

corrective action. The misconduct 

may be a violation of a policy, law, rule, 

regulation and/or a direct threat to 

public or corporate interest, such as 

fraud, health/safety violations, and 

corruption and which usually has 

adverse effects on the organization. 

Whistle blowing over the past few 

years has been a critical tool for 

exercising control over corporate 

organizations, by exposing wrong 

doing, and setting the machinery in 

motion for punishment of such wrong 

doings. it provides the platform for 

which prevention of such wrongdoing 

in the future can be put in place. 

Some famous whistleblowers include 

the following: 

• Jeffrey Wigand, a Brown & 

Williamson executive who 

exposed the Big Tobacco 

scandal, revealing that 

executives of the companies 

knew that cigarettes were 

addictive and approved the 

addition of carcinogenic 

ingredients to the cigarettes. 

• David Franklin, a former Parke- 

Davis employee (a division of 


Whistle Whistle Blowing Blowing – – The The Corporate Corporate Guar Guard Guar 

Pfizer) who exposed illegal 

marketing of Neurontin 

(gabapentin), an epilepsy drug, 

for relieving pain, headaches, 

bipolar disorder and other 

psychiatric illnesses. The case 

revealed that the company 

marketed the drug for these 

illnesses while withholding 

evidence that the drug was not 

effective for these illnesses. After 

initially denying wrongdoing, 

Pfizer pleaded guilty to criminal 

violation of the Food, Drug and 

Cosmetics Act and paid criminal 

and civil fines of $430 million 

dollars. 

• Linda Tripp, a former White House 

staff member who disclosed to 

the Office of Independent 

Counsel that Monica Lewinsky 

committed perjury and attempted 

to suborn perjury, and President 

Bill Clinton committed 

misconduct, by denying the 

Clinton-Lewinsky relationship in 

the Paula Jones federal civil rights 

suit. 

The Board of Directors recently 

approved a Whistle Blowing Policy for 

the Company, being a World Class 

entity and a champion of good 

Corporate Governance 

The Policy enables staff to raise 

certain concerns about the following 

activities; 

• Crimes; 

• Fraud, bribery and corruption; 

• Contravention of the code of 

business conduct & ethics e.g. 

insider dealing, conflict of interest, 

facilitation payments, etc; 

• Abuse of office or responsibility 

in connection with unauthorized 

activity for personal gain; 

• Compromise of company’s 

EHSQ procedures; 

• Sexual or physical abuse; 

• Other unethical behaviour. 

in a confidential manner, and receive 

feedback on the action taken. A key 

feature of the whistle blowing process 

is the need to maintain confidence 

and protect the identity of a reporter 

where possible.. 

To further underscore the importance 

of whistle blowing in corporate 

governance the Investment and 

Securities Act 2007 in one of its 

innovative provisions provides 

statutory backing for whistle blowing 

in Section 306 as follows: 

“An employee of a public company 

shall have the right to disclose any 

information connected with the 

activities of his work place which 

tends to show that a criminal offence 

has been, is being, or is likely to be 

committed, that a person has failed, 

is failing, or is likely to fail or omit to 

comply with a legal obligation, or that 

such crime, failure or omission is 

likely to be deliberately concealed “ 

The Act also makes provision for 

protection of such employees in 

Section 306(5): 

“No employee shall be made to 

suffer any detriment on the ground 

that he has made a disclosure under 

the Act. Where an employee suffers 

any detriment for such a disclosure, 

he can make a complaint to the SEC, 

and the SEC after investigation if it 

finds that this provision has been 

contravened, order the reinstatement 

and payment of 

compensation to the employee, 

where the employee is dismissed 

the employee shall be entitled to 

compensation which shall be 

calculated as if he had attained the 

maximum age of retirement or had 

served the maximum period of 

service” 

It should be noted however that such 

reports made by employees should 

be in good faith, it does not matter 

that the report is wrong as long as the 

reporter had an honest belief that the 

report is genuine. 

It should also be noted that whistle 

blowing is a tool which is used to 

protect a company and not one which 

is used to harm it. for example if this 

process is not put in place the reporter 

may feel compelled to make the 

report to the press or a law 

enforcement agency, this will certainly 

expose the company to adverse 

publicity which is certainly not good 

for any public company. 

A hotline facility is a critical tool in the 

implementation of the whistle blowing 

process. A hotline is usually operated 

by an independent company which 

will provide different means of making 

anonymous reports (telephone, 

email, fax). The purpose of the hotline 

is to encourage reporting of 

suspected wrongdoing and to assist 

in the detection of fraud. 

In conclusion, all staff have a duty to 

ensure the overall success and 

growth of our company, this is one of 

the ways by which the Company can 

gain its rightful place amongst other 

International blue chip companies 

that have imbibed good corporate 

governance. 

By Ani Chikere Obinna 

Compliance Officer

Social Diary 

Bamidele Odufuye and Naomi Odufuye (EHSQ) (R) during their engagement ceremony at the Emokaro 

residence in Lagos. 

Oyedayo Oyefi (HCM) and his lovely bride Titilayo during their engagement ceremony at Vining Hall, 

Archbishop Vining Memorial Church, GRA, Ikeja, Lagos. 

Ngozika Achebe’s (HCM) son, Chimdile was one on Saturday 6th September, 2008 

(L-R) Ezekiel Oloko, Samuel Boyo, Hassan Lawal, Hakeem Reheem, Innocent Akpan, Akpo Owhojegheri, 

Joseph Sanyaolu, Oando drivers who recently graduated from police college Ikeja, 

Mor More Mor e pictur pictures pictur es fr from fr om Oandos’ Oandos’ Half Half Y YYear 

Y ear TGIF 

TGIF 

Samuel Mbanaga, CS & L (L) and Toyin Araromi, Compliance Manager 

Wonuola Oyeledun, Ukinebo Isibor both of IT Dept with Joke Oyebanji, OEPL

Oando Showcases Upstr Oando Showcases Upstream ... - Oando PLC

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