Rivers State Governor, Siminalayi Fubara, has reiterated his dedication to maintaining a peaceful business environment for investors, reaffirming the state’s commitment during a meeting with a delegation from Oando Energy Resources at Government House, Port Harcourt.
Speaking after the closed-door meeting, Oando’s Managing Director, Dr. Ainojie Alexander Irune, outlined the company’s ambitious production goals. Oando plans to produce 100,000 barrels of oil per day (bpd) and 1.5 billion standard cubic feet (bCF) of gas within the next five years. However, Irune emphasized that achieving these targets hinges on a harmonious relationship between Oando, the Rivers State government, and the host communities.
“We will continue investing in the upstream sector,” Irune stated. “Our ambitions for 100,000 barrels per day and over 1.5 billion standard cubic feet of gas require a stable environment. We’ve chosen Rivers State as our base, even though we operate across Bayelsa, Imo, and Delta.”
Oando’s assets, which include Oil Mining Leases (OMLs) 60, 61, 62, and 63, span these states, with Rivers State serving as the company’s main hub. Irune praised the stability of Port Harcourt, attributing Oando’s smooth operations to the peaceful climate fostered by Governor Fubara’s leadership.
“We’re here to express our gratitude to the governor for his ongoing support,” Irune added. Despite acknowledging challenges such as pipeline vandalism in certain areas, he noted significant improvements in the overall business environment.
Governor Fubara assured the delegation of his government’s commitment to ensuring a conducive environment for businesses like Oando to thrive and meet their targets.
