WorldStage– Oando Plc, the biggest indigenous energy company missed the opportunity to execute the recently commissioned Elebele Power plant in Bayelsa state which it proposed to commit $350 million in 2015, but it has now bagged the gas supply contract for the plant .
In a statement , Oando said the gas supply deal is a joint venture with the NNPC Exploration and Prospecting Limited.
“The NEPL/Oando JV is the sole gas supplier to the plant, with a contracted volume of 11.2 million standard cubic feet per day (11.2 MMSCFD),” Folashade Ibidapo-Obe, company secretary, said in the statement.
Oando also said it executed the Front-End Engineering Design (FEED) and Detailed Engineering Design (DED) for the tie-in connection infrastructure linking the IPP to the JV’s existing gas network, with advanced safety mechanisms.
The Elebele project and others around the country, including the Akute plant in Ogun, and the one at Alausa, Lagos, demonstrated the biggest indigenous energy provider has the capabilities to deliver.
Oando CEO, Wale Tinubu said the new plant reflects his company’s long-standing commitment to Bayelsa and its people.
“By enhancing power reliability, we are helping to unlock new opportunities for businesses, improve living standards, and stimulate broader economic growth across the state.”
How Oando missed winning and delivering the entire Elebele plant might be connected to its financial crisis the following years, the fallout of its 2024 acquisition of Nigerian Agip Oil Company’s assets and liabilities, including oil spillage, unemployment, and hostile communities in Bayelsa.
