London, United Kingdom--(Newsfile Corp. - November 11, 2026) - Edison issues report on Oando (NGX: OANDO)
Oando has emerged from the NAOC acquisition with a materially larger operated asset base. The US$754m transaction doubled its working interest in OMLs 60-63 to 40%, transferred operatorship and raised the 2P reserve base to 928mmboe, backed by extensive oil, gas-processing, pipeline and power infrastructure. Current production remains low relative to this reserve and infrastructure base, leaving substantial scope for higher utilisation. The 2026-30 upstream development programme is the main driver of the next growth phase, while successful balance-sheet restructuring would increase the group's funding capacity. Execution of the programme should drive higher production, EBITDA and cash generation.
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Source: Edison Group