Nigerian local oil firm, Oando Plc, has signed a production sharing contract (PSC) for Block KON 13 in Angola, a significant expansion of the company’s upstream oil and gas operations in Africa.
The company disclosed the development in a statement posted on its official X (formerly Twitter) page, stating that the oil block is located in the Kwanza Onshore Basin and is estimated to hold between 770 million and 1.1 billion barrels of prospective oil resources.
According to Oando, the block presents significant exploration opportunities and aligns with the company’s strategy to expand its upstream portfolio across Africa.
“Oando PLC has signed the Production Sharing Contract for Block KON 13 in Angola. Located in Kwanza Onshore Basin, the block is estimated to hold between 770 and 1,100 million barrels of prospective oil resources, presenting significant exploration potential for us,” the company said.
Partnership with Angolan energy firms
Furthermore, Oando said its upstream subsidiary, Oando Energy Resources, will serve as the operator of the block with a 45 per cent participating interest.
The company will work in partnership with Effimax Energy, Sonangol and Walcot Limited to develop the asset and unlock its commercial potential.
“As an operator with a 45% stake, Oando Energy Resources will work alongside Effimax Energy, Sonangol and Walcot Ltd to unlock the value of this asset and support Africa’s energy development,” the company added.
Industry analysts say Angola remains one of Africa’s top oil producers, and new exploration projects in onshore basins such as Kwanza are expected to boost the country’s production capacity and attract foreign investment into the sector.
The development also reflects increasing collaboration among African energy companies in upstream oil exploration and production.
Workshop on biodegradable plastics
In a separate development, Oando also announced that it partnered with the Federal Ministry of Environment and Polymateria Limited to host a one-day workshop focused on biodegradable additives used in single-use plastics.
The company said the workshop addressed the environmental impact of plastic waste and explored how biodegradable technology could help reduce pollution caused by single-use plastic materials.
“In collaboration with the Federal Ministry of Environment and Polymateria Ltd, we hosted a one-day workshop that addressed the role of biodegradable additives in single-use plastics,” the company said.
Oando added that the workshop brought together stakeholders across the plastics value chain and environmental sector to discuss sustainable solutions and practical implementation strategies.
“Many thanks to our partners and contributors, and we look ahead to deepening this work through practical implementation across the value chain,” the company added.
The Angola oil block agreement is expected to strengthen Oando’s upstream portfolio, while the environmental collaboration reflects growing pressure on energy companies to adopt more sustainable practices as part of global energy transition efforts.
The company has continued to position itself as a major indigenous energy company operating across the oil and gas value chain in Africa, with investments in exploration, production, trading, and energy services.
