StocksMedium•11 November 2026•
1 min read
Edison Highlights Oando Asset Expansion Following $754M NAOC Acquisition
Key Facts
1Edison issued a report on Oando highlighting its expanded asset base following the NAOC acquisition.
2The $754m transaction doubled Oando's working interest in OMLs 60-63 to 40%.
3Oando's 2P reserve base rose to 928mmboe following the acquisition.
Edison Research issued a report on Oando highlighting the expansion of the company's asset base following the acquisition of Nigerian Agip Oil Company (NAOC). Newsfile Corp reported that the $754 million transaction doubled Oando's working interest in oil mining leases OMLs 60-63 to 40%.
The acquisition increased Oando's 2P reserve base to 928 million barrels of oil equivalent. The report detailed the company's operational growth following the transfer of operatorship, strengthening its position within the Nigerian energy sector.