The Nation Newspaper

Tag: Petralon Energy

  • Indigenous energy firm appoints executive director

    Indigenous energy firm appoints executive director

    Petralon Energy, indigenous oil exploration and production firm, has appointed Uduak Equere as executive director, from today.

    In the past year, Petralon has advanced key milestones across its portfolio, strengthening its operational execution, financial position, and institutional foundations. These developments have reinforced its standing  in Nigeria’s independent oil and gas sector and signal its readiness to pursue the next phase of growth.

    Uduak will serve as chief Commercial officer, and as executive director of Petralon 54, a subsidiary of Petralon Energy, while also assuming expanded responsibilities at the group level. His appointment reflects leadership that has delivered value across commercial development, corporate finance, and operational execution.

    Before joining Petralon Energy, Uduak had served in leading energy and investment institutions. He began his career at Vetiva Capital Management as Investment Analyst, where he covered energy sector equities, shaped market perspectives on Nigeria’s oil, gas, and power sectors, and regularly appeared on CNBC Africa.

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    He was also at Afren Plc, where he acquired robust experience that further strengthened his deal execution capabilities. He was part of the teams that expanded the company’s asset base through large-scale acquisitions, mitigated material contingent liabilities, and optimised fiscal outcomes across joint venture assets.

    Earlier, at Xodus Group Africa, he delivered petroleum economic assessments for significant upstream developments, including advisory work on Africa Finance Corporation–backed transactions spanning acquisitions and debt funding across Africa.

    Uduak is a member of the International Association for Energy Economics (IAEE) and completed the Energy Innovation and Emerging Technologies programme at Stanford University’s Centre for Professional Development. Most recently, he completed the Accelerated Development Programme at London Business School, strengthening his readiness for more strategic leadership responsibilities.

    He holds an MBA in Finance from Imperial College Business School, London, and a B. Sc in Economics from the University of Uyo, where he was the Best Graduating Student in his department.

    Beyond his operational responsibilities, Uduak has contributed to industry discourse on energy finance and investment structuring across Africa. He featured regularly on CNBC Africa and was a part of the only local research team nominated for the Best Analysts’ Award at the African Investor Awards in 2010. He has spoken at leading forums, including African Energy Week 2024 in Cape Town.

  • Petralon drills to boost daily crude output with 2,500 barrels

    Petralon drills to boost daily crude output with 2,500 barrels

    Petralon 54, an indigenous exploration and production firm assigned as sole operator of Dawes-Island Field in Rivers State, and a subsidiary of Petralon Energy, is set to boost daily crude output with 2,500 barrels.

    The firm began drilling of a second well in Dawes-Island Field this month after arrival of the OES Teamwork rig on Dawes Island location from another successful operation.

    “Drilling an oil well is an overwhelming task because of the logistics, and investments, but we are happy that our meticulous planning and efforts are met with good fortunes”, Ahonsi Unuigbe, founder and chief executive of Petralon Energy Limited, commented.

     “We are emboldened to continue our economic ambassadorial role of creating value for our stakeholders – shareholders, investors, our host communities, indigenous oil servicing companies and regulators. As an entrepreneurial indigenous oil exploration and production company, we are open to opportunities, and ready to advance the socio-economic good of the nation”, he added.  Nigeria has optimised production from its oil and gas assets through creation of an enabling environment for investors.

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    The government has been in the forefront of the ‘Project One Million Barrels per day’ initiative to raise output by one million through a collaboration between operators and regulators in addressing every bottleneck to production.

    Operators in oil and gas are to maximise the assets assigned to them towards the economic stability of Nigeria.

    Petralon 54, which was awarded Petroleum Prospecting License No. 259 (PPL 259) by the Federal Government of the Federal Republic of Nigeria in accordance with the Petroleum Industry Act, 2021, has maintained active engagements  with its communities since the award. The organization sees its host communities as partners and stakeholders in the mutual objective of successfully developing the field.

    Looking ahead, Petralon Energy aims to build on its success by further increasing field production and pursuing strategic and value-driven investments to unlock additional growth opportunities in the sector.

  • Petralon Energy inaugurates leadership program

    Petralon Energy inaugurates leadership program

    African exploration & production company Petralon Energy Limited has inaugurated its Future Leaders Program (FLP).

    The successful inauguration of the programme marked a significant milestone in the company’s commitment to nurturing emerging talent in Science, Technology, Engineering, and Mathematics (STEM).

    The FLP exemplifies Petralon’s unwavering dedication to nurturing local talent and contributing to the sustainable development of Nigeria’s energy sector, building upon years of impactful community initiatives.

    The recent launch of this innovative programme also coincided with Petralon’s 10th anniversary, highlighting the company’s dedication to fostering educational excellence and sustainable development in Africa’s energy sector.

    The programme initially focuses on Engineering and Geology and offers comprehensive financial support to selected students through to graduation, coupled with valuable internship opportunities that provide hands-on, industry-relevant experience.

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    In a competitive selection process, promising students were chosen from six of Nigeria’s top universities, renowned for their exceptional STEM programs, including the University of Port Harcourt, Federal University of Petroleum Resources, Effurun, University of Benin, University of Uyo, University of Ibadan, and Obafemi Awolowo University, Ile-Ife.

    Chief Finance Officer (CFO) of Petralon, Adeola Akinrinmade, highlighted the programme’s significance: “The Future Leaders Program embodies Petralon’s unwavering commitment to talent development and sustainable growth.

    “By investing in education and providing practical experience, we’re cultivating the next generation of visionaries who will revolutionise Nigeria’s energy landscape.”

    The company’s Government Relations and CSR Manager, Dr. Kenneth Uzor, added: “This initiative is not just about providing financial support; it’s about creating opportunities for young minds to excel and make a significant impact in their fields.

    “We are proud to partner with these renowned universities and look forward to seeing the incredible achievements of our future leaders.”

    The inauguration ceremony was a resounding success, bringing together key stakeholders, educators, and industry leaders to celebrate this significant milestone.

    The enthusiastic participation and support from all attendees underscored the programme’s potential to drive meaningful change and innovation within the energy sector.

    Set up to acquire, develop, finance, and operate oil and gas assets, Petralon Energy Limited holds 6.06 per cent interest in Prime Oil & Gas Coöperatief U.A. (“Prime”) and 100 per cent interest in PPL 259 (the Dawes Island Field), which it operates in Nigeria.