New Oandonews · 2010. 10. 20. · Oandonews A Quarterly In-house Journal of Oando Group Jan - Mar, 2009. Quarter 1 OandoNews Content Oando Wins Thisday Award - Pg. 3 Oando Acquires

OandoOandoOandoOandoOandonewsA Q u a r t e r l y I n - h o u s e J o u r n a l o f O a n d o G r o u p

Jan - Mar, 2009. Quarter 1

OandoNews

Content

Oando Wins Thisday Award- Pg. 3

Oando Acquires 15% Stake inAgips Deepwater Block - Pg. 3

Oando Donates to Ama Community- Pg. 4

Akute Power Holds EIA - Pg. 5

Photo News -Pg. 6 - 7

OEPL Boosts Upstream Assets- Pg. 8

Oando Oil Vessel Rescues Soma-lian Refugees - Pg. 9

Corporate Governance / CSR- Pg. 10

Social Diary - Pg. 11

Oando takes delivery of its flagship Oil rigFleet of state-of-the-art rigs now three

Oando Energy Services, asubsidiary of Oando PLC,Nigeria’s leading integratedenergy solutions provider, hastaken delivery of an additionalrig named the “Constitution”. Thisbrings to three the number of rigsin the company’s fleet,underpinning its commitment toproviding world-class oil fieldservices in the Gulf of Guinea.

The Searex-6, is currently beingrefurbished while the other two,Searex 12 and the Constitutionwill be commissioned for aseries of drilling campaigns verysoon.

Commenting on the acquisition,Mr. Uche Dimiri, Chief ExecutiveOfficer, Oando Energy Services,said “The Constitution is currentlythe first of its kind in Nigeria as ithas the capacity to drill deeperand handle higher temperaturesand pressures than conventionalswamp rigs. Previously difficult toreach reservoirs can now beexplored for their hydrocarboncontent, which will increaseNigeria’s production andreserves.”

According to the Group ChiefExecutive of Oando, Mr. Wale

Tinubu, “this is in line with our 5year development planstructured to deliver at least tworigs a year. We have alreadyinvested over $250 million in theacquisition of five swamp rigs inthe Niger Delta . This will further

S/N Rig Name Rig Type Pressure Output Horse Power(hp) Drilling Depth Application

1. Searex 6 Swamp barge 10,000 psi 2,000 20,000ft + Normal drilling2. Searex 12 Swamp barge 10,000 psi 2,000 20,000ft + Normal drilling3. Constitution Swamp barge 15,000 psi 3,000 25,000ft + High pressure,

high temperature(HPHT) wells

The three rigs are for swamp operations and have the following specifications:

boost shareholder value andinvestor’s confidence in thecompany. The acquisition is atestimony of Oando’s audaciousupstream aspirations to becomea foremost player in the rigbusiness in Nigeria”.

OandoNews 2

EDITORIAL TEAM

EditorEditorEditorEditorEditorMeka Olowola

Assistant EditorsAssistant EditorsAssistant EditorsAssistant EditorsAssistant EditorsAbiodun AtunwaSunmbo OlajubuOdion Aleobua

ContributorsContributorsContributorsContributorsContributorsFemi Adeyeye

Chike AniEfeoghene Okonji

Graphics/LayoutRotimi Jenfa

Editorial AdviserEditorial AdviserEditorial AdviserEditorial AdviserEditorial AdviserTokunboh Durosaro

Oando news is a quarterly publication by

the Corporate Communications Department

of Oando PLC. All correspondence to The

Editor, Oando PLC, (9th Floor)

2, Ajose Adeogun Street,

Victoria Island, Lagos,Nigeria.

Website:www.oandoplc.com

Email: [email protected]

All rights reserved. Materials in this

issue may be re-printed with due credit

given to Oando News

Meka

EDITOR’s Note

My Oando Experience so Far

I was anxiously checkingmy e-mails for a job offerletter in response to an

interview I had written twoweeks earlier. To my dismay,the e-mail wasn’t there so Idecided to browse a jobsearch si te where I cameacross the Oando GraduateTrainee Programme advert.Halfheartedly, I decided toapply ; “a f ter a l l , popularwisdom says not to put alleggs in one basket , ” Ireasoned. I was ecstatic whenI received the invitation towrite the Oando aptitude teston the same day.

From that day forward, i tseemed my fate was sealed

and the course of my destinyalready charted. I wrote thetest, attended a subsequentinterview and an assessmentday. The congratulatory mailI received at the end of it allcame as a big surprise. Iactually had to read the offerof employment several timesto ensure that it was all not adream.

I will never forget the dateMonday, February 2nd 2009.That was the of f ic ia lresumpt ion day for us 19Oando Graduate Trainees(GTs). We were welcomed byAkin Ayoola and NikeDiyaolu. I was particularlyoverwhelmed by the warmreception and the ambitiouscareer plans we were toldOando has for us.

The f i rs t two weeks wasscheduled for our induction.In the f irst week, we weretaken round to offices of thevarious entities that constitutethe Oando Group, GroupOff ice depar tments andOcean & Oi l Hold ings(major i ty shareholder in

Oando Plc) . The secondweek featured personaldevelopment sess ionsranging from Presentation,Communication & Etiquette aswel l as Leadersh ip &Entrepreneurship. The grandfinale of the induction waswhen we were eachintroduced to our assigned‘mentors’.

I found the 2-week inductionto be very educat ive andenlightening as it was criticalto my ‘b lending- in ’ andreorientation, which helpedprepare me for a career inOando. Pr ior to myemployment in Oando, I hadalways perceived thecompany as a ‘petrol seller’(borrowing f rom LaraBanjoko ’s words) . Theinduct ion rounded myperception of the companyand c lear ly put in toperspect ive the fact thatOando’s bus inessestranscend the entire energyvalue chain.

Four months have quicklypassed out of the one year

Your newsletter is hereagain. Sir WinstonChurchill once wrote,

“Pessimists see the difficulty inevery opportunity, while optimistssee the opportunity in everydifficulty”. The later defines ourattitude at Oando for despite thedifficulty the world economy isfacing, we are maximizing everyopportunity even before theybecome apparent to transformour business.

We pride ourselves aspacesetters - always seeking

innovative ideas to resolve thechallenges of Nigeria’s oil andgas industry. This dominates ourcover for this edition with theacquisition of our flagship oil rig-the OES integrity (formerlyknown as constitution) to boostour oil drilling services offering.

Our trailblazing continues withthe acquisition of 15% stake inAgip’s oil and gas block. Thismakes us the first indigenouscompany with interests inproducing deepwater oil assets.The story behind this audacious

step is also featured in thisedition.

Also read about the fiction-likebut true tale of the dramaticrescue of 162 Somali refugeesby our oil vessel on thetumultuous seawaters nearMalta.

We appreciate all ourcontributors for this edition.

Happy reading.

Efeoghene Okonji, Graduate Trainee

Graduate Trainee Programme.I fee l l ike a reper to i re ofknowledge already, despitehaving six months left in theprogramme. I’m really lookingforward to its conclusion so Ican and ut i l i se a l l theimparted knowledge andexpertise accordingly.

3 OandoNews

Oando PLC, Nigeria’sleading integratedenergy provider, was

on Wednesday, January 14th,2009, announced as This Day2008 oil and gas company of theyear at an awards ceremonyrecently held in Abuja.

The award recognised thegrowing status of Oando (anindigenous company) as anintegrated energy provider,which is “dominant in land andswamp oil drilling business,petroleum product marketingand natural gas distribution”.

Oando wins Thisday’s “Oil and Gas Company

of the Year”Oando was nominated in threedifferent categories namely:• Oil and Gas Company of

the Year• Equity of the Year• Company of the Year

The award which was organisedby This Day Newspapers is inrecognition of the excellentperformance of companies inthe financial, oil and gas,aviation, hospitality, ICT, andtelecommunications industries.Government bodies andoutstanding individuals ormanagers are also recognised atthe awards.

Oando PLC hasannounced thepayment of USD$197

million to Agip for a 15% stake intwo oil blocks – OML-125 andOML-134, making Oando the firstindigenous participant companyin a producing deep offshore oilblock.

OML-125 currently producesapproximately 20,000 barrelsper day (bpd) of oil from the Abofield combined with near termproduction growth and highpotential exploration acreage tocomplement Oando’s existing

Oando completes acquisition for 15% stake in Agip’s

Deepwater Blocksupstream portfolio. Abo is alsoexpected to produce close to40,000 bpd later this year as aresult of a recent drillingcampaign. OML-134 althoughstill in exploration phase, hasalready recorded the Oberandiscovery, where an appraisalwell is currently being drilled.

This is coming on the heels ofOando’s acquisition of 30%stake in Akepo oilfield, which isa further attestation of its resolveto acquire active near termproduction assets in its rapidlygrowing oil and gas portfolio.

The payment which takes intoconsideration all interestadjustments was funded 100%from Oando’s resources and isexpected to be partially re-financed in the near term by a45% debt injection from aconsortium of internationalfinanciers made up of StandardChartered Bank, Standard Bankand BNP Paribas.

Wale Tinubu, Group ChiefExecutive, Oando PLC said,

“This is a significant milestonefor Oando as we officially join theleague of companies withinterests in deep offshoreproducing assets. Thisacquisition will contribute to ourstrategic target of 100,000bpdby 2012, as we continue toexplore opportunities to build arobust portfolio of oil and gasassets”

Also commenting, BabatundeOgunnaike, Chief ExecutiveOfficer, OEPL said, “We areexcited about the prospects ofpartnering with Agip. We are

now positioned to receive cashflow from Abo production, whichwe strategically hedged againstthe vagaries of internationalcrude oil prices.”

Wale Tinubu further opined that“the transaction is yet anothertestament to the coming of ageof Indigenous Corporates in thechallenging arena of theUpstream Oil Industry.”

Financial Advice for thetransaction was provided byStandard Chartered Bank.

Wale Tinubu (R), Group Cheif Executive, Oando PLC, receiving the Thisday award for the Oil &

Gas Company of the Year

Babatunde Ogunnaike, CEO, Oando

Exploration & Production

OandoNews 4

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In line with Oando’s vision topromote communitydevelopment in Nigeria,

Oando Marketing Limited(OML), the leading oil marketingretailer in Nigeria with increasingoperations across West Africa,has donated the sum ofN1million in support of the Townhall project in Umuezeani Amacommunity in Enugu State. Thispresentation was done at theUmuezeani Community MarketSquare Ama on Saturday,February 7th, 2009.

Oando Marketing is the majorsupplier of petroleum products toNigerian Breweries PLC, Amavia its Vendor ManagementInventory (VMI) scheme, aninitiative of the Commercialdepartment of OML. VMI is highlevel service delivery thatinvolves provision of energyneeds to Industrial customers,thereby freeing them to focus ontheir core business operation.Oando Marketing is the leadingplayer in this line of business withexpertise acquired over theyears resulting in hermanagement of key

Oando Marketing Donates N1m to

Ama Community, Enugumultinational accounts in Nigeriaof which Nigeria Breweries PLCis one.

The decision by OML to supportthe town hall project started witha stakeholders meeting whichwas held with representatives ofthe community to identify theirmajor need and the yearning fora community town hall wasexpressed. OML’s decision tosupport this developmentalproject was thereafter formallycommunicated to the communityand this gesture was greatlycommended with a date for thepresentation ceremony agreed.

Commenting on this gesture, Mr.Ishaq Yahaya, OandoMarketing’s Chief Sales Officer,Commercial said “This is one ofthe many communitydevelopment projects we haveimplemented across various hostcommunities in Nigeria. OandoMarketing has enjoyedtremendous support from Amacommunity in the course of ourbusiness relationship withNigeria Breweries PLC whichexplains why we are supporting

this commendable initiative. It isour believe that this gesture willfurther enhance the goodworking relationship with Amapeople”.

Also commenting, Mrs. LaraBanjoko, Chief Operating Officer,Oando Marketing said, “We areespecially delighted to be partof this laudable initiative of theAma people. Communityrelations initiatives such as thisis a demonstration of ourcommitment to supportingcommunity developmentprojects in locations where we

have business interest. This forOando is to ensure that weimpact positively on the hostcommunities while we leave ourmark as a responsible businessorganization. This gesture is inappreciation of the cordialrelationship we have enjoyedwith the community.”

Oando Marketing is the leadingoil marketing retailer with over500 retail outlets and numerouscommercial customers cuttingacross the differentgeographical zones in Nigeria;with operations in Ghana, Togo,Liberia and Republic of Benin.

Apapa Submarine Pipeline Mooring (SPM)Environmental Impact Assessment (EIA)

Bopo Okesanya, Programmes Manager, Group Strategy & Planning presenting at the forum

(L-R) Chairman, Development Committee, Ama Community, The Igwe of Ama Community, Femi

Adeyeye, Manager, Marketing Communications, Ifeyinwa Okechukwu, Commercial Branch

Manager, Enugu and Edward Olaka, Community Liason Officer

In fulfillment of the Federal Ministryof Environmental (FMEnv.) and theDepartment of Petroleum

Resources (DPR) requirementsrequirement for any project thatinvolves the laying of crude oil orpetroleum products pipeline, OandoProject Office recently organisedEnvironmental Impact Assessment(EIA) on its latest project – theProposed Single Point Mooring(SPM) in the open sea. The eventwas held on Thursday 19th February,2009 at Eko Hotel and Suites.

The project involves the building ofa new 16” multi-product Pipeline

system starting from a proposednew Single Point Mooring (SPM) inthe open sea. This facility is locatedclose to the Lagos Harbourentrance, and is routed to the existingMarketers’ Jetties at Apapa, Lagos.The purpose of the new PetroleumProducts Delivery System is todeliver petroleum products, PMS(Premium Motor Spirit), DPK (DualPurpose Kerosene), and AGO(Automotive Gas Oil), from the newSPM, through the new 16” multi-products pipeline to the Marketers’Jetties at Apapa, Lagos, helping todecongest the ever busy jettiesthereby reducing demurrage costs.

9 OandoNews5 OandoNews

Oando Gas & Powersubsidiary, Akute PowerLimited, participated in

the Panel Review Meeting on theEnvironmental ImpactAssessment (EIA) of AkutePower’s 12 MW Engine PowerPlant and 13 km pipeline projectof the Lagos State WaterCorporation. The hearing tookplace on February 13, 2009 atthe Airport Hotel Ikeja.

The Panel Review Meeting wasarranged by the Federal Ministryof Environment (FMOE) andchaired by world renownedSocio-Economist andEnvironmentalist, Professor J.C.Nwafor. Other notable membersof the panel included Dr. N.G.Ekeh, representing the Ministerof Environment, SojunuOlasukanmi, representing theCommissioner, Lagos StateMinistry of Environment, Prof. A.Salihi (Mechanical Engineer), Dr.I. Udotong (Waste Mgt. Expert),Prof. R. Kolo (Ecologist), Prof.Onifade Rasheed (Air QualityExpert) and Chairmen of Agege,Ifako-Ijaiye and Ifo LocalGovernments. The open-to-

Akute Power holds EIA- Lagos Water Corporation Power Project on track for completion

public event was also wellattended by stakeholders andrepresentatives of the hostcommunities.

At the conclusion of the exercise,Professor Nwafor commentedthat “EIA is a statutoryrequirement for any project ordevelopment that may likelyhave an impact on theenvironment. The objective ofthe EIA is not to punish or delayprojects, but to ensure that suchprojects do not eventually endup harming the people theprojects are to benefit and theenvironment as a whole.”

Mr. Bolaji Osunsanya, ManagingDirector, Oando Gas & Power,commenting on the EIA reviewsaid “Oando is an organizationcommitted to the preservationand protection of theenvironment. The EIA is awelcome exercise that we viewas an opportunity for us toensure that the Akute PowerPlant project has no harmfuleffects on the environment.”

The Akute Power Project is aPublic Private Partnership (PPP)

initiative with the Lagos WaterCorporation (LWC) pursuant ofthe State Government’scommitment of ensuring steadysupply of water to itsinhabitants. Oando Gas &Power has already procured thepower plant equipment capableof generating over 12megawatts of uninterruptedelectricity to power LWCfacilities at the Iju, Adiyan andAkute water works.

The power plant equipment isdesigned to run efficiently onnatural gas, which is a cleanand environment-friendlyalternative to fuels. The projectis also cost effective as it has

been projected that the StateGovernment will saveapproximately N1.56 billion in the10-year life-cycle of theagreement.

Environmental ImpactAssessment is a writtenstatement drawing conclusionson how a course of action is likelyto affect the environment. EIA is astatutory requirement backed byFederal Government of NigeriaDecree 86 of 1992 which statesthat any public authority orprivate organization must carryout an EIA on any activity thatmay likely or to a significantextent affect the environment orhave environmental effects onthose activities.

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Oando Gas & Power Visits Akwa Ibom Governor

John Alamu, Head Engineering, Oando Gas & Power presenting to the panel at the reveiw

meeting on the EIA of Akute Power Plant

(L-R) Bolaji Osunsanya, CEO, Oando Gas & Power, Wale Tinubu, GCE, Oando PLC and His

Excellency, Barr. Godswill Akpabio, Executive Governor, Akwa Ibom State

As Oando Gas and Powerexpands its local gasdistribution grid to the

southeast, the Chief ExecutiveOfficer of the company, Mr. BolajiOsunsanya and the Group ChiefExecutive, Mr. Wale Tinubu paida courtesy call to the ExecutiveGovernor of Akwa Ibom state, HisExcellency Barr GodswillAkpabio to highlight project’sbenefits to the state.

East Horizon Gas Company,Oando Gas Power special;purpose vehicle for the project isconstructing a128km of pipelineinfrastructure from Akwa Ibom toCross River states, supplyingnatural gas to industries in theregion. The impressed Governorfacilitated the quick approval ofAkwa Ibom Right of Way (ROW)representing approximately80km and 62.5 per cent of the ofthe project.

OandoNews

PHOTO

Oando Holds Debut Sports Day at Astro Turf, Ikoyi

Laide Babalola, Oando Marketing, Nike Olaniyan, Compliance Office, Vera Ugbechie Services

and Misan Jekhine, Shared Services supporting their teams

Kalu Obioha, Oando Energy Services (Drillerz) and Chris Onuoha, Group Head EHSSQ (TRIPP

Squad) during the scrabble competition.Wale Tinubu, GCE, Oando PLC presenting the Trophy to the Drillerz (Oando Exploration & pro-

duction) for winning the football competition

Oando Marketing Team (Oilers) in a group photograph(L-R) Reginald Agorua receiving the Volleyball trophy on behalf of Oando Marketing (Oilers) from

Omamofe Boyo Esq

Members of the Pipeliners (Oando Gas & Power) supporting their team members on the pitchMI entertaining Oando staff members and guests at the event

Saturday, April 25 2009 willleave behind a legacy inOando’s history. This ushered

in the maiden edition of the OandoSports Day, which took place at theAstro Turf, Ikoyi, Lagos. The objectiveof the occasion was to create a firstclass corporate event that will beheld in high regard, using sports asthe catalyst for team building,motivation and bonding.

Six teams clashed in the one-dayevent featuring various sportingactivities like volleyball, football, tug-of-war, Scrabble and Chess. It was

a day of fun, entertainment, bondingand interaction.

The team names were “Oilers” –OML, “Traders” - S&T, “Pipeliners” –OG&P, “Explorers” – OEPL, “Drillerz”– OES and “TRIPP Squad” – GroupOffice/Shared Services. Brillianttactics resulted in the “Oilers”dominating the trophies list with goldin three events namely, Chess, Tug-of-War and Volleyball. The medal forScrabble was clinched by the“Pipeliners”, while the Football eventwas conquered after a stunningperformance by the “Explorers”.

OandoNews

ONEWS

Ezieke Chukuma, Oando Gas & Power (Pipeliners), recieving a Trophy from Chris Onuoha for

winning the Scrabble competitionCross section of Oando staff members and guest in the spectator stand

Oilers (blue shirt) and Explorers (grey shirt) during their football match

Mary Sani, Corporate Communications, Yinka Mohammed, Procurement, Phyllis Eteudor, Compli-

ance Office, Mutiat Oba, group finance and Misan Jekhine, Shared Services all of the TRIPP

Squad getting ready for the Tug - of - War

Explorers team members in group photograph with CEO, OEPL, Mr Babatunde Ogunnaike

Traders during their Volley ball competition

Traders (Orange shirt) team member about to take a free kick against the Pipeliners (Yellow Shirt)

during their football match

Israel Ahuaza, Wale Ishola and Segun Oyekan all of the Drillerz

OandoNews 8

of the relevant Authorities, andSogenal Limited, the Operator.

Tunde Ogunnaike, ChiefExecutive Officer, OEPL,commented, “We are excitedabout this acquisition as it is inline with our plans to boost ourportfolio with near term oil andgas assets. As the technical andmanagement partners, we willbe conducting immediately,additional technical studies tofacilitate the drilling of more wells

to fast track the development ofthis block.”

Tony Henshaw, President andChief Executive Officer of ExileResources, commented “I amvery pleased that Oando hasjoined Sogenal and Exile in theAkepo Project. In the currentuncertain financial climate,Oando’s financial strength andcapability, and experience in theNigerian sector will enable theProject to move forward to FirstOil Production in the earliest

Oando Boosts Upstream Assets:…acquires Exile Resources’ interest in the Akepo Field

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timeframe, and Exile looksforward to working with Oandoand Sogenal in the future onother projects in Nigeria.”

The Akepo Field is locatedwithin OML 90 situated offshorein the South Eastern part ofNigeria. Originally a JointVenture agreement betweenNNPC and Chevron, theMarginal field was awarded toSonegal during the 2003Marginal Oil Fields AllocationRounds in 2003 by theDepartment of PetroleumResources.

About Oando Exploration andProduction LimitedOEPL is a subsidiary of OandoPLC, Nigerian foremostintegrated energy solutionsprovider. OEPL is currently theoperator of two oil blocks – OPL278 and OPL 236. The companyis also a Local Content Vehicle(LCV) partner with AGIP on OPL282 and has a 45% non-operating participatory interestin a marginal field, Obodeti-Obodugwa (former OML 56).These fields are in differentstages of development and willsignificantly increase Nigeria’soil and gas reserves.

Oando Exploration andProduction Limited(OEPL), the upstream

arm of Oando PLC, Nigeria’sleading integrated energysolutions provider, hasannounced the acquisition of75% interest in Exiles Resources’40% working interest in theAkepo Field through the signingof a Financial and TechnicalServices Agreement on 23October, 2008.

Under the terms of theAgreement that is structured intwo stages, Oando will re-imburse Exile’s past expenseson the Akepo Field, and financethe development of the project,in return for taking 75% of Exile’scurrent economic interest in theproject. This will see Oando own30% Equity stake in the entireproject, subject to the approval

Oando at the Nigerian Oil & Gas Conference

Raphael Awoseyin, Chief Engineering & Technical Officer, Oando PLC presenting at the event

The 2009 Nigeria Oil and Gas

Conference took place at the

International Conference Centre,

Abuja from the 23- 26 February, 2009.

The three-day event organized by CWC

in conjunction with NNPC, attracted

distinguished personalities from various

government agencies and parastatals,

CEOs of major local and international

Oil and Gas companies, and investors

from Sub-Saharan Africa, Europe, North

America and Asia.

Dr. Raphael Awoseyin, the Chief

Engineering and Technology Officer,

represented the Group Chief

Executive, Mr. Wale Tinubu as a

speaker during the Oil and Gas

session on day two of the strategic

conference. He delivered a rousing

presentation with the theme:

“Developing Gas and Power

Infrastructure in Nigeria – Franchises

and Associated Gas” to over 500

delegates who represented different

business sectors.

Oando PLC has consistently over the

years support this event at

sponsorship level with high level

management participation.

9 OandoNews

A sea oil tanker, OverseasPrimar, operated byOando Supply and

Trading, the oil supply andtrading arm of Oando PLC onMonday, January 12, 2009,rescued 162 Somalianimmigrants trapped in the middleof the ocean in the area 45 NMSE of Malta. The vessel wastransporting 33,000 metrictonnes of petrol from Israel toLagos at the time of the incident.

Overseas Primar arrived at thelocation to find a 10 meterwooden engine boat full ofpeople, with the engineoperating with difficulty andsinking. The vessel rescued the162 immigrants onboard thevessel using pilot ladder andnets. After numerous attempts

Oando Oil Vessel Rescues 162 Somalian Refugeesdue to the very rough sea at thesaid time, everyone on board theboat was successfullyevacuated.

The liberated immigrants, whoseages ranged from 12 to 40 years,included 133 Men, 28 women,and a child, who departedMogadishu, the Somaliancapital. The ship’s crewadministered first aid to injuredand took them ashore for prompttreatment.

“In adherence to our ‘SafetyFirst’ culture at Oando, we arealways prepared to go the extramile to ensure the safety of livesbefore business considerations.This strict Environment, Health,Safety and Quality (EHSQ)policy was yet again

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gOando Sponsors UN anti-corruption workshop

In line with its strict adherenceto the principles of ethicalbusiness practice in all its

businesses, Oando PLC hasshown commitment to theUnited Nations Global Contact(UNGC) initiative by joining othercorporate organisationssponsor the body’s regionalworkshop in Nigeria.

The workshop, which is the firstin Africa, had the theme,‘Fighting corruption through

collective action: practical

strategies for companies’,took place from March 16 - 19,2009 at the Sheraton Hotels andTowers, Lagos.

The Global Compact Office, NewYork, mandated the Global

Compact Local Network(Nigeria) to organise the GlobalCompact Regional Meeting forthe African region. This initiativeis also supported by the UN’sOffice on Drugs and Crime aswell as the World Bank Institute.

The Nigerian Network ischampioned by three differentbodies, comprising the NigerianEconomic Summit Group(NESG), which also serves asthe Network Secretariat, theNigeria Institute of InternationalAffairs (NIIA) and the AfricaLeadership Forum (ALF).

The United Nations’ GlobalContact Initiative intends to focuson how companies can utilisecollective action to opposecorruption in the context ofbusiness operations in Africa.

Commenting, Mrs. Deji Delano,Chief Compliance Officer &

Company Secretary, Oando PLCsaid, “We are very proud to bepart of a global initiative thatpromotes what Oando is verypassionate about - Conductingbusiness in the most ethical andtransparent manner. Indemonstration of thiscommitment to principledbusiness conduct, Oando hadearlier become a signatory ofthe World Economic Forum’s(WEF) ‘Partnering AgainstCorruption Initiative’ (PACI) in2008."

Commenting further, Mrs. Delanosaid, “We believe thatadhering to corporategovernance principles will havea positive impact on businessactivities in Nigeria and aroundthe world. We therefore urgeother corporate organisations tobe part of this laudable andtimely event.”

demonstrated here under verydifficult weather conditions, aswe had to execute the rescueoperation in the tumultuous sea

.We are glad no life was lost andthat we were able to assist inproviding first aid and access tofurther treatment”.

Oando vessel rescuing refugees

(L-R) Frank Nweke Jr, former Information Minister, Nigeria, Soren Peterson, UN Global Compact

and Deji Delano, Chief Compliance Officer & Company Secretary, Oando PLC

OandoNews 10

Oando with Adopted Schools

There is no doubt that fraud

and other unethical practices

continue to be major

challenges for businesses in

Nigeria. Of importance, however, is

that many of the instances of

unethical practices that are

successfully resolved can be

attributed to tip-offs from staff

members and trading partners.

Oando Plc is striving for high

standards of corporate governance

and business ethics. Employees,

customers and service providers

are vital in assisting Oando to

achieve these ideals. For this

purpose, Oando has decided to

subscribe to the KPMG Ethics Line.

This is a mechanism endorsed by

the management of Oando

whereby callers can report any

form of fraud, rendition of false

returns, forgery (use of fake

certificates, false declaration of

age), insider abuse, leakage of

confidential data, bribery &

corruption, stealing/theft of assets,

abuse of authority, sexual

harassment, concealment of any

malpractice, commission of

offence by Oando officers/staff,

breaches of Oando’s Code of

Business Conduct and Ethics as

well as other unethical practices to

the management of Oando through

the KPMG Ethics Line in a

confidential and anonymous

manner.

AWARE OF UNETHICAL PRACTICES IN OUR BUSINESS? - BLOW THE WHISTLE ANONYMOUSLY AND CONFIDENTIALLY

KPMG Ethics Line is independently

operated by KPMG Professional

Services, the Nigerian member firm

of KPMG International. It is an

independent conduit where callers

are guaranteed anonymity and

confidentiality. Callers are not

required to disclose their identities

when they contact the KPMG

Ethics Line. Furthermore, even if the

caller discloses his/her identityat

the tme of calling in, Oando

management cannot demand that

the identity of the caller be revealed.

The phone numbers for the KPMG

Ethics Line are, 0808-811-8888,

0808-822-8888, 0703-000-0026

and 0703-000-0027.

The e-mail address is

[email protected].

The numbers are accessible

between 8.00 am and 5.00 pm on

weekdays. Alternatively, you can

send reports to the email address

on a 24-hour basis. To contact

KPMG Ethics Line, please follow

the steps as set out below:

1 Dial any of the above

telephone numbers from any

telephone of your choice.

Please note that calls on the

same network are toll free.

2 You may remain anonymous.

Yes, you are NOT required to

disclose your identity when

you make the call. But,

please provide full details in

respect of the incident to the

call operator. Such details may

include:

- Who was involved

- What happened

- How it happened

- Where it happened

- When it happened

- Value (amount) involved

3 You will be given a reference

number. Keep this number

confidential as you will need

this number if you make a

follow-up call (call at a later

date to provide additional

information to the original

report) or feedback call (call at

a later date to request

feedback on the original call).

Please be assured that both Oando

and KPMG will not trace the calls

made by you. However, for those

who are still concerned that the call

may be traced to them, you are at

liberty to call the KPMG Ethics Line

from any telephone of your choice,

which you are satisfied, cannot be

linked to you. You can also hide

your caller identity on your

telephone if you opt to call from a

mobile telephone.

You may also email details

anonymously to the dedicated

email address (also operated by

the KPMG Ethics Line). Should you

wish to use this method, please

include as much detail as possible

including that the report is in

respect of Oando. These details

may be sent to the email address

indicated above.

For those who are concerned that

the email may be traced to them,

you are at liberty to create a special

email address from which to send

the report. Be assured that the

management of Oando will take

appropriate action on genuine

incidents reported by you through

the KPMG Ethics Line. After

reporting an incident, you are

encouraged to periodically contact

the KPMG Ethics Line for feedback

on the action taken by the

management of Oando on the

report. The KPMG Ethics Line will

require you to identify yourself

using the reference number that

you are given when you report the

incident.

Oando is appealing to you to utilise

the KPMG Ethics Line to report any

incidents of fraud or other unethical

practices. Do not be a silent

observer of practices that erode

the very values we wish to uphold.

Adewale Tinubu, GCE, Oando PLC

(R-L) Bunmi Wayne, Oando Gas & Power, Misan Jekhine, Shared Services, Oando PLC with a

parent of one of the receipents of the OG & P Scholarship during a performance reveiw meeting

with the parents of the children

Mr Ojo, Head Master (L), Metropolitan Primary School, Sari Iganmu with Misan Jekhine (R) pre-

senting a trophy to the white house captain for overall best performance on the sports day

11 OandoNews

Social Diary

JAT onboard the “OES INTEGRITY” Oando pays courtesy visit to Union Bank

(L) Dondo Ahire, COO Rigs, Oando Energy Services and Wale Tinubu in the drillers console

onboard the OES INTEGRITY

(L) Wale Tinubu, GCE, Oando PLC and Bartholomew Ubong, MD Union Bank

(R) Abdullahi Usman with wife Nabila during the wedding ceremony which took place in Katsina recentlyAbdullahi Usman, Aviation Manager during his

engagement ceremony

Bride’s maids and groom’s men in group photograph with newly weds, Odion (Corporate Communications) & Maryan Aleobua Odion and Maryan

Oando Staff Weddings