Oando Plc appoints new director, another resigns

 Nigerian indigenous oil firm, Oando Plc, has appointed Dr. Ainojie Alex Irune as an Executive Director of the company.

Dr. Irune is the current Chief Operating Officer, Oando Energy Resources, OER, the upstream subsidiary of Oando Plc.

His appointment takes effect from August 9.

He joined the company in 2011 and OER’s management team in 2018.

Over the last year as COO, the company said he has specifically improved its consolidated existing assets and operations, improved partner relations, a 21% reduction in company debt profile, a 99% reduction in reserve base lending, increased daily oil production by 10% to 16, 967, and 2P reserves position by 2% as well as secured over $1.5 billion in international financing, among other achievements.

Prior to his time at Oando Plc in 2011, Dr. Irune worked in the United Kingdom as an In-Vehicle System Researcher and Designer Honda, Nissan and Jaguar Land Rover, and the University of Nottingham.

He graduated from the University of Nottingham with a B.Sc. in Computer Science in 2002 and attended his Ph.D. in Computer Science from the same university in 2009.

Meanwhile, Mr. Mobolaji Osunsanya, a non-executive director of the company has resigned with effect from August 9, 2019.

Until his resignation, he was a member of the audit committee, Strategic and Finance Committee and the Risk Environmental, Health, Safety, Security and Quality Committee of the company.

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