Oando Energy Resources Managing Director and Oando Plc Executive Director Ainojie Irune has been appointed to the governing board of the World Energy Council’s Nigerian Member Committee as the country renews its engagement with the global energy organization.
The Nigerian committee was inaugurated in Abuja, with Waltersmith Petroman Oil co-founder Abdulrazaq Isa named chairman.
Other members include Bala Wunti, who serves as chief executive, as well as Wumi Iledare, Mustapha Abdullahi, Aisha Katagum, Emmanuel Okon, Victor Ekpenyong and Imamuddeen Talba.
The committee brings together representatives from industry, academia, policy and private enterprise and is expected to serve as Nigeria’s platform within the World Energy Council’s international network.
Irune’s appointment comes at a time of significant change in Nigeria’s upstream petroleum industry, where indigenous companies are taking greater ownership and operational responsibility for assets previously held by international oil companies.
At Oando, Irune has held roles spanning corporate strategy, communications and upstream operations before rising to lead the company’s energy resources business.
He was closely involved in the company’s major upstream expansion transactions.
In 2014, Oando completed the $1.5 billion acquisition of ConocoPhillips’ Nigerian upstream business, significantly increasing its production and reserve base.
A decade later, Oando acquired Nigerian Agip Oil Company from Eni in a $783 million transaction that increased its participating interests in OMLs 60 to 63 from 20 per cent to 40 per cent.
Irune, as Managing Director of Oando Energy Resources, played a leading role in completing the 2024 acquisition.
His appointment to the World Energy Council committee also provides another platform for discussions around gas development, energy access, industrialization and the role of African companies in the continent’s energy transition.
Irune has argued in previous public engagements that Africa’s transition strategy must reflect its need for energy access and industrial growth rather than simply replicate pathways designed for mature economies.
He has also advocated greater local participation in the value created from Africa’s natural resources.
The World Energy Council operates across more than 100 countries and focuses on energy security, affordability, sustainability and the long-term development of global energy systems.
Irune’s tenure on the Nigerian Member Committee is expected to run for two years.
