- Wale Tinubu reveals Oando’s plan to leverage AI in drilling campaigns, targeting over 1 billion barrels of oil reserves
- Indigenous energy companies like Oando are positioned to unlock Nigeria’s energy potential through advanced technology and strategic partnerships
Wale Tinubu, Group CEO of Oando, has disclosed plans to adopt artificial intelligence (AI) in the company’s upcoming drilling campaigns to explore its over 1 billion barrels of oil reserves.
Speaking at the recent World Economic Forum (WEF) in Davos, Switzerland, Tinubu explained how AI will enhance decision-making and reduce costs in oil exploration.
“In drilling operations, decisions with significant cost implications are crucial. AI will help us analyze extensive data, including seismic technology and decades of drilling experience, to identify the most optimal solutions,” Tinubu stated.
Themed “Collaboration for the Intelligent Age,” the 2025 WEF brought together global leaders, top executives, and stakeholders to discuss geopolitical shocks, economic growth, and energy transitions.
Tinubu highlighted the growing role of indigenous energy companies in Nigeria following the divestment of onshore assets by International Oil Companies (IOCs).
He noted that by combining local expertise, advanced technology, and sufficient capital, these companies can unlock the untapped potential of Nigeria’s energy sector.
Oando, one of the first indigenous companies to acquire IOC assets, has demonstrated the importance of partnerships and strategic financing in maximizing the value of material reserves and accelerating extraction rates.
“As a company, we have over a billion barrels of reserves, 300,000 barrels per day of oil processing capacity, and more than 2 billion cubic feet per day of gas capacity,” Tinubu said. “The net present value of our oil reserves exceeds $10 billion.”
Tinubu also stressed the importance of government and regulatory support in unlocking the full potential of the oil and gas industry. He urged increased exports to address Nigeria’s economic challenges, improve trade balance, and strengthen the Naira.
“The oil and gas industry offers the fastest path to achieving these goals, given our substantial reserves and existing infrastructure,” he added.
With its ambitious plans and commitment to innovation, Oando is poised to play a key role in driving Nigeria’s energy sector forward.
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