What does Petralon do?
Petralon Energy is an African exploration and production company, established to acquire, develop, finance and operate assets in the African oil and gas sector. The Company targets farm-in opportunities to assets held by indigenous companies, acquisition of none core assets being divested by International Oil Companies (IOCs), partnership opportunities on assets held and managed by the government and government licensing and bid rounds on oil blocks and marginal fields.
What is Petralon's mission?
To leverage our experience, expertise and world class delivery capability in the oil and gas industry to rapidly grow true indigenous ownership within the upstream sector while redefining the relationship between Oil Company and community
Who is in Petralon’s management team?
Petralon’s management team is made up of:
- Ahonsi Unuigbe (Founder and Chief Executive)
- Adeola Akinrinmade (Chief Financial Officer)
- Uduakobong Equere (Head, Corporate Development)
- Gboyega Aiyemomi (Community and Government Relations Manager)
You can find more information on our management team here
Who is Petralon's Independent Registered Public Accounting Firm?
Our independent registered public accounting firm is PriceWaterhouseCooper (PWC).
How do I contact Investor Relations?
Please send an email to email@example.com
What will drive Petralon's growth?
Petralon adopted a three-phased growth strategy. The objective of the first phase was to launch itself into industry consciousness and build the required relationships and track record that would serve as the foundation for future activity. The target for the phase was to farm into a marginal field and deploy the investment required to commence production.
In the second phase, the Company’s growth strategy is to leverage its technical capability, established financing and potential investor relationships, positive built-up reputation, strong industry knowledge, preferential access and intelligence on potential deals to create tangible value for all stakeholders. This is Petralon’s active stage, and the target is to materially increase reserves and production through direct bids, acquisition of proven IOC assets and vital partnerships.
In the third phase, the Company’s growth strategy is focused on consolidation. The Company will focus on strategic expansion of its portfolio and take on measured exploration risk with huge upside potential, thus actively diversifying its reserves replacement strategy to include organic growth. It also will seek to directly pursue investments / asset opportunities in other African countries.
How much capital has been raised so far?
Petralon has raised up to $50 million in funding, over $25 million was utilised in funding capital expenditure by Petralon 54 Limited on the Dawes Island Marginal Field.
The company has also received financial commitments from reputable financial institutions, international traders and strategic partners for new venture projects, amounting to over $1 billion.
What role does CSR play in Petralon?
We are committed to social responsibility and ensuring that the business of oil and gas is done in a responsible manner with emphasis on safety and managing the environment. We are also committed to ensuring that we minimise the effect our activities on the host communities and society, demonstrating a clear understanding of the impact of oil and gas and balancing our business with sustainable social investment while driving growth and value for all stakeholders.
We understand that the members of these communities are best placed to determine the areas within the community where the additional resources should be deployed and so are committed to ensuring that community representatives determine how funds are disseminated and utilized for their communities, thereby putting them in the driving seat.