Maximising Africa's Natural Resources in the Global Energy Transition

Dr. Ainojie ‘Alex’ Irune

Chief Operating Officer Oando Energy Resources

A proponent of transformational leadership, Dr. Ainojie ‘Alex’ Irune has over 15 years’ experience garnered in both the oil and gas and automotive industries. He joined Oando PLC in 2011 and is currently an Executive Director on the Board as well as the Chief Operating Officer, Oando Energy  Resources(OER);  Africa’s  leading  exploration  and  production  company  and  the Upstream subsidiary of Oando PLC.

He leads OER with a focus on technical and commercial innovation with the goal of maintaining the long-term sustainable success of the business. As COO, he has operational oversight of 16 onshore and offshore assets across Nigeria and Sao Tome & Principe. Since taking on the role in 2018,  he  has  successfully  redefined  OER’s  business  model,  instituting  and  leading  Joint Venture  Improvement  Initiatives deploying solutions  to  mitigate  production  inefficiencies, significantly reduce costs while increasing production. Actions that culminated in a 17% increase in incremental production and over $43 million in cost savings for the JVs. In addition, he secured over $1.5 billion in international financing for incremental production and in excess of $500m in working capital financing. He has been instrumental in workforce-based initiatives to promote a more diverse and inclusive environment as well as positively shifting internal culture.

Prior  to  his  current  role  Dr.  Irune  occupied  senior  management  positions  across  the  Oando Group  where  he  led  a  range  of  transformational  change  programs;  notable  amongst  these, spearheading strategic initiatives aimed at restructuring the business and reducing the Group’s debt obligations, including partial business divestments to Vitol and Helios Investment Partners that  generated  inflows  of  over  US$330  million  as  well  as  implementation  of  the  global communications strategy for Oando’s$1.5bn  acquisition  of  ConocoPhillips  Nigeria  upstream assets.

Dr. Irune began his career as a research consultant in the United Kingdom, driving innovation and studies focused on human computer interaction with automobile companies such as Jaguar Land  Rover,  Nissan  and Honda.  He  earned  a  Bachelor  of  Science  degree  and  a  PHD  in computer science from the University of Nottingham.

He is also a member of the Institute of Directors and an advocate for a more just and equitable society with strong focus on youth development and empowerment.

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