09 July 2017, Sweetcrude, Lagos — Managing Director, Niger Delta Exploration and Production (NDEP), Layi Fatona, has bowed out of office as the MD, and Chief Executive.
Before his retirement, he functioned in that capacity for 25 years. NDEP has been producing in the Ogbele oil field with an output of 6,000 barrels of oil per day since 2005.
NDEP operates the only privately owned crude oil refinery in Nigeria and has built and operated a gas processing plant for the past four years.
According to Ladi Jadesimi, Chairman of the Board of NDEP, in a statement, the company has appointed Oloruntoba Johnson Akinmoladun as the new Chief Operating Officer (COO) and MD Designate.
“This appointment will cover in the interim, a transitional period of one year, during which Toba Akinmoladun assumes the role as Substantive Managing Director and CEO of Niger Delta Exploration & Production Plc and its subsidiaries”.
Fatona will retain his position as MD/CEO of NDWestern Ltd, co-operator of the Oil Mining Lease (OML) 34.
NDEP holds 42% equity in NDWestern, leading a clutch of partners including Petrolin (40%), First E&P (10%) and Waltersmith Petroman (8%). NDEP’s sole asset, the OML 34, produces, on a gross basis, 15,000BOPD of crude and close to 300MMscf/d of natural gas. NDwestern holds a 45% equity of that asset.
“I see this appointment, as part of a major transformational journey for ensuring the future sustainable growth and development of the Group of companies”, Chairman Jadesinmi explains in the statement. “One that will see NDEP further, through its corporate expansion initiatives.
“As a truly Nigerian Independent Integrated Petroleum development company, progressing through a Pan African growth phase, while maintaining its strong and unique position in the top echelon of the new emerging Petroleum Industry in Nigeria and Sub-Saharan Africa, NDEP is ready for the future”, the chairman declared.
“Mr. Akinmoladun is a veteran of the Nigerian Petroleum industry, bringing to NDEP a resilient leadership and innovative business acumen. Some 35 years of vibrant and senior level hands-on management experiences from a global industry, all necessary and skillful tools that will enhance the attainment of the company’s strategic future growth goals and initiatives in a superior manner”.
‘Toba Akinmoladun is a 1st Class Honours B.Sc Chemical Engineering (1980) graduate of the University of Lagos. With other key executive learning qualifications from Oxford, Insead, Ashridge and The Shell Group Management Learning Faculties, covering Scenario Planning, Finance for Executive Level and Leadership training.
He has built a career spanning more than 35 years at the Shell Petroleum Development Company of Nigeria, where he started in 1981 as a Petroleum Engineer, Toba rose to other Senior and Executive level positions, including – Senior Drilling Engineer (at PDO Oman) between 1990-96, Forcados Terminal Asset Manager (1996-2002).
Afterwards, he served as Production Functional and Optimization Manager at Shell UK – between 2002 -2004, becoming Asset Manager / Deputy Production Director for Shell Nigeria (2004-2006), General Manager Sub-Saharan Africa Region / Shell Nigeria (2006-11), and Shell Nigeria OEIP Director – with responsibilities for changing Shell Nigeria structure to a leaner organisation.
Before joining NDEP, he was seconded from The Shell Petroleum Development Company of Nigeria (SPDC), as Executive Director – OPTS (between 2012 -2016) during which he successfully coordinated OPTS activities, including strategy/ direction to achieve, OPTS mandates, working with the MD/CEOs of 23 member companies.