Petralon Energy Limited, a rising independent exploration and production (E&P) company in the oil and gas sector, has announced the appointment of Mr. Constantine â€˜Labi Ogunbiyi as Strategic Adviser to its Board of Directors.
Ogunbiyi founded First Hydrocarbon Nigeria Limited (FHN), where he served as Chief Executive Officer between 2009 and 2014. In the years before joining FHN, Ogunbiyi functioned as Deputy Head of leading American law firm Cadwalader, Wickersham & Taft LLP’s Africa Practice.
He worked with the International Finance and Banking Department of Magic Circle law firm Herbert Smith Freehills for four years; was an advisor to the Banking Association PPP Unit of the Southern African Development Community (SADC) and has offered strategic advisory services to The New Partnership for Africa’s Development (NEPAD) Business Group.
He currently serves as a director to Newrest ASL plc and Interswitch Limited and is a Special Advisor to Babban Gona (an agricultural franchise, developed by impact investing firm, Doreo Partners), as well as a number of upstream E&P companies, oil services companies and investment funds operating in Africa. â€˜Labi holds legal qualifications from Kingâ€™s College, London, the University of Passau, Germany, and the Oxford Institute of Legal Practice.
As Strategic Advisor, he will work closely with Mr. Mutiu Sunmonu, Chairman of the Board and Non-Executive Directors, Ms. Edith Unuigbe and Mr. Aigboje Aig-Imoukhuede.
Sunmonu enjoyed a successful 36-year career in the oil and gas sector, working with prominent companies including Shell Petroleum Development Company, where he served as Managing Director. Recently appointed to the board, Ms. Unuigbe worked for over 20 years at Nigeria LNG (NLNG) as General Counsel, Company Secretary and Legal Adviser.
Aig-Imoukhuede, Founder and Chairman of investment firm, Coronation Capital, was formerly Managing Director of Access Bank. He currently serves as the President and Chairman of the National Council of the Nigerian Stock Exchange and Wapic Insurance, respectively
Speaking on his appointment, Ogunbiyi said: â€œThis is an opportunity to support the growth of an indigenous company with an excellent track record of capital raising and executing on its development plans. I am delighted to be part of an exceptional team at the helm of Petralon at a very exciting time in the evolution of the indigenous oil and gas sector in Nigeria. I look forward to working with the team to achieve Petralonâ€™s goal of becoming one of the largest indigenous producers in the country, while delivering collective value for all”
â€™The Founder & CEO of Petralon, Mr. Ahonsi Unuigbe also added: â€œPetralonâ€™s board of Directors will benefit immensely from the depth of â€˜Labiâ€™s prior experience in growing upstream businesses and attracting foreign investment. Petralon is an indigenous company with a cross-border outlook that builds on valuable partnerships for sustainable development. I also personally look forward to working closely with â€˜Labi again.â€
Petralon Energy is an African E&P company based in Nigeria but with regional expansion plans into other African countries.
Its founders, directors and management have a proven track record in the indigenous Nigerian upstream oil and gas sector as well as with major international financial and oil and gas companies working in the sector.
The company has already raised over $50 million to fund its immediate growth plans and is aggressively seeking out new assets to grow its portfolio.
Petralon is set up to acquire, develop, and operate assets in the oil and gas sector, including, but not limited to farm-in opportunities (with indigenous and international oil companies), marginal fields, and bid rounds and concessions.