– UK, London – ADM Energy PLC (LON: ADME | BER: P4JC | FSE: P4JC), a natural resources investing company, today announced the appointment of Oliver Andrews to its Board as Non-Executive Chairman with effect from 2 August 2021, succeeding Peter Francis, who is stepping down as Non-executive Chairman.
“I am delighted to welcome Oliver as the new Chairman of ADM Energy. Oliver is a prominent figure in the African natural resources scene having run one of the continent’s largest investment funds as Chief Investment Officer and overseen the development of several landmark projects. His extensive experience in originating and evaluating transactions, as well as financing and developing projects, will provide invaluable insight. I look forward to Oliver’s guidance as he supports our strategy to unlock the upside from our asset base while seeking attractive new opportunities.” said CEO, Osamede Okhomina.
He added: “On behalf of all at ADM, I would like to thank Peter for his outstanding dedication and contribution to the company throughout his tenure and wish him the very best for the future.”
About Oliver Andrews
Oliver Andrews has over 35 years’ experience in infrastructure development, investing, public-private partnerships and strategic advisory work such as advising and partnering with governments, regional and international corporations and development finance institutions. During his career, in differing senior roles, he has overseen the investment of approximately US$10bn and originated US$100bn of investments in natural resources and infrastructure deals across the African continent on behalf of investee institutions.
Oliver Andrews was formerly Executive Director and Chief Investment Officer at the Africa Finance Corporation, one of the biggest investors in natural resources and infrastructure solutions in Africa, where he oversaw the growth of assets under management from US$1bn to over US$8.4bn including significant investments in the oil and gas sector. In addition, Mr Andrews pioneered the project development asset class at AFC, and led strategic formulation and business development, portfolio management and execution of investments.
He previously served as CEO of TCI Infrastructure and the Gambia Ports Authority. He is the Founder and Chairman of TOCAM Capital Limited, a transaction advisory firm that specialises in project development and transaction advisory services across Africa. Mr Andrews was also previously a Director at Thor Explorations Ltd., whilst it was listed on the TSX Venture Exchange, a diversified resource company that has assembled a portfolio of exploration assets in West Africa.
Mr Andrews’ board and leadership experience also includes roles as pioneer Chairman of Africa Infrastructure Development Association, former member of the Global Climate Finance Lab and former Chair of the Africa Centre. He has also been a strategic adviser to several governments as a member of the Africa & Middle East and Commonwealth Infrastructure Technical Advisory Groups.
Mr Andrews holds an MBA from the University of Wales, is an Electrical and Electronic Engineer, a Chartered Marketer and also a fellow of the Chartered Institute of Transport and Logistics.
Oliver Andrews commented: “This is a period of significant change in the natural resources sector, but also one of unprecedented opportunity. For agile, well-connected companies like ADM, it is possible to acquire reserves and develop sustainable projects at low cost with attractive risk-reward profiles. I am delighted to take up the role of Chairman and intend to work closely with Osa and the team to deliver on the company’s ambitious growth strategy – both by progressing ADM’s existing projects and further expanding its portfolio. I am excited to assist with my experience and network across Africa as we focus on building ADM for the benefit of all our shareholders.”
About ADM Energy PLC
ADM Energy PLC is a natural resources investing company with an existing asset base in Nigeria. ADM Energy holds a 9.2% profit interest in the oil producing Aje Field, part of OML 113, which covers an area of 835km² offshore Nigeria. Aje has multiple oil, gas, and gas condensate reservoirs in the Turonian, Cenomanian and Albian sandstones with five wells drilled to date.
The Company also holds an investment in the development of the Barracuda Field, an existing discovery and near-term production asset in the NW part of OML 141, which covers 103 km2 in the swamp/shallow waters of the Niger Delta. Four existing wells have been drilled to date and a fifth is intended to be drilled in Q4 2021.
ADM Energy is seeking to build on its existing asset base in Nigeria and target other investment opportunities across the West African region in the oil and gas sector with attractive risk reward profiles such as proven nature of reserves, level of historic investment, established infrastructure and route to early cash flow.
For more information : https://admenergyplc.com/
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