PRESENTLY ANTONIO OIL PLC IS BUILDING its own oil refinery at IWOPIN OGUN STATE NIGERIA. As Antonio oil plc transitions from a regional domestic player into an international Independent oil company to be listed on the Nigerian Stock Exchange, I feel enormously proud of having been part of the team of colleagues and fellow investors who established the business nearly a decade ago.As Group managing
director / CEO of the new entity, I look forward with equal pride to playing a significant role in the next chapter of its development. When Antonio oil plc first entered the Nigerian oil industry, people said it was a premature and very risky move. But as Nigeria businessmen, our board and investors, we and our partners considered it vital to foster cross-border investment. Accordingly, in 2008 we concluded a Production Sharing Contract (PSC) with the German and Saudi/ Lebanese partners for the appraisal and development of our oil refinery license area. The move was a milestone in the history of both Nigeria and the Germany / Saudi petroleum industry, allowing for the first time a privately-owned Nigerian company to take charge of a world-class refinery project in an oil province of such immense promise. Since then our offices and professional staffs in Antonio oil plc has under gone series of international courses and trainings and This has expanded rapidly, a reflection of increased activity and growing success. We have signed additional PSCs in Germany UK Saudi Lebanon Cyprus ,Spain , India and much more who where the former operators Of the 27,000bpd oil refinery. As well as creating a profitable business I believe we have also built a reputation as a good employer with a strong safety culture and a good corporate citizen which has devoted resources to a number of community projects. We have sought across all our activities to cultivate enduring relationships of mutual benefit so that we become partners of choice wherever we do business. As GMD/CEO of Antonio oil plc, the continued strengthening of those relationships, both within the Nigerian and other Regions elsewhere, will be my prime focus
1 - Maintain the highest level of corporate governance
Compliance with the provisions of the Nigerian Corporate Governance Code
Maintain a majority of Independent Non-Executive Directors
All Board Committees comprised of only Independent Non-Executive Directors
2 - Create value with the drill bit
Continued` development and reserve growth at Antonio oil plc
Convert prospective resources across the exploration portfolio into contingent resources and reserves
3 - Manage the existing operations on a cash flow neutral basis
Cash flow from producing assets is sufficient to fund refining /exploration program and ongoing development of Antonio oil refinery
4 - Build a major international E&P business over the next 3-5 years
Consolidate in Nigeria
Find another focus area in Africa and Africa
As we all pray for Gods continued wisdom in all our activities, let work together to make the world a better place. God bless you All. Engr Anthony Effedua. Group Managing Director / CEO
Antonio oil plc
