By Macson Obojemuinmoin, in Lagos
Addulrazaq Isa has returned to executive role at Waltersmith Petroman, the Nigerian E&P firm he co-founded.
The former banker retreated into a Non-executive Chairman role four years ago, as Waltersmith appointed Chikwezie Nwosu as Chief Excecutive Officer. Nwosu’s appointment at the time was meant to be part of Waltersmith’s next phase of evolution. “where the owner/founders no longer ran the company on a hands on basis”.
That evolution has apparently been disrupted and a new company structure has taken shape, in which Isa is the President/Group Chief Executive Officer of the holding company, overseeing three subsidiaries, namely: Waltersmith E&P, the upstream arm of the company; Waltersmith Refining and Petrochemical Limited and Waltersmith Industrial Park Ltd. The last company is the “Landlord” of both the upstream and downstream properties as well as the burgeoning facility that will provide a number of services including gas and power supply, refined petroleum products and other ancillary services, to tenants.
Dapo Filani will become the Chief Executive Officer of Waltersmith E&P; Ayokunle Okusanya will move up from the position of Chief Investment Officer to CEO of Waltersmith Industrial Park and Abdu Isa, (no relations to the Group Chief Executive Officer), has been promoted from General Manager Refinery, to CEO Waltersmith Refining and Petrochemical Limited.
Filani arrives Waltersmith from First E&P, where he was Deputy General Manager Corporate Strategy & Business Delivery, a job he has held for close to two years after a stint as Business Adviser to that company’s MD/CEO. Filani spent the first 13 of his 23 years of industry experience, in reservoir engineering and field development management roles.
Okunsanya, who has been a steady, right hand man to the Group CEO, is a certified Nigerian accountant, who worked as Head, Fund and Portfolio Management at both Kakawa Asset Management and IEI Assets Ltd, before joining Waltersmith in 2010.
Abdul Isa was, as of 2010, Waltersmith’s Crude Export and HSE Manager. He wa
s named General Manager, Refinery at the newly created Waltersmith Refining and Petrochemical Company in March 2020.
The three CEOs will be busy; in the midstream/downstream Waltersmith Petroman is about to launch the construction of a second, 5,000Barrel Per Stream Day modular refinery. In the upstream, the company looks forward to a drilling campaign on the Assa field, which was discretionally awarded to Waltersmith by President Buhari in April 2021 (one of the last discretionary awards of upstream acreages). The Industrial Park has a load of a work, including the finalization of feasibility study by its partner, the United Nations Industrial Development Organisation (UNIDO), fencing the 65 hectare park site, commissioning the architectural design, executing the 30MMscf/d gas off take agreement with Seplat and starting the design, permitting and installation of 8km gas pipeline from ANOH gas plant to the industrial park.
Awesome update .
I sincerely think that , waltersmith refinery is doing well in the oil and gas downstream sector now in nigeria just like the ND refinery also in Rivers state .
The FG should try as much as possible to granting more approval to others and assist in the best areas where needed.