NDEP Plc Appoints Two New Directors

Niger Delta Exploration & Production Plc (NDEP), has announced the appointment of two new Directors to its Board, Mr. Osten Olorunsola and Mr. Ede Osayande.

Mr. Osten Olorunsola, a former Director of the Department of Petroleum Resources (DPR) and Mr. Ede Osayande, Former Managing Director of Cooperative Development Bank, Equitorial Trust Bank and Devcom Merchant Bank, both joined the NDEP Board on 17th April 2014.  Their invitaions have been approved by the Board Governance Committee and presented to the full Board at its last sitting.

Dr. Layi Fatona, Managing Director, NDEP Plc, in a statement said, ‘We are fortunate to have such distinguished new Board members joining us. With exposure to all aspects of the petroleum industry, and in-depth financial expertise, the appointments of Mr Osayande and Mr Olorunsola will both complement and strengthen the existing Board of NDEP Plc.

Mr. Osayande is a Capital Market Specialist with over 30 years of experience in Banking and Finance. In the course of his career, he has served in key areas of finance, including governance, financial analysis, risk management, banking operations and regulatory Compliance. He also served in the position of Bank Treasurer and Chief Accountant at PricewaterhouseCoopers Nigeria, earlier on in his career. An Economics graduate of University of Benin and a holder of MBA from the University of Lagos, he is also an alumnus of several international training institutions including International Institute for Management Development, Laussanne, Switzerland and American Express Bank, New York. He is currently a Director of LAPO Microfinance Bank Limited and GSCL Consulting, formerly known as Global Strategic Research Outcome Limited.

Mr. Olorunsola graduated with an Honours degree in Geology from the University of Ilorin, Nigeria and is a skilled Petroleum Engineer. He commenced his career at Agip-ENI, where he trained and worked as a Reservoir & Petrophysical Engineer, later specialsing as a Production Geologist. He then joined The Shell Petroleum Development Company of Nigeria Limited as Production Geologist, and subsequently served in several positions, including Lead Geologist, Petroleum & Development Engineering Manager for SNEPCO, Business Interface Manager (BIM), before retiring as Vice President (Gas).  Mr Olorunsola thereafter was appointed as Director, Department of Petroleum Resources (DPR), drawing from his experience as adviser to two Ministers of Petroleum Resources. Mr. Osten is currently Chairman and Chief Executive of both Capital One Energy Ltd and Energetikos Ltd.

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