Engr. Osa Owieadolor, Platform Petroleum’s Chief Executive Officer, is exiting his position and the company after 14 years in the management of the oil producing company.
The practical and respected Chemical Engineer, broke the news recently of his decision to elect for an early retirement when he granted interview to select media houses.
“It has been 14 years of very fulfilling career Journey with Platform, laced with unique, broad and diverse experiences.” Engr. Osa Owieadolor said.
“I cherish all the relationships I have made while here and would hold on to the many accomplishments that are part of my history with Platform”.
A Fellow of the Nigerian Society of Engineers, Owieadolor spent seven years working for Shell and has had close to half of his 29-year postgraduation experience at Platform Petroleum, a marginal field operating company in which he rose from production operations, served as pioneer technical lead, been chief operations manager and to become the Chief Operating Officer, before becoming the CEO in 2015.
Platform is an exemplary operator in Nigerian marginal oil field development and to be its CEO comes with opportunities and challenges. It was the first to find crude in commercial quantity, out of the 24 operating companies granted marginal fields in 2003/2004.
The JV partner Newcross Petroleum, Platform constructed a crude evacuation pipeline and a gas processing plant on the field in 2007.
Platform has extracted 10Million barrels -with a remaining 10Million barrels left in a field whose estimated reserves at the time of award was less than 10 million barrels.
Owieadolor has been with the company since the year of first oil.
“My learning has been very steep.” He emphasised.
“In a small company, you have a lot of responsibilities, you have to be involved in so many things, unlike what you would typically have in a place like Shell. It’s been a very fulfilling experience, and we have also seen a lot of value creation.” He explained.
“I am extremely grateful to the Chairman, Vice Chairman, Board members, management team and entire staff whom I worked very collaboratively with to achieve our board objectives as a family”.
The outgoing CEO explains that Platform is fortunate to have a robust succession plan in place.
“This was carefully designed and we have taken time to ensure it was nurtured and implemented over the years. Atakele’s ascension to the top job fits the plan.
“The current GM Asset who is also my deputy is well groomed and matured to seamlessly fill the role.”
Austin Avuru, deputy chairman of Platform Petroleum’s board of directors, says he and Dumo Lulu-Briggs, the company’s Chairman of the Board, were hoping that Owieadolor would change his mind when he initially informed the board he was leaving.
“We were expecting him to come forward with a request for his second term of three years.
“The renewal would have been automatic. Just a formality. Instead, Owieadolor, who turned 51 two weeks ago, came up with the information that he was electing early retirement.
“He had done a good job”, Avuru concluded.