Belemaoil Appoints New CEO and CFO to Drive Major Transformation

Belemaoil Producing Limited, an indigenous oil and gas firm, has announced the appointment of Ahmadu H. Sambo as its new Managing Director and Chief Executive Officer (CEO), alongside Emmanuel O. Onos as its Chief Finance Officer (CFO). The company is poised for a significant transformation under this new leadership to realize its shared vision of global growth and operational excellence.

In a statement released over the weekend, Belemaoil's board of directors expressed confidence in the newly appointed leaders, citing their impressive credentials and extensive experience. "The board has carefully reviewed their rich backgrounds and found them deserving of these positions," the statement read.

Ahmadu H. Sambo: A Seasoned Leader with Proven Expertise

Ahmadu H. Sambo, who previously served as the Group General Manager (GGM) of Finances at the Nigerian National Petroleum Corporation (NNPC), brings over 35 years of experience in the oil and gas industry across both public and private sectors in Nigeria and the United States. His career highlights include leading roles as Managing Director for three NNPC subsidiaries, including NNPC Pension Fund, NIDAS Marine, and NNPC Oilfield Services. He also held key financial roles, such as General Manager for NAPIMS Finance and Accounts, and Group General Manager of Accounts for the NNPC Group.

Emmanuel O. Onos: Financial Expert to Propel Belemaoil Forward

The new CFO, Emmanuel O. Onos, also comes with over 35 years of experience in financial management within the oil and gas sector, having served in various leadership capacities both locally and internationally. His deep understanding of the industry dynamics and financial strategies is expected to complement Sambo's leadership in driving Belemaoil's transformation agenda.

Driving Transformation and Unlocking Value

The board of directors believes that the combined leadership of Sambo and Onos, supported by the existing management team, will revitalize Belemaoil's joint venture operations, unlock multi-billion-dollar value, and position the company for greater achievements. The appointments are effective from September 1, 2024.

"The board considers this team a perfect blend of skills and expertise needed to reset Belemaoil as a world-class exploration and production company," the statement continued, "and to establish it as the best public enterprise for Nigeria and international equity investors."

Founder's Vision: Expanding Beyond Oil

Following these appointments, Belemaoil's President and Founder, Tein T.S. Jack-Rich, will focus on strategic multi-dimensional business development, including ventures in the fintech space. He emphasized his commitment to fostering partnerships with communities to promote financial inclusion, social good, peace, and shared prosperity for national benefit.

Jack-Rich highlighted that with over 1.2 trillion proven gas reserves, Belemaoil is now positioned for higher profitability under its new leadership. He expressed confidence in the new appointees' business acumen and ability to lead Belemaoil to become the first truly indigenous oil and gas company to be listed on the Nigerian Stock Exchange, as well as the London and New York Stock Exchanges.

Looking Ahead: A Bold Vision for Growth

"We have no choice but to dream big and push beyond our limits," Jack-Rich stated, acknowledging that while the task ahead is challenging, the new leadership is well-equipped to deliver value for Nigeria, investors, and the communities that consider Belemaoil a model enterprise.

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