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Peter Ize Okundaye

Mr. Peter Ize Okundaye emigrated from London, England and Nigeria to join his parents in Starkville, Mississippi, in 1976 where his father Dr. Joseph E. Okundaye was completing his doctorate degree in Agronomy, at the Mississippi State University. At the end of Dr. Okundaye’s education at Mississippi State, he returned to Nigeria while Mr. Peter Okundaye relocated to Houston, Texas, a city with similar climatic conditions to Nigeria. He attended the University of Houston, and graduated as an Accountant in 1986.

Realizing the importance of Oil & Gas to his native country Nigeria, a leading OPEC producer, he immediately decided to pursue a career in the Oil & Gas industry. In 1987, he started a six-year career that led him to secure a successful managerial tenure at Columbia Gas Transmission Corporation where he was Manager of Budget Pricing & Gas Pipeline Transportation for the Southwest of United States. At Columbia Gas, he was responsible for various gas pipeline rate increase case filings with FERC. At the end of the Columbia Gas tenure, he served on consulting capacity with various major oil & gas companies such as Enron, Tenneco (now El-Paso Energy), and Conoco/Dupont for their proposed downstream gas processing project in Nigeria.

In 1993, after establishing Common Resources Ltd, an offshore entity dedicated to assisting Nigerian Oil & Gas companies source qualified technical and financial partners for their Oil concessions, he went into a joint venture with PHIL H. NUGENT, Ltd of Houston to enhance such opportunities in Nigeria. Through the joint venture agreement, Common Resources signed a minimum one year exclusive agreement with Famfa Oil, an indigenous oil company, to source qualified partners for it’s OPL 216 deepwater block. In 1996, on expiration of the Famfa agreement, Famfa signed with Texaco and later discovered the 1 billion-barrel Agbami field.

Since 1996, as he decided to focus on developing and participating in international oil & gas activities with emphasis on Nigeria and West Africa, he in association with three other Nigerians founded Hoslyn Technologies which later developed into Hoslyn Oil & Gas Services, In 1997 Hoslyn participated in the bid and won the contract for the Engineering, Procurement and Construction of a 10,000 barrel per day Early Production Facility for the Nigerian Petroleum Development Corp, a subsidiary of NNPC. Under his co-leadership, in 1998, Hoslyn awarded the same contract under a technical partnership agreement to Unifab’s Allen Process for $5.6million. In 1999 and 2000, Hoslyn entered into country specific business alliance with Enron Engineering Construction Corp, (EECC) for the country of Nigeria. The Hoslyn /EECC consortium bid for the $200m ELF/NNPC Floating Storage Offshore (FSO) – (2.3m bbl vessel) and the $310m SHELL/NNPC Forcados-Yokri Offshore production revamp Project in Nigeria but was unsuccessful because of EECC pricing error.

Mr. Okundaye in addition to his ownership of Oases Offshore Nigeria Ltd, the developer of the new generation Oases Jack-Up multipurpose vessel, he is the President of the co-owner of PHIL H. NUGENT NIGERIA LTD, an energy development company dedicated to various energy related services and Natural Gas Processing projects in Nigeria. Mr. Okundaye maintains high level relationship with the Nigerian ruling hierarchy.

Mr. Okundaye is married with three children.

You can contact Mr. Okundaye at pizeokun@swbell.net