Coastal Africa Group Appoints Industry Veteran Osten Olorunsola to Board

Coastal Africa Group Limited has announced the appointment of Osten Olorunsola as a Non-Executive Director, effective immediately. The AIM-quoted investing company focuses on acquiring and investing in the oil and gas sector, energy infrastructure, energy services, and energy assets across West Africa. The appointment positions the widely respected energy figure to support the group as it advances its upstream and midstream development programme in the region.

Mr Olorunsola brings more than four decades of experience at senior levels within the energy industry, combining backgrounds in policy, regulation, and commercial operations. He served as Director of Petroleum Resources for Nigeria from 2011 to 2013, where he was responsible for regulating the country's oil and gas industry. Additionally, he acted as Technical Team Lead for the drafting of the Petroleum Industry Bill from 2010 to 2021, and is recognized as one of the key architects of Nigeria's Petroleum Industry Act.

His career includes ten years with Agip-ENI in petroleum geoscience and reservoir engineering, followed by 22 years at Shell International in senior leadership roles. These positions included Head of Planning and Economics, Petroleum Engineering Manager for Nigeria's first major deep offshore development, and Vice President of Commercial Gas and Power for Sub-Saharan Africa. He currently chairs Aradel Holdings and holds directorships at Waltersmith Petroman Oil, IGI Insurance Limited, and Lee Engineering Group, alongside his role as Country Chairman of the Energy Institute.

Conrad Clauson, Group Chief Executive Officer of Coastal Africa Group Limited, noted that Mr Olorunsola's rare combination of running assets, regulating the industry, and helping write governing legislation will bring significant value to the board. Mr Olorunsola stated that he believes in the company strategy of bringing capital, technical capability, and operating discipline to proven African assets, noting the presence of significant opportunity for responsible development in Nigeria and across the continent.

Why This Matters

Boardroom appointments in cross-border energy investment vehicles often signal strategic shifts in how firms navigate complex regulatory jurisdictions. For an AIM-quoted entity deploying capital into West African hydrocarbons and infrastructure, securing leadership with direct authorship over foundational legislation like the Petroleum Industry Act reduces regulatory friction. This depth of insight allows management teams to interpret fiscal terms accurately and align corporate development programmes with evolving statutory frameworks in core operating markets such as Nigeria and Angola.

Furthermore, bridging the gap between international capital markets and regional operational realities requires profound institutional credibility. Operators that integrate veteran policymakers into governance structures are better equipped to manage sovereign risk, secure stakeholder alignment, and navigate compliance requirements across both upstream and midstream segments. This governance approach supports long-term asset optimization by fostering transparent dialogue with national regulators and state entities.

Opportunities

• Asset Developers and Operators: Partner with the firm to accelerate upstream and midstream project execution by leveraging governance expertise attuned to local fiscal regimes.
• Energy Infrastructure Contractors: Secure service contracts tied to Coastal Africa Group's portfolio expansion in Nigeria, Angola, and the wider West African region.
• Project Financiers: Evaluate structured investment opportunities backed by experienced leadership capable of mitigating regulatory and operational execution risks.
• Energy Advisory Services: Engage with regional stakeholders requiring specialized insight into compliance, asset integration, and hydrocarbon resource valuation.

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