Our Founding principles include establishing a technical, commercial and entrepreneurial organisation with full delivery capability across the oil and gas value chain.
FIRST E&P commenced business operations on the 1st of July with 11 members of staff. A 10% shareholding interest in ND Western Limited (equivalent to 4.5% of the working interest in OML 34) was acquired.
A strategic partnership with Dangote Group was created with the formation of the West African Exploration and Production Company Limited (WAEP) and the evolution of the East West Oil and Gas Gathering System (EWOGGS). FIRST E&P emerged the winning bidder for Chevron’s 40% working interest in OML 83 and OML 85.
The VITOL Group acquired a 10% shareholding interest in FIRST E&P. FIRST E&P’s affiliate, WAEP emerged the winning bidder for the SPDC/TEPNG/NAOC JV’s 45% working interest in OML 71 and OML 72. FIRST E&P and DANGOTE Group obtained the Federal Government of Nigeria’s permission (Permit to Survey) to launch the EWOGGS project
FIRST E&P completed the acquisition of OML 83 and OML 85 and was assigned the operatorship of the OML 83 and OML 85 NNPC-FIRST E&P Joint Venture. FIRST E&P’s affiliate (WAEP) completed the acquisition of OML 71 and OML 72 and was assigned the operatorship of the OML 71 and OML 72 NNPC-WAEP Joint Venture. FIRST E&P executed the Heads of Agreement on OML 144 with the Sunlink-SPDC JV– a potential gas offtake opportunity.