Our Portfolio Strategy
Our ambition is to be the premier, shallow offshore, indigenous company in Nigeria, with full delivery capacity across a balanced portfolio of exploration and development assets.
Strategic Upstream Assets
FIRST E&P holds a 40% interest in the OML 83 and 85 Joint Venture with NNPC Limited which hold the Anyala and Madu fields, currently producing almost 60,000 BOPD.
In addition, FIRST E&P holds a 15% interest in West African Exploration & Production company (WAEP) which holds a 45% interest in OML 71 and 72. Peak production of OML 71 and 72 is estimated at 30,000 BOPD after successful re-entry. WAEP is currently carrying out a Long Term Well Test on the field.
We also hold a 4.5% interest in OML 34 which currently produces 17,000 BOPD and 390MMscf/d.
Strategic Upstream Assets
Today, we have solidified our position as one of the most respected independent upstream exploration and development companies in Nigeria. Our current portfolio includes equity in five (5) assets, predominantly in the shallow offshore area.
FIRST E&P holds a 40% interest in OML 83 and 85 Joint Venture with NNPC Limited which hold the Anyala and Madu fields, currently producing almost 60,000 BOPD.
In addition, FIRST E&P holds a 15% interest in West African Exploration & Production company (WAEP) which holds a 45% interest in OML 71 and 72. Peak production of OML 71 and 72 is estimated at 30,000 BOPD after successful re-entry. WAEP is currently carrying out a Long Term Well Test on the field.
We also hold a 4.5% interest in OML 34 which currently produces 17,000 BOPD and 390MMscf/d.
Unlocking Significant Growth Potential
We are also growing our midstream footprint, with plans to unlock significant stranded gas resources for domestic supply and export markets.
Unlocking Significant Growth Potential
With a vision of growing our production in excess of 100,000 BOPD in the medium term, we have acquired 3D seismic of OML 83 and OML 85 which shows additional infield wells in the producing fields as well as sizeable drillable exploration prospects in Songhai and Ato. In addition, OML 71 and OML 72 have significant production upsides. In the mid-term, success in Ghana will further boost our production.
We are also growing our midstream footprint, with plans to unlock significant stranded gas resources for domestic supply and export markets.
Balancing Energy Availability with Sustainability
Our commitment to natural gas development however extends beyond production; it is about
creating value through effective monetization strategies and robust infrastructure development.
Our midstream business activity will focus on the aggregation and processing of offshore stranded gas, facilitating its distribution to the domestic market and enabling access for regional exports.
Balancing Energy Availability with Sustainability
We are dedicated to pursuing reliable, diversified, and sustainable energy resource supply, with the aim of contributing towards the nation's economic advancement and fortifying our energy availability. In the medium and long term, we are strategically aligned with the energy transition imperative aimed at addressing present-day energy requirements whilst anticipating future demands and alternative energy sources. In line with this, we are very focused on growing our natural gas footprint and expect our midstream gas business to be fully operational in 2026.
Our commitment to natural gas development however extends beyond production; it is about creating value through effective monetisation strategies and robust infrastructure development. Our midstream business activity will focus on the aggregation and processing of offshore stranded gas, facilitating its distribution to the domestic market and enabling access for regional exports.
Stewardship and Impact
In the short term, we are poised to achieve a notable 95% reduction in Scope 1 and 2 carbon emissions in 2024, affirming our unwavering commitment to the enduring eradication of these emissions from our operational framework by minimizing flaring and reinjecting gas.
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Stewardship and Impact
We firmly uphold our dedication to environmental stewardship and community advancement. This is exemplified by our unique efforts in the shallow offshore, and the execution of the Anyala/Madu project utilizing Conductor Supported Platforms (CSPs) which offer several environmental benefits over traditional platforms and minimize ecological disruption. Through measures like these, we demonstrate our depth, breadth, and execution capability with a keen focus on minimizing ecological impact.
In the short term, we are poised to achieve a notable 95% reduction in Scope 1 and 2 carbon emissions in 2024, affirming our unwavering commitment to the enduring eradication of these emissions from our operational framework by minimizing flaring and reinjecting gas.
Balancing Oil and Gas for a Sustainable Future
We expect our success to continue to be driven by our technical depth and commercial breadth. We aim to be the leading player, actively addressing the continent’s energy needs with strategic assets in Nigeria and the wider Western African region.