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 strategic exploration and development assets.
Strategic Upstream Assets
Our current portfolio includes equity in five (5) assets, predominantly in the shallow offshore area.
These include a 40% interest in OML 83 and 85 which hold the Anyala and Madu fields, currently producing about 60,000bopd. In addition, through our 15% ownership interest in West African Exploration & Production company – the owner of 45% interest in OML 71 and 72, and operator of the asset, we own a 6.75% indirect equity in OMLs 71 and 72. Peak production of OML 71 and 72 is estimated at 30kbopd after successful re-entry. We also hold a 4.5% interest in OML 34 which currently produces 18,000bopd and 400MMscf/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.
These include a 40% interest in OML 83 and 85 which hold the Anyala and Madu fields, currently producing about 60,000bopd. In addition, through our 15% ownership interest in West African Exploration & Production company – the owner of 45% interest in OML 71 and 72, and operator of the asset, we own a 6.75% indirect equity in OMLs 71 and 72. Peak production of OML 71 and 72 is estimated at 30kbopd after successful re-entry. We also hold a 4.5% interest in OML 34 which currently produces 18,000bopd and 400MMscf/d.
Unlocking Significant Growth Potential
In addition, we are growing our midstream footprint, with plans for 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 100,000bopd in the medium term, we are unlocking identified upside opportunities within our current asset base, in addition to looking outside our asset base for selective opportunities that may fit our growth strategy.
In addition, we are growing our midstream footprint, with plans to unlock significant stranded gas resources for domestic supply and export markets.
Balancing Energy Availability with Sustainability
aimed at addressing both present-day energy requirements and anticipating future demands. 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.
Balancing Energy Availability with Sustainability
We are dedicated to pursuing reliable, diversified, and sustainable energy resource supply, with the aim of bolstering 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 both present-day energy requirements and anticipating future demands. 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
These include a 40% interest in OMLs 83 and 85 which hold the Anyala and Madu fields, currently producing about 60,000bopd. In addition, through our 15% ownership interest in West African Exploration & Production company – the owner of 45% interest in OMLs 71 and 72, and operator of the asset, we own a 6.75% indirect equity in OMLs 71 and 72. Peak production of OMLs 71 and 72 is estimated at 30kbopd after successful re-entry.
We also hold a 4.5% interest in OML 34 which currently produces 18,000bopd and 400MMscf/d.
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Stewardship and Impact
We steadfastly uphold our dedication to environmental stewardship and community advancement. As exemplified by our first-of-a-kind efforts in the shallow offshore, and the execution of the Anyala/Madu project, 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.
We intend to drive our CO2 emissions to close to 10kg/boe over the medium term. To realize this objective, our emphasis will be on gas reinjection initiatives aimed at bolstering our zero-flaring campaign.
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.