…Operator of the NNPC / Nembe E&P Joint Venture/Nigeria’s Leading Indigenous Upstream Company.
Nembe Exploration & Production Company is the flagship upstream subsidiary of the Aiteo Group and the Operator of the OML29 Asset and the over 110km, 600Kbbl/d capacity Nembe Creek Truckline (NCTL). The Aiteo group acquired the 45% private interests of Shell, Total and Agip on the block and the trunkline. The acquisition was through Aiteo Eastern E&P Ltd, renamed in Q2, 2025 to Nembe E&P Ltd. At the takeover of operations of the assets, we were able to quickly ramp up production from less than 25kboe/d to over 90Kboe/d in less than one year.
However, its growth was severely impacted and truncated by the incessant oil theft and facility vandalisation resulting to over 90% production loss. This unsustainable loss magnitude became an existential threat leading to completed cessation of production for over 18months. We therefore had to re-strategize and changed our operating model to secure our production to protect value for the joint venture and the nation at large. We went into strategic partnership with the Nembe Crude Oil Export Terminal who invested in and set up an alternative evacuation system for us. This new evacuation system comprising an FSO of 2Mbbl capacity offshore terminal and a fleet of five 38Kbbl capacity shuttle vessels, a temporary CPF complete with all other necessary ancillary equipment. A permanent CPF and underwater pipeline are currently under construction to provide a permanent solution and give impetus to our production growth aspirations.
The company’s next phase involves scaling up oil production to 150,000 bpd and gas utilization to over 200million scf/day, positioning us as one of Nigeria’s leading independent oil and gas producers, a position we currently enjoy. We are investing in other frontier energy infrastructure like, refining, natural gas utilization, and so on, all designed to secure Nigeria’s energy future.
Nembe E&P has received multiple industry accolades, including Independent Oil & Gas Company of the Year (SAIPEC 2024), Upstream Company of the Year (BusinessDay), and several awards for sustainability, CSR, and leadership from The Guardian, PETAN, and others.
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