List of Oil Well Owners in Nigeria

 List of Oil Well Owners in Nigeria

Nigeria’s economy greatly benefits from the oil and gas sector, which employs a large number of people in the extraction, processing, and distribution of petroleum products. List of Oil Well Owners in Nigeria both International Oil Companies (IOCs) and domestic oil businesses are listed as owners of oil wells in Nigeria.

IOCs with a long history of operations in Nigeria, like Shell, ExxonMobil, Chevron, Total, and Eni, have made large investments in the exploration and production of oil and gas. To explore and produce oil and gas resources, these businesses have partnered with the Nigerian National Petroleum Corporation (NNPC).

The growth of Nigeria’s oil and gas sector has also been significantly aided by indigenous oil firms like Oando, Seplat, and Aiteo. These businesses have made large expenditures in exploration and production in addition to purchasing assets from IOCs.

 List of Oil Well Owners in Nigeria

Nigerian National Petroleum Corporation (NNPC)

Nigeria’s state-owned oil company, the Nigerian National Petroleum Corporation (NNPC), was founded in 1977. Exploration, production, refining, marketing, and transportation of Nigeria’s petroleum resources are within the authority of NNPC.

NNPC’s primary goals are as follows:

  1. Investigating and exploiting gas and oil resources.
  2. Production of petrochemicals and refining.
  3. Petroleum product commercialization and transportation.
  4. Offering the oil and gas sector financial and technical help.
  5. Regulating the sector to guarantee adherence to environmental and safety requirements.

NNPC’s affiliates and subsidiaries consist of:

  1. The NPDC, or Nigerian Petroleum Development Company
  2. Products Marketing Company (PPMC) Pipeline and Products
  3. NGC, the Nigerian Gas Company
  4. The company that markets petroleum products (PPMC)
  5. Kaduna Petrochemical and Refining Company (KRPC)
  6. Refining Company of Port Harcourt (PHRC)
  7. Warri Petrochemical and Refining Company (WRPC)

Nigeria’s economy depends heavily on NNPC, which also brings in a sizable amount of money for the government. Notwithstanding these obstacles, NNPC continues to be a major participant in Nigeria’s oil and gas sector.

 List of Oil Well Owners in Nigeria: Shell Petroleum Development Company (SPDC)

History: 

In 1937, SPDC was founded as a Royal Dutch Shell subsidiary. Since starting operations in Nigeria in 1958, it has grown to be the nation’s biggest oil producer.

Operations: 

SPDC is involved in pipeline construction and oil mining leases (OMLs) in the Niger Delta area. It can produce more than 600,000 barrels of oil and gas per day from both onshore and offshore sites.

Disputations: 

The SPDC has been embroiled in many disputes throughout the years, such as:

  1. The Niger Delta’s environmental deterioration and pollution, which harm residents’ livelihoods and health.
  2. Human rights breaches, like as claims of involvement in villagers’ murders and Ken Saro-Wiwa and other Ogoni leaders’ execution.
  3. Charges of bribery and corruption, involving the OPL 245 affair.
  4. Charges of ignoring oil spills and not clearing pollutants.

Community Relations: 

The SPDC has come under fire for its community relations strategies, with claims that it ignores nearby communities and doesn’t adequately compensate those harmed by environmental and land use decisions.

Security: 

SPDC has had security issues that have affected its operations and income, such as oil theft and pipeline damage.

Reputation: 

The accusations and disputes surrounding the SPDC’s activities in Nigeria have damaged the organization’s standing. Environmental and human rights organizations have criticized the firm globally.

 List of Oil Well Owners in Nigeria: Mobil Producing Nigeria (MPN)

The Nigerian National Petroleum Corporation (NNPC) and affiliates of ExxonMobil have partnered to form MPN. MPN has been in business in Nigeria since 1955 and currently has 300 producing wells in addition to over 90 platforms. 

Since August 2022, ExxonMobil has been trying to sell Seplat its shallow water assets (MPN) for between $1.3 and $1.6 billion. For their efforts in sustainability and corporate social responsibility, MPN has received many honors. The business has been under fire for its environmental record, which includes pollution in the Niger Delta and oil spills.

Activities:

With its primary headquarters located in Eket, Akwa Ibom State, MPN works in both onshore and offshore parts of the Niger Delta. The corporation runs many pipelines, notably the Obiafu/Obrikom–Escravos pipeline, and has holdings in fourteen oil mining leases (OMLs).

Relations with the Community:

Building roads, bridges, and healthcare facilities are just a few of the community development initiatives in which MPN has been involved. Additionally, the business has given local people access to programs for economic development and scholarships.

Awards and Recognition:

MPN has received many honors for its efforts in sustainability and corporate social responsibility, including the 2017 Nigeria Petroleum Industry Games’ “Best Company in Social Responsibility” title.

Environmental Record:

MPN has been connected to many environmental disasters and oil spills, including a significant oil spill that occurred in 2012 and impacted several Niger Delta villages. The business has come under fire for how it handles environmental problems and how it affects nearby ecosystems.

Divestment:

ExxonMobil stated in 2022 that it would sell Seplat its shallow water assets (MPN) for a price between $1.3 and $1.6 billion. The deal was supposed to close in 2023, subject to regulatory permission, but it was postponed because of problems with the Nigerian government.

Chevron Nigeria Limited (CNL)

  1. Chevron Nigeria Limited, a branch of Chevron Corporation, is one of Nigeria’s largest oil producers. 
  2. Through a joint venture with the Nigerian National Petroleum Corporation (NNPC), CNL operates and owns a forty percent stake in eight concessions in the onshore and near-onshore Niger Delta regions.
  3. Chevron also does business in Nigeria via additional affiliates.
  4. Chevron businesses own participation interests ranging from 20 to 100 percent in acreages held in three operational and six non-operated deepwater blocks.
  5. The Agbami field, which covers 45,000 acres, is situated 70 miles offshore in the middle Niger Delta.
  6. A sizable amount of Nigeria’s domestic gas supply comes from CNL.
  7. Chevron runs the Escravos Gas Plant (EGP), which can process 680 million standard cubic feet of natural gas per day and export 58,000 barrels of LPG and condensate per day.

 List of Oil Well Owners in Nigeria: Chevron Nigeria Limited (CNL)

  1. Additionally, the business runs the Escravos Gas to Liquids (EGTL) facility, which can process 325 million cubic feet of natural gas per day.
  2. NNPC Limited, CNL, and the Nigerian National Petroleum Company Limited jointly operate the joint venture under the management of Chevron Nigeria Limited.
  3. With a century-long history and substantial investments, Chevron is the third-largest oil producer and one of the biggest investors in Nigeria.
  4. A novel public-private paradigm that fosters social and economic stability in the Niger Delta is the GMoU. It has significantly improved the communities’ non-infrastructure as well as infrastructure.

Total E&P Nigeria Limited (TEPNL)

  1. Based in Lagos, Nigeria, Total E&P Nigeria Limited, or TEPNG, was established in 1962.
  2. The business is classified as an oil and gas exploration and development firm and is a private subsidiary of TotalEnergies SE.
  3. For almost 60 years, TotalEnergies EP Nigeria Limited has contributed more than 3.6 billion barrels of oil equivalent to Nigeria’s output in the upstream sector of the country’s hydrocarbon business.
  4. TEPNG manages and has a 40% stake in the NNPC/TEPNG Joint Venture, which produces natural gas and oil from many shallow-water and onshore concessions.
  5. With a 15% stake, TotalEnergies Gaz Electricite Holdings France is part of Nigeria LNG, which runs six LNG liquefaction units on Bonny Island at the moment.

 List of Oil Well Owners in Nigeria: Total E&P Nigeria Limited 

  1. The corporation has reduced flaring and increased energy efficiency, among other measures, to lessen its environmental impact.
  2. TEPNG has also contributed to many community development initiatives, encompassing programs for economic empowerment, healthcare, education, and infrastructure improvement.
  3. Total E&P Nigeria Limited is dedicated to fostering inclusion and diversity in the workplace and has a diverse staff.
  4. The business has put in place many programs to empower women in the workforce and advance gender equality.
  5. The corporation has forged alliances with regional companies and associations to foster economic growth and employment generation inside the nation.

Eni Nigeria

Operating in Nigeria since 1962, Eni Nigeria is a subsidiary of Eni, an Italian energy firm.

  1. Eni Nigeria is active in the nation’s production, exploration, and power generation.
  2. The business operates in the Niger Delta both onshore and offshore, as well as through joint ventures with regional partners.
  3. Eni would continue to be present in Nigeria through its other companies even after the sale, with an emphasis on offshore projects and Nigeria LNG.
  4. With a strong emphasis on the exploration, production, and development of oil and gas resources, Eni Nigeria has been a significant player in Nigeria’s oil and gas business for more than 60 years.

 List of Oil Well Owners in Nigeria: Eni

  1. With activities covering many states, including Rivers, Delta, and Bayelsa, the firm has a major footprint in the Niger Delta area.
  2. Eni Nigeria has made a substantial contribution to Nigeria’s oil and gas output through its joint venture agreement with the Nigerian National Petroleum Corporation (NNPC) and other regional partners.
  3. The business has a strong commitment to community development, environmental preservation, and safety. 
  4. Eni Nigeria has also contributed to the creation of the Okpai Independent Power Plant, which has increased Nigeria’s capacity to generate electricity, among other significant projects.
  5. Eni Nigeria has developed renewable energy projects, such as solar and wind power ventures, in addition to its oil and gas activities.

Addax Petroleum Nigeria Limited

A division of the global oil and gas production and exploration business Addax Petroleum, Addax Petroleum Nigeria Limited. Founded in 1994, Addax Petroleum Nigeria Limited was purchased by the Sinopec Group in August 2009. 

The company’s strategic priorities include Europe, the Middle East, and Africa. Addax Petroleum Nigeria Limited is an oil mining lease holder with onshore and offshore activities in OML 123, OML 124, OML 126, and OML 137. 

  1. Addax Petroleum Nigeria Limited is firmly committed to community development, environmental preservation, and safety.
  2. The business has taken several steps to lessen its environmental impact, such as using solar energy and energy-saving devices.
  3. Addax Petroleum Nigeria Limited has contributed to several community development initiatives, encompassing programs for economic empowerment, healthcare, education, and infrastructure development.
  4. The business has won several accolades for its sustainability and CSR initiatives, including the 2020 Nigeria Petroleum Industry Games’ “Best Company in CSR” title.
  5. Addax Petroleum Nigeria Limited is dedicated to fostering inclusion and diversity in the workplace and has a diverse staff.
  6. The business has put in place several programs to empower women in the workforce and advance gender equality.
  7. The corporation has forged alliances with regional companies and associations to foster economic growth and employment generation inside the nation.
  8. Addax Petroleum Nigeria Limited commemorated its 28 years of business in Nigeria in 2022, a momentous occasion in its history.

Oando Energy Resources

One of the top producers and explorators of oil and gas in Africa is Oando Energy Resources.

  1. 2014 saw the historic $1.5 billion purchase of ConocoPhillips’ Nigerian oil and gas company by Oando Energy Resources.
  2. Oil mining leases, oil processing facilities, gas processing facilities, and a power plant are all part of the company’s portfolio. 
  3. A prominent Nigerian energy firm listed on the Toronto Stock Exchange and the Nigerian Stock Exchange, Oando PLC is the parent company of Oando Energy Resources.
  4. The firm operates across a variety of assets, including oil mining leases, oil processing centers, gas processing facilities, and a power plant. It has a major position in Nigeria’s oil and gas industry.

 List of Oil Well Owners in Nigeria: Oando Energy

  1. The business has won several accolades for its sustainability and CSR initiatives, including the 2020 Nigeria Petroleum Industry Games’ “Best Company in CSR” title.
  2. The business has put in place some programs to empower women in the workforce and advance gender equality.
  3. Oando Energy Resources has launched many programs to encourage the growth of local content in the oil and gas sector. 
  4. The corporation has forged alliances with regional companies and associations to foster economic growth and employment generation inside the nation.
  5. Oando Energy Resources celebrated ten years of operations in Nigeria in 2022, which was a big turning point in the company’s history.

Seplat Energy Plc

Nigerian oil and gas exploration business Seplat Energy Plc, formerly known as Seplat Petroleum Development Business Plc, has many holdings in the Niger Delta region.

Listed in the Energy category on the Nigerian Stock Exchange, Seplat Energy Plc is an oil and gas exploration firm based in Nigeria that manages a portfolio of properties in the Niger Delta region.

Since its signing in February 2022, ExxonMobil and Seplat Energy have been waiting for regulatory permission to implement the divestiture. Head office located in Lagos, Nigeria; – Listed on the London Stock Exchange and the Nigerian Stock Exchange

Its vision is to deliver sustainable energy solutions for society. Its values are safety, integrity, partnership, innovation, and efficiency. The operations include upstream and midstream gas assets, new energy, and future markets. 

Aiteo Eastern E&P Company Limited

The biggest privately held integrated energy firm in Africa, Aiteo, is the parent company of Aiteo Eastern E&P firm Limited.

Headquarter: Maitama, Abuja; 11A, Pope John Paul II Street

Main Principal: Victor Okoronkwo; Industry: Oil and gas exploration, mining support operations. Established in 2013. Operator of the NNPC/AITEO Joint Venture encompassing OML 29. Currently running the Nembe, Santa Barbara, and Odeama Flow stations.

Focusing on the exploration, production, and development of oil and gas assets. Aiteo Eastern E&P Company Limited is a prominent participant in Nigeria’s oil and gas sector.

One of Nigeria’s biggest oil blocks, OML 29 belongs to the business and has a daily production potential of 160,000 barrels of oil.

Aiteo Eastern E&P has put in place many measures to boost overall performance, save expenses, and increase efficiency in its operations.

Aiteo Eastern E&P celebrated nine years of operation in Nigeria in 2022, a momentous occasion in the company’s history.

Conclusion

Nigeria’s oil and gas sector is a big one that makes a big economic contribution to the nation. Different participants, such as foreign oil firms, domestic businesses, and government-owned organizations, define the sector. The Nigerian well owners’ list consists of:

  • Eni Nigeria
  • Nigerian Addax Petroleum Company
  • Aiteo Eastern E&P Company Limited
  • Seplat Energy Plc
  • Oando Energy Resources

These businesses are essential to Nigeria’s exploration, extraction, and exploitation of its oil and gas resources. They have contributed to the nation’s production of gas and oil by making large investments in the sector. Nevertheless, the sector also has to deal with issues including neighborhood discontent, environmental deterioration, and regulatory barriers. 

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