Our Portfolio

With the future of energy focused on green and clean energy, our ambition is to be positioned in readiness as a solution provider for energy needs.

Our ambition is to consistently retain a balanced upstream portfolio which includes assets that shall generate sufficient cash-flow and financial stability for a relatively young E&P company, but also provides upside through our exploration efforts. This is anchored in the acquisitions of:

40%

Working interest in (and operatorship of) OML 83 and OML 85 (assets divested by Chevron in 2015)

10%

of ND Western’s 45% working interest in OML 34 (a producing asset divested by the SPDC/TEPNG/NAOC JV in 2012)

15%

of West African Exploration and Production Company Limited’s 45% working interest in OML 71 and OML 72 (assets divested by the SPDC/TEPNG/NAOC JV in 2015)

10%

of Twister B.V. (a gas processing technology company) based in The Netherlands in a partnership with Dangote Industries Limited (2016)

10%

interest in a joint venture with Dangote Industries Limited to build the East-West Offshore Gas Gathering System – EWOGGS – pipeline

In all our licenses (OMLs), NNPC (Nigerian National Petroleum Corporation) is our senior partner.

We also have a mix of development and appraisal asset opportunities where FIRST E&P can materially create sustainable value and unlock upside potential. With the future of energy focused on green and clean energy, our ambition is to be positioned in readiness as a solution provider for energy needs. Examples are our acquisition in Twister BV which leverages zero emission gas processing technology and the fact that despite having a material operated production, our footprint in the shallow offshore is remarkably small.

The continuous expansion of our portfolio will include niche range of exploration plays that can offer significant appraisal and development opportunities that fill our maturation funnel in the future.

We are encouraged and proud of the progress we are making with our recognition by the Federal Ministry of Petroleum Resources as the ‘Most Compliant Nigeria Content Oil Company’ and are excited about the future of our company.

We truly enjoy our collaborative relationship with our host communities in Bayelsa State and take great satisfaction in their economic development.

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Our focus is to ensure we provide significant and viable contributions to energy needs and security locally and globally.

The Abigail-Joseph FPSO is a self-propelled, converted Suezmax trading tanker with 11 cargo storage tanks, 2 slop tanks and 6 dedicated water ballast tanks.

We have embarked on certain sectors which have been identified as the ones with long-term impact.

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