Our Assets

As an independent player in the Energy industry, our focus is to ensure we provide significant and viable contributions to energy needs and security locally and globally.

A balanced portfolio of assets

We will leverage opportunities and maximise asset value with all existing and potential assets. Our Asset acquisition strategy is based on securing a balanced portfolio of assets and opportunities that enables the company to achieve its equity production and reserves aspirations in the short, medium, and long term.

We are focused on the shallow offshore. We have built proven capabilities in exploration, appraisal, development, drilling, construction, and operation of assets in the shallow offshore area, as evidenced by the Anyala/Madu project in OMLs 83 and 85.

Oil Mining Licenses (OMLs)

We have successfully secured specific interests in five Oil Mining Licenses, four of which are in the shallow offshore region of the Niger Delta Basin.

OML34

Land

OMLs 83 & 85

Shallow offshore

OMLs 71 & 72

Shallow offshore

Based on these acquisitions, we have established a strong foothold in the Shallow Offshore Niger Delta. We intend to strategically consolidate on these wins by ensuring our asset development plans, reserves addition strategy and portfolio growth plans are centred on the hubs defined by the locations of our existing assets and the trajectory of the EWOGGS pipeline.

Our portfolio consists of producing, near-term, development, and appraisal assets. We are also actively building up a ‘blue sky’ exploration portfolio that will be of interest to investors interested in the upstream business’s upside value.
See our Contact us page for interested investors

OML 34

In 2012, when the company was officially kickstarted, FIRST E&P acquired a 10% equity interest in ND Western Limited (NDW), which has a 45% interest in OML 34. The license is operated jointly by NDW and NPDC (Nigerian Petroleum Development Company). The acquisition in NDW provided FIRST E&P with immediate equity oil and gas production and the cash flow to invest in expanding its capabilities.

OML 34 is an onshore license block with four defined fields (Utorogu, Ughelli East, Ughelli West, and Warri River fields) and an extensive exploration scope with multiple prospects and leads across the block. The asset is strategic to Nigeria’s gas to power plan and currently delivers gas through Nigerian Gas Company to various power distribution companies and independent power plants.

The block has material upside potential and can realise production levels of 60,000 bbl/d oil and 600 mmscf/d gas based on the existing 2P reserves. The estimated HCIIP (Hydrocarbons Initially in Place) on the asset is 1,538MMstb (Million Stock Barrels) of oil and 8.057Tcf (Trillion Cubic Feet) of gas.

OMLs 83 & 85

FIRST E&P has a 40% working interest in OMLs 83 & 85 which are in the shallow waters of the Niger Delta in Nigeria. FIRST E&P is the operator of the two blocks, on behalf of the NNPC/FIRST E&P Joint Venture.

There are two main fields in OML 83 and 85: the Anyala and Madu fields. FIRST E&P commenced the green field development of those two fields with the acquisition of seismic across the licenses in 2018. The NNPC/FIRST E&P Joint Venture took Final Investment Decision (FID) in 2018 and commenced with drilling seven wells (eight strings) and the construction of two platforms. The Joint Venture leased an FPSO (Abigail Joseph) from Yinson. She was refurbished in record time in the Keppel shipyard in Singapore. The Joint Venture opted for Conductor Supported Platforms and splitter wellheads. This means that the footprint of the development is minimal. First oil commenced on 21st October 2020. The daily oil production is ramping up to 40,000 bbl/d by the end of Q1 2021, with a production plateau of 60,000 bbl/d in Q1 2022.

The two fields contain significant reserves and resources. The estimated HCIIP on the two fields is 581 MMstb of oil and 1.110Tcf of gas.

OMLs 71 & 72

FIRST E&P, in conjunction with Dangote Exploration Assets Limited and Dansa Energy Resources Limited (via a joint venture – West African Exploration and Production Company Limited (WAEP), acquired a 45% participating interest in OML 71 and OML 72 from Shell Petroleum and Development Company of Nigeria Limited, Total E&P Nigeria Limited, and Nigerian Agip Oil Company Limited (the ‘SPDC JV’). WAEP was appointed as the operator of the licenses. These licenses are located south of Bonny Island. There are seven discovered fields in OML 72: Kalaekule, KD, Koronama, Kugbe, KL, KQ, Kappa, while OML 71 has two main fields called KI and KI south.

Of all the fields, only Kalaekule has been developed under SPDC’s operatorship. The field was in production between 1986 and 2002 with average production of c.22,000 bbl/d and was shut-in by the SPDC JV in 2002 to allow for a planned refurbishment of the field facilities. The estimated HCIIP volume in OML-72 is 1,149MMstb of oil and 2.447Tcf of gas while OML 71 is estimated to have 158MMstb of oil and 1.4Tcf of gas, thus presenting an opportunity for significant oil and gas development.

Twister BV

FIRST E&P, in conjunction with Dangote Industries Limited, acquired Twister B.V. from Shell Technology Ventures Fund 1 B.V. Twister BV is a company based in The Netherlands and holds innovative (and proven) gas processing technology.

The technology is ideally suited for an offshore operation as it has no moving parts and does not need glycol for water extraction. It can therefore be operated in an unmanned manner, limiting the footprint of operations significantly. Moreover, as opposed to traditional technologies, it has zero emissions.

East-West Offshore Gas Gathering Pipeline System - (EWOGGS)

Dangote Industries Limited, in partnership with FIRST E&P, has embarked on an East-West Offshore Gas Gathering Pipeline System – (EWOGGS) project, which will transform Nigeria’s energy landscape. It is the single largest gas infrastructure investment in Nigeria’s history to benefit domestic gas demand.

EWOGGS is the single largest gas infrastructure investment in Nigeria's history to benefit domestic gas demand.

It connects the East’s gas resources with the domestic gas demand in the West through a 3Bcf/d open-access offshore gas pipeline system. The EWOGGS gas pipeline system will have provisions for seven offshore gas injection connection points and two offshore gas discharge connection points. This infrastructure will allow stranded assets along its trajectory to be developed as a gas monetisation route becomes available.

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Juliet Ehimuan

Non-Executive Director

Juliet Ehimuan is Director of Google in West Africa. She was named by Forbes as one of the top 20 power women in Africa, by the London Business School as one of 30 people changing the world; and featured in the BBC Africa Power Women series, and on CNN Innovate Africa.

With over 25 years experience primarily in Technology, Oil & Gas, and New Media industries across Europe, Middle East and Africa; Juliet is a leading voice on Innovation, Transformation, and Leadership. She has received numerous awards for outstanding contribution to the digital landscape in Africa. Under her leadership, the Google team has made a significant impact on local content development, infrastructure deployment, and digital capacity building.

Juliet has degrees from the London Business School, University of Cambridge; and Obafemi Awolowo University, Ile-Ife. She was awarded IT Personality of the Year in 2012 by the Nigeria Computer Society, Digital Personality of the year 2016 by Marketing World; and received a 2015 Titans of Technology award from TechnologyAfrica.

She is a member of the Forbes Coaches Council and recently published 30 Days of
Excellence, a leadership and effectiveness guide.