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Our strategy OLD

LEKOIL’s pan African strategy is focused on the Dahomey Basin, the Niger Delta and new basins that offer the scope for low cost entry but where the higher risks are balanced by potential higher returns.


We have sought to create a balanced portfolio of exploration and production assets which seeks to:

  • exploit overlooked opportunities in new and existing basins
  • benefit from advantageous fiscal terms to indigenous companies
  • develop and grow regional and intra-continental relationships
  • make full use of our strong technical team and industry relationships
  • take advantage of our strong relationships in investment markets internationally

Target Portfolio

Exploiting the 'Value Zone'

Growth strategy overview

Our shorter term objectives

  • Commence and grow production from Otakikpo Marginal field to 10,000 bopd.
  • Bring additional wells online and build new processing facility increasing production to 20,000 bopd at Otakikpo
  • Further appraisal of OPL 310.
  • Grow asset portfolio with value accretive acquisitions in line with corporate strategy.
  • Namibia: Historical data review prior to basin study and new data acquisition.
  • Build out Dahomey basin portfolio.

Our longer term objectives

  • Continue phased implementation of Otakikpo development.
  • Final Investment Decision for OPL 310.
  • Add other producing assets – (marginal fields/acquire economic IOCs divestments).
  • Pursue other opportunities in known basins.
  • Execute other studies and add high-impact, promising exploration plays.

Lower oil prices

We have prioritised the allocation of our capital to our production and development assets to generate short-term cashflow and compelling economic returns, focusing on extracting value from the ‘stability’ zone of our portfolio. This means limited expenditure on exploration assets but maintained optionality for the future.