Background
LEKOIL Nigeria is an Africa-focused oil and gas exploration and production company with interests in Nigeria. We are headquartered in Lagos with field and operations locations in Rivers State. The attributes that make LEKOIL Nigeria structurally, financially and technically sound are the attributes helping us shape the future of oil exploration in Africa.
Capital market access
On 17 May 2013, LEKOIL Nigeria through its affiliate Lekoil Limited successfully listed on the AIM market of the London Stock Exchange with a US$50m fundraising, a record sum for a new entrant E&P company on AIM that year. Since then, Wood Mackenzie has ranked the Ogo discovery in OPL 310 as one of 2013’s largest discoveries in the world, and we have completed the successful acquisition of the Otakikpo Marginal Field, with production now underway.
Technical and operational competence
A hugely experienced technical management team combines local knowledge with deep expertise in exploration, production and geophysics in Nigeria as well as elsewhere in Africa. The team’s work has helped identify reserves well above previous estimates. The continuing application of expertise and the latest technology will help us ensure we deliver on the potential of those reserves, and find new opportunities. For example, Otakikpo was brought from a green field project to production in less than three years and production has been steady over the last three years of c.6,000 bopd with no detrimental environmental impact or Lost Time Incidents (LTI).
Indigenous profile
Our indigenous experience gives us a competitive advantage in oil exploration and production in Nigeria and more widely across Africa. It helps us understand the operational, regulatory, environmental and security issues that drive successful operations in Africa. It helps us benefit from advantageous fiscal terms for local indigenous companies. Our indigenous experience means we possess extensive government and industry relationships that help us realise our goals.
