Nembe E&P working to unlock and secure Africa’s vast energy potential
In an exclusive interview ahead of NOG Energy Week, Victor Okoronkwo, Group Managing Director of Nembe E&P Company Ltd, spoke to Energy Connects about the opportunities and challenges facing Africa’s energy sector amidst a complex and fast-evolving landscape, how the flagship upstream subsidiary of the Aiteo Group is advancing a progressive energy future for Africa and beyond, and why NOG Energy Week is at the heart of accelerating energy transformation across Africa.
Could you tell us more about your company and its roadmap to a progressive energy future? Please share some recent milestones.
Thank you, Chiranjib. Nembe Exploration & Production Company is the flagship upstream subsidiary of the Aiteo Group and the Operator of the OML29 Asset and the over 110km, 600Kbbl/d capacity Nembe Creek Truckline (NCTL).
The Aiteo group acquired the 45% private interests of Shell, Total and Agip on the block and the trunkline. The acquisition was through Aiteo Eastern E&P Ltd, renamed this year to Nembe E&P Ltd. At the takeover of operations of the assets, we were able to quickly ramp up production from less than 25kboe/d to over 90Kboe/d in less than one year. However, our growth was severely impacted and truncated by the incessant oil theft and facility vandalisation resulting to over 90% production loss. This unsustainable loss magnitude became an existential threat leading to completed cessation of production for over 18 months.
We therefore had to re-strategise and changed our operating model to secure our production in order to protect value for the joint venture and the nation at large. We went into strategic partnership with the Nembe Crude Oil Export Terminal who invested in and set up an alternative evacuation system for us. This new evacuation system comprising an FSO of 2Mbbl capacity offshore terminal and a fleet of five 38Kbbl capacity shuttle vessels, a temporary CPF complete with all other necessary ancillary equipment. A permanent CPF and underwater pipeline are currently under construction to provide a permanent solution and give impetus to our production growth aspirations.
Our next phase involves scaling up oil production to 150,000 bpd and gas utilisation to over 200 million scf/day, positioning us as one of Nigeria’s leading independent oil and gas producers, a position we currently enjoy. We are investing in other frontier energy infrastructure like, refining, natural gas utilisation, and so on, all designed to secure Nigeria’s energy future.
What are the opportunities and challenges facing Africa’s energy sector in today’s fast-evolving landscape?
Africa is at multiple dynamic crossroads, though richly endowed with abundant hydrocarbon and mineral resources, Africa still faces the energy trilemma of availability, affordability and sustainability. There is also the challenge of inadequate and obsolete infrastructure, regulatory inconsistency, access to capital, internal security and community disruptions issues and many others. Climate change policies add another layer of complexity, in balancing the urgent need for cleaner energy, while ensuring energy affordability and security.
With digitisation and the emergence of Artificial Intelligence, Electric Vehicles, global electricity demands are at all-time high. This provides an enormous opportunity for Africa to leverage her natural abundant natural resources to pull people out of poverty and to actively participate in the emerging digital economy.
To unlock Africa’s potential therefore, collaboration across sectors and governments is a necessity, public and private stakeholders must collaborate to develop a cocktail of financing options for energy projects, adopt fit for purpose and best-in-class energy model with variable mix, empower local communities whilst providing sustainable development frameworks.
How critical is an event like NOG Energy Week to accelerating energy transformation across Africa?
NOG Energy Week has come to stay as an important week in the African oil and gas calendar. It provides a veritable environment for cross border collaboration and is more than just an event. NOG Energy Week is a crucial forum that brings together executives, regulators, financiers, technologists, and policymakers in one space, in one week to share knowledge, make deals aimed at accelerating the African energy transformation journey.
The strategic conference, the technical seminars, the leadership roundtable discussions bring diverse perspectives to issues affecting energy transition and transformation withiin Africa. The exhibition platform of NOG Energy Week is probably the single largest platform in the continent, that brings African and international energy companies to showcase and market their capabilities. This is why we are proud to be associated with NOG. This year we are exceptionally excited to future as a platinum sponsor under our new banner, Nembe Exploration and Production Company Limited. NOG Energy Week has now become the one stop shop for Africa discussions and dialogue.
What are you looking forward to at NOG Energy Week this year?
I am looking forward to use this opportunity to showcase our new company name, Nembe E&P Ltd, to share best practices amongst the indigenous players, and the professional and business interactions that NOG presents.
Looking Ahead
As a leading indigenous E&P company in Nigeria, Nembe E&P is committed to raising production capacity, enhancing gas monetisation, and providing dependable, sustainable energy to power Africa’s future. Events like NOG Energy Week sharpen our focus, expand our collaboration horizons, and reinforce our belief in Africa’s vast potential.
NOG Energy Week is the official meeting place for the global energy sector in Sub-Saharan Africa, taking place 29 June - 3 July 2025 at the International Conference Centre, Abuja. Click here to book your delegate pass for NOG Energy Week.
