The Nembe Exploration and Production Company Limited (AEEPCo), the main subsidiary of Aiteo group, says it has recorded an outstanding production growth, with output increasing from 25 thousand barrels per day to about 90 thousand bpd in a little over a year from its Oil Mining Lease. OML 29.
A statement by the Group Head, Media Operations, Strategic Communications and Events, Mr. Ndiana-Abasi Matthew on behalf of the Group Managing Director, Nembe Exploration and Production Company Limited (AEEPCo), Victor Okoronkwo says Nembe E&P is the operator of OML 29, the largest onshore block in Sub Saharan Africa with an area extent of 990 square-Kilometers, which is an NNPC-Aiteo Joint Venture.
It also operates the 97-Kilometre Nembe Creek Trunk Line (NCTL), which serves as an industry-wide evacuation pipeline for produced fluids from flow stations in Bayelsa to the Bonny Terminal in the Eastern Delta region of Nigeria.
The statement further explains that following its acquisition of OML 29, the company has been instrumental to the growth of the local sector by constantly ensuring availability of premium-grade refined products nationwide to meet the energy requirements of Nigeria’s growing population.
It further points out that Operating on 6 AGG compressors, Nembe E&P currently produces significant amount of liquified natural gas and liquified petroleum from gas reserves at OML 29 and has an agreed Joint Venture investment plan which will increase oil production levels above 150,000 bpd and gas utilization of more than 200 million standard cubic feet , (Mmscf) per day which will make Nembe E&P a major independent gas producer in Nigeria.
As a result of these, Nembe E & P Company Limited, formerly known as Aiteo Eastern E&P Company Limited’s outstanding performance in the industry and its commitment to social development and sustainability has attracted several awards and recognitions from reputable organisations over time.
The company has received the following awards; Independent Company of The Year – Sub Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) Awards in 2024, Upstream Company of the Year 2019 – BusinessDay Newspapers Awards in 2019, Oil and Gas CSR/Sustainability Company of the Year (Upstream) – The Guardian Newspaper, Oil and Gas Company of the Year (Upstream Indigenous) – The Guardian Newspaper, Oil and Gas CEO of the Year (Upstream Indigenous) – The Guardian Newspaper in 2018
Others are Company of the Year – New Telegraph Newspaper, Company of the Year – Leadership Newspaper, Company of the Year – Business Day Newspaper,Indigenous Company of the Year Award – Nigeria Oil & Gas Summit / CWC and Oil Industry Leadership Award – Petroleum Technology Association of Nigeria, PETAN / OTC in 2017.
Meanwhile, The Nembe Exploration & Production CompanyLtd. (Nembe E&P), operator of Sub-Saharan Africa’s largest onshore oil asset OML 29 has unveiled an audacious growth strategy, targeting a crude oil production ramp-up to 200,000 barrels per day and 250 million standard cubic feet per day of gas.
Group Managing Director, Victor Okoronkwo, affirmed Nembe E&Ps transformation into a resilient, integrated energy company grounded in indigenous excellence, performance discipline, and climate-aware infrastructure planning.
Its OML 29 has 1.7 billion barrels and 2.9 trillion Cubic Feet, Tcf, of remaining gas reserves and has Gas Monetization from 17 new wells, 25 workovers, LNG processing and export-ready infrastructure, as the 97km Nembe Creek Trunk Line and new pipelines are to unlock stranded volumes with a commitment to full de-carbonization roadmap aligned with Net Zero 2060 and UPDT mandates.
“Our development strategy is not just about scale, it’s about sustainability, sovereignty, and smart execution, ” Okonkwo asserts.
The Group Managing Director, Nembe E&P, Victor Okoronkwo, notes that from asset revitalization to infrastructure renewal, Nigeria’s Nembe Exploration & Production is repositioning as a gas-first upstream powerhouse—without external fanfare but with internal discipline and national ambition.
At the heart of Nigeria’s energy awakening stands a quietly determined player: Nembe E&P. Operating Oil Mining Lease 29—widely recognized as Sub-Saharan Africa’s most strategic onshore block—this indigenous firm is moving decisively to scale output, unlock reserves, and modernize infrastructure across the Niger Delta basin.
Group Managing Director Victor Okoronkwo shared Nembe’s updated strategy at the Nigeria Oil & Gas Week 2025, citing targets of 200,000 barrels per day and 250 million standard cubic feet per day of gas, enabled by a cluster-based development model, a new CPF (Central Processing Facility), and optimized pipeline and flare-out solutions.
Nembe E&P controls the 97km Nembe Creek Trunk Line (NCTL), offering a rare advantage in crude evacuation. Alongside this, the company is scaling work overs, deploying 17 new wells, and operationalizing its CPF by Q3 2025—all while implementing a comprehensive gas monetization and ESG compliance program in line with Nigeria’s Net Zero targets.
Incorporating solar pilots, AGG compressors, and methane reduction audits, Nembe’s gas-forward strategy mirrors Nigeria’s own energy transition roadmap. As global capital increasingly favours cleaner molecules, Nembe’s strategy could serve as a regional blueprint for low-carbon, high-impact growth.
“We are building Africa’s next great energy company—decarbonized, de-risked, and indigenously led,” said Okoronkwo. “Our targets are bold, but so is our belief in Nigeria’s future”, the GMD states.
SOURCE: Alambo Datonye, FRCN, Bayelsa.
