SAPETRO To Broaden Nigerian Oil Production With Partnership Deals At AEW
Nigerian oil and gas company South Atlantic Petroleum (SAPETRO), is seeking broader partnerships to support its investment strategies towards boosting Nigerian oil production.
To achieve this the Company has joined the African Energy Week (AEW): Invest in African Energies conference – taking place September 29 to October 3 – as a Bronze Partner.
With a focus on driving exploration, development and appraisal projects across underexplored territories, SAPETRO is making strides towards boosting Nigerian oil production.
The company’s AEW: Invest in African Energies partnership reflects its broader commitment to expanding its exploration portfolio in Africa.
SAPETRO currently holds approximately 74,890 km² of net acreage and produces oil from deepwater assets in close collaboration with international partners.
The company has a 15 per cent stake in OML 130 operated by energy major TotalEnergies which features the Akpo and Egina developments.
The Akpo field situated 175 km from Port Harcourt in water depths of 1,100-1,300 m comprises two primary fields, the Akpo main and Akpo west fields. Akpo main has been developed with 50 wells while Akpo west features three wells. The project harness resources from the fields through an FPSO, with natural gas transported via 150 km of pipelines to the Amenam/Kpono platform for delivery to the Bonny LNG plant.
Beyond Akpo, SAPETRO produces hydrocarbons from the Egina development. Situated 150 km off the coast and southwest of the Akpo field, the Egina project features 44 subsea wells connected to an FPSO facility.
Also operated by TotalEnergies and developed in collaboration with SAPETRO, the Nigerian National Petroleum Company, China National Offshore Oil Corporation and Prime 130, the Egina project has a capacity of 200,000 barrels per day.
The project accounts for approximately 10% of Nigeria’s total oil production and represents one of the first oil projects in the country to achieve zero routing flaring. This is largely attributed to the gas compression system installed at the field, with associated gas compressed and transported to the Nigeria LNG plant.
The success of these projects underscores SAPETRO’s ability to work with international partners to monetize ultra-Deepwater oil and gas resources in Nigeria.
As some of the country’s deepest offshore projects, the OML 130 developments have set a strong benchmark for other projects while showcasing the level of opportunity that lies in the country’s Deepwater acreage.
Looking ahead, SAPETRO has committed to pursuing new exploration, development and appraisal opportunities – looking beyond Nigeria’s borders to other promising markets in West Africa.
As the largest event of its kind on the continent, AEW: Invest in African Energies 2025 provides a strategic pathway for companies such as SAPETRO to gain access to such opportunities.
“SAPETRO is an example of a Nigerian oil and gas company driven by a clear vision. With a focus on deepwater acreage, the company works with partners to harness offshore resources, generate revenue and drive economic development in Nigeria,” states Tomás Gerbasio, VP of Commercial and Strategic Engagement, African Energy Chamber.
Uniting the entire energy sector and its value chain in Cape Town, AEW: Invest in African Energies 2025 takes place under a mandate to make energy poverty history by 2030, providing a platform for collaboration, engagement and deal-signing. As SAPETRO pursues new investment opportunities, the event will support these efforts by connecting the company to African policymakers, global partners and future block prospects.
AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy