NDEP CELEBRATES 15TH ANNIVERSARY OF FIRST OIL FROM ITS OGBELE FIELD

Niger Delta Exploration & Production Plc. the pioneer of indigenous Upstream Oil & Gas production in the country, on Friday, August 28th, 2020, celebrated the 15th anniversary of achieving first Oil from its Ogbele Marginal field in Rivers State.

The Virtual Event, attended by some 150 participants including former Directors, Staff (past and current), Community Stakeholders and friends of the Company, featured reminiscences about the early years of the Company’s operations and the events leading to attainment of 1st Oil production from its Ogbele marginal field.

The Managing Director, Dr. ‘Layi Fatona, who spoke at the event, recounted the considerable challenges encountered by the Company in its quest to pioneer indigenous Upstream activities in Nigeria through the Ogbele Marginal oil field development. He recognized the ultimate success as a result of the collective support and tireless efforts of its various stakeholders.

“It is a milestone I am proud of, such as we achieved together as a company”, he said, “We did not get here by chance. We got here because we believed it could be done. We shared the common dreams that first, an indigenous oil company was possible. Next, we put in much work to make it happen.’

Since that first production of crude oil from its Ogbele field in 2005, NDEP has evolved into a foremost integrated Energy Company that has pioneered the development of marginal fields in the Country and has exhibited professionalism in all its operations.

A former Chairman of the Board of Directors of the Company, Ogbueshi Ben Osuno, in his remarks, recalled some of the key challenges NDEP faced at the inception of operations which included securing Presidential approval to operate the field, attracting investors to fund the field development project as well as ‘’getting a drilling company to work with us, even after agreeing to pay a higher sum for the job”.

He said NDEP “is seen as a major accomplishment because we have grown from being a single well company into a crude oil and gas producing, processing, refining and exporting company.”

Another former Chairman of the Company’s Board of Directors, Mr. Goodie Ibru, who also spoke at the event, congratulated the current Chairman of the Board of NDEP, Mr. Ladi Jadesimi, the MD, and the other Directors, Management and Staff of the Company for its successes to date.

“The remarkable thing about NDEP,” Mr. Ibru said, “is that it is not just producing crude oil and exporting, it is adding value to the Nigerian Economy. It has become an integrated oil and gas company. It has a mini refinery; it has a gas plant, and this translates to the creation of job opportunities for the youths”.

 “It’s doing a lot to create opportunities for young people, creating wealth and also keeping part of the wealth within the country instead of just sending crude oil abroad and importing refined products”, he concluded.  

Commending the company for its contributions towards the development of their Host communities, a community leader, Dr. Kipoye Gogo from Otari Host Community, said three key factors were responsible for the harmonious relationship NDEP had enjoyed with its Host Communities- fulfilled promises by the Company, commitment to agreements and accessibility.

Another Community leader, Mr. Napoleon Ukalikpe, said Niger Delta Petroleum Resources (NDPR), an NDEP subsidiary, “employs our youths in Ogbele community, they have built schools, sank boreholes and provided electricity to our communities and they are still doing more today as we speak. “

Various speakers at the event extolled the pioneering roles of one of the company’s Founders and former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), the late Chief Aret Adams, in the founding and successful take-off of the NDEP.

Since the first production of crude oil from its Ogbele Marginal field in 2005, NDEP has since recovered over 19 million barrels, and over 90 billion Standard cubic feet (B Scf) of gas. The company has also evolved into a foremost integrated Energy Company with thriving interests in various aspects of Nigeria’s Oil & Gas value chain and in emerging business operations and opportunities in other African countries including South Sudan.

About NDEP

Niger Delta Exploration & Production Plc (NDEP) is a foremost Independent integrated Energy Company. Incorporated on March 25, 1992 (as the Midas Drilling Fund) it assumed its current name in November 1996. The Company offer its shareholders, investment opportunities in   exploration, production and development of oil and natural gas. It invests also in downstream and midstream assets. The company achieved first oil production from its flagship asset – The Ogbele marginal Field on August 28th 2005, and has successfully produced crude oil from more than ten wells it had drilled so far. Today NDEP is a leading Energy Investment Company, with its fully owned subsidiary (NDPR), the company remains Nigeria’s foremost indigenous and independent operator of small to medium sized fields.

For more information visit: www.ngdelta.com

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