NDEP Plc Crowned No. 1: Nigerian Indies: The Talented Tenth Annual 2020

NDEP Plc has been crowned Number 1 amongst the Nigerian Independents (Indies): The Talented Tenth Annual 2020 edition, an informal ranking of the top 10 progressive, indigenous Nigerian E&P Independents by the esteemed industry publication, Africa Oil+Gas Report.

NDEP took the lead position in 2020 based on a range of factors, including its unique integrated status, the impact of its Refinery Expansion Project, the commitment to increasing production while maintaining cordial community relations and delivering optimal value to shareholders. Also highlighted was the Company’s majority Stake in its affiliate, ND Western and its Pan African credentials with the Nile Petroleum (NilePet) South Sudan Joint Venture and ongoing new acreage acquisition discussions with the Government of Mozambique.

The Report stated that through its operating arm, Niger Delta Petroleum Resources Ltd (NDPR), NDEP ‘Remains the most integrated energy player among Nigeria’s Independents, with crude oil output, a gas processing plant and a Refinery set to deliver Premium Motor Spirit (PMS) by Q2 2021’ and that NDEP is a ‘smart, highly technical resourced Company that is continually looking forward.’

The Ogbele Refinery Expansion Project remains a valuable investment for the Company, with increased processing capacity from 1000 bbls/d to 11,000 bbl/d to produce Diesel, Marine Diesel, Dual Purpose Kerosene (DPK), Naphtha and Heavy Fuel Oil (HFO). The first phase of 5, 000 bbl/s has already been completed and a License to Operate (LTO) has been issued by the DPR.

The 100M Scf Gas Processing Plant at NDPR’s facility at Ogbele has been delivering gas to the Bonny NLNG Plant since 2012. NDPR has started acquiring additional capacity, with a Final Investment Decision (FID) to increase capacity to 400MM S cf/d already taken. The aim is to position Ogbele as an emerging gas processing hub in the Eastern Niger Delta Region.
Additionally, NDPR Ltd has increased production, from 6,500bbls/d to 9,000 bbls/d and further to an impressive 12,000 bbls/d, which was capped in order to comply with Opec+ production quotas.

Also receiving a mention is NDPR’s Host Community & Environment Trust, which is voluntarily funded by 5% of the Company’s net annual profits, and managed by the host communities, which Africa Oil+Gas Report describes as one of the ‘most generous partnerships that any Nigerian Independent has initiated with its neighbouring constituents.’
Commenting on the achievement, Dr Fatona said, ‘It is encouraging to receive this news at the start of a New Year. Being crowned number 1 is no small feat and I appreciate the entire Staff, Management and Board of NDEP for their collective efforts and commitment, in what has been a challenging period.’

Africa Oil+Gas Report understands a continuous evaluation of the context of growth and challenges of the Nigerian Independent provides a clear line of sight to opportunities for investment in Africa’s hydrocarbon properties.
The Talented Annual Tenth, in its 4th edition, is a rough but intelligible ranking of the top 10 progressive, indigenous Nigerian E&P Independents. It commends the efforts of the Independents to show the most willingness and ability to grow, who are keen on operatorship and not content to be mere partners, and those firms whose choice of projects help catalyse the industrial economy.

To read the full article, please use this link:
http://ngdelta.com/wp-content/uploads/2021/01/Companies-To-Watch-2020-2025.pdf

Posted in: