For the 2nd Consecutive year, Niger Delta Exploration & Production PLC (NDEP Plc) has been ranked Number 1 amongst the Nigerian Independents (Indies): The Talented Tenth Annual 2022 Edition, an informal ranking of the top 10 progressive, indigenous Nigerian E&P Independents by the esteemed industry publication, Africa Oil + Gas Report.
The NDEP Group of companies is made up of NDEP Plc (the parent company) and several subsidiaries including Niger Delta Petroleum Resources Limited (NDPR), ND Gas Limited (ND Gas) and ND Refineries Limited (ND Refineries) among others. NDEP retained lead position, for the second consecutive year, among indigenous Nigerian E&P Independents, based on several key considerations included in the report.
Among these key factors are NDEP’s strong financial and operational performance, the Company’s commitment to drilling campaigns to maximise production, the Company’s majority Stake in its affiliate, ND Western Limited and its Pan African credentials through its collaboration with the Nile Petroleum Corporation (NilePet) of South Sudan which resulted in the incorporation of Nile Delta Petroleum Company Limited, a jointly owned company presently undertaking technical services and production optimisation in South Sudan.
NDEP was also commended for the longstanding production history and commitment to the host communities of its upstream subsidiary, NDPR as it was for its fully integrated status. According to the article, while diversification has been trending among Nigerian E&P companies, “NDEP has been an integrated energy player for the last 10 years and remains the most diversified among Nigeria’s independents”, with detailed updates on NDEP’s gas processing (through ND Gas) and refinery operations (through ND Refineries).
The 100mmscf/d Gas Processing Plant at the Company’s facility at Ogbele has delivered gas to the Bonny NLNG Plant since 2012. ND Gas has started acquiring additional capacity, with a Final Investment Decision (FID) to increase capacity to 400mmscf/d taken to position Ogbele as an emerging gas processing hub in the Eastern Niger Delta Region.
The Ogbele Refinery Expansion Project remains a critical investment for the Company, with increased processing capacity from a 1,000 bbls/d single product plant to an 11,000 bbl/d plant producing Diesel, Marine Diesel, Dual Purpose Kerosene (DPK), Naphtha and Heavy Fuel Oil (HFO). As part of its future aspirations, additional expansion is ongoing to introduce a fourth plant of the refinery – a reformer unit to further refine produced Naphtha to Gasoline (PMS) for the domestic market.
Also recognised was NDEP’s commitment to robust corporate governance with ‘regular, annual, well attended General Meetings’ highlighted. Additionally, in meeting the very stringent requirements for obtaining a licence to store and export Naptha, the Company has helped improve the local refining ecosystem. In concluding, the report acknowledged NDEP as a “smart, highly technically resourced Company that is continually looking forward”.
Commenting on the achievement, NDEP CEO, Mr ‘Gbite Falade said, ‘We are delighted to be ranked the number 1 Independent for the second year running. The Report, which carefully considered the past, present and future aspirations of the Company, clearly recognised the tremendous work that NDEP is doing through its subsidiaries, even in challenging circumstances as seen in 2021-2022. As NDEP realises its vision to deliver sustainable energy solutions to support economic growth, we are sure that the best is yet to come.’
The Talented Tenth Annual, which is now in its 5th edition, is where the Editors of the Africa Oil + Gas Report publish the efforts of Nigerian indies, who show the most willingness and ability to grow, who are keen on operatorship and not content to be mere partners.