KEY POINTS
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The first oil at Ibom Field strengthens Nigeria’s upstream supply.
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Emadeb plans more wells to scale Ibom Field output by 2026.
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Investment in the first oil at Ibom Field highlights local operators’ growing capacity.
Emadeb Petroleum Exploration & Production Company Limited has commenced oil production from the Ibom Field, enhancing momentum in Nigeria’s upstream sector and indicating the expanding influence of domestic operators. The firm, led by Nigerian energy entrepreneur Adebowale Olujimi, announced the commencement of production following years of developmental efforts and significant financial investment to operationalize the asset commercially.
First oil at Ibom field
The offshore field is located approximately 30 kilometers from the coast and was initially discovered in 1979. It encompasses an estimated 103 million barrels of oil in situ. Emadeb acquired the asset in the 2020 Marginal Field Bid Round and has subsequently invested over $100 million into a development program sanctioned by the Nigerian Upstream Petroleum Regulatory Commission in late 2024. The corporation stated that the project was implemented in stages to control capital expenditure while establishing the technical infrastructure required to achieve first oil production.
Olujimi stated that the accomplishment signifies the company’s strategic objective to enhance its status as a fully integrated operator capable of competing throughout the value chain. He stated that Emadeb relied on a combination of engineering efforts, sustained investment, and collaboration with authorities to transition the sector from acquisition to production. He asserts that the commencement of production aligns with Nigeria’s overarching objective of enhancing energy supply, increasing local content, and providing greater chances for regional employment.
Ibom field expansion plans
Emadeb anticipates that the forthcoming phase of operations at Ibom will entail the drilling of two additional wells. The expansion is scheduled for completion by the fourth quarter of 2026 and is anticipated to quadruple current production once the wells become operational. According to billionaire Africa, Olujimi stated that the corporation is emphasizing operational discipline while concurrently stressing environmental stewardship and community participation related to the project area.
Established in 2007 and operational since 2008, Emadeb has developed a portfolio encompassing exploration, crude storage, product distribution, retail, LNG sales, and lubricants. In the last fifteen years, it has expanded in tandem with Nigeria’s energy demand and adapted its approach to align with changes in the nation’s regulatory and economic environment. Under Olujimi’s direction, the organization progressed through downstream milestones prior to expanding into upstream development. He has advocated for enhanced governance, transparent operations, and consistent collaboration with stakeholders as Emadeb endeavors to broaden its presence as a domestic actor in the industry.
