Niger Delta Exploration & Production Plc (NDEP) originally registered as Midas Exploration & Drilling Fund Plc was incorporated as a public limited liability company in 1992. In 1996, its name was changed to Niger Delta Exploration & Production Plc to reflect the company’s principal operational activities in the Niger Delta region.
Although NDEP is a public company, it is not yet listed on the Nigerian Stock Exchange. The eventual listing of the company’s shares is planned for in the near future.
Niger Delta Petroleum Resources Limited (NDPR) - is the operator of the Ogbele Joint Venture created prior to a Farm-out Agreement dated 7 August 2000 involving the Farm-Out Area of the Ogbele Field, located in the NNPC/Chevron Joint Venture’s OML 54.
ND Gas Development Company Limited - a wholly owned subsidiary, was established to pursue investment opportunities in the gas sector and ND Properties Limited, also a wholly owned subsidiary, was established to pursue NDEP’s property interests.
Pioneering the Development of Marginal Fields
The Niger Delta oil-producing region is characterized by many non-producing oil and gas assets, which are considered too small and thus not desirable enough to be considered economically viable investments by larger operating companies.
In our attempt to take advantage of these development opportunities, NDEP, through its operating company, NDPR, has taken the initiative to set up a tight knit, highly skilled team of exploration and production professionals. Backed by robust funding and an experienced management team, NDEP has been the pioneering force in the successful acquisition of these highly profitable smaller assets in Nigeria.
Although we had identified several dormant marginal field assets within the portfolios of many multinational oil companies, we saw Chevron Nigeria Limited as a company, which shared our desire and vision to implement new operational models providing a sustained and profitable revenue from these dormant oil assets. In 1996, a Farm-Out Agreement was negotiated purely on commercial terms, the first of such in Nigeria, between NDPR and the NNPC/Chevron JV. In 2000, the Farm-Out Agreement was executed for the assignment of the Ogbele Field in OML 54 and the right of first refusal on the Omerelu Field, in OML 53.
This agreement was the first of such in the history of the Nigerian petroleum industry, in effect making NDEP the pioneering force in the independent acquisition of marginal oil field assets [by home grown Nigerian Oil companies].
As part of our aim to sustainably develop and capture maximum value from the oil and gas chain, NDEP, through its operating company, NDPR, also engages in the following:
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Realising Gas Potential
NDEP through its operating subsidiary is harnessing the gas resources in its first
producing field to derive maximum value from its operations. In addition, it aims at
full compliance to the Federal Government’s zero gas flaring policy ahead of the January 2012 deadline.
To this end, NDPR has invested in extensive gas processing infrastructure and concluded a
pioneering Gas Sales Agreement to formalize the supply of gas to the NLNG Train 6 at Bonny, Nigeria.
This agreement will allow NDEP to boost Nigeria’s gas conservation and utilization while also achieving
zero gas flare from its producing assets. To read more about the agreement, click here> [link to news section
of the site, press release on gas purchase agreement].
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Refining Capacity
To further increase NDEP’s resources and production, NDEP, through its operating company NDPR, will refine crude oil, through the installation of a 1000 bpd Diesel Topping Plant. The plant will come on stream by year-end, 2010.
This will promote more sustainable operations and reduce NDEP’s external dependency for its field operations.
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Building Local Capacity
As an indigenous operating Company, NDEP is a staunch supporter of local content
and has historically preferred the use of local service companies.
NDEP is committed to looking internally for its resources, which
is also reflected in NDEP’s staff hiring policy.
