Prior to 1991, there was no publically owned, indigenous and Independent oil producing Company operating in Nigeria.
To fill this gap, NDEP’s founding Chairman, Late Chief Godwin Aret Adams, former Group Managing Director of the Nigerian
National Petroleum Corporation (NNPC), and other highly talented professionals, including the present Managing Director, Dr
‘Layi Fatona, Chief David Richards, Dr Imo Itsueli, Mr John Jones and Mr Sammy Olagbaju, came together via the platform of
their respective companies, to initiate a truly indigenous public oil company.
Incorporated in 1992, NDEP was founded on this vision, to be a leading locally owned and locally funded investment
company, providing Nigerians with access to the country’s most strategic sector – the oil and gas industry.
NDEP recognised and exploited its niche – to use its skilled team and nimble operations to pioneer the development of
small and medium sized oil and gas fields in Nigeria.
Thus, the vision of late Chief Aret Adams has been realised. NDEP is a leading Oil and Gas investment company and with its
fully owned subsidiary (NDPR), remains Nigeria’s foremost indigenous and independent operator of small to medium sized
fields.
Corporate Milestones
NDEP is an innovative company that constantly seeks to maximise its operations and production to create and increase
value. NDEP prides itself on its many milestones:
- 1996 Fully negotiated the 1st commercial Farm-Out Agreement in Nigeria
- 1997 Host Community Development Trust was established
- 2000 The first Company in Nigeria to successfully implement a Farm-Out Agreement
- 2005 The first crude sale was recorded with 50,000 bbls off-take by Shell Western Trading
and Supply
- 2005 Ogbele Well #1 successfully re-entered and completed
- 2005 1st oil production into the SPDC Terminal at Bonny
- 2006 Ogbele Well #2 successfully re-entered and completed
- 2007 The Company attains its first 1 million bbls of oil production
- 2008 Ogbele Well #3 successfully drilled and completed
- 2008 Ogbele Well #4 successfully drilled and completed
- 2009 Added 13.74 million barrels of proven reserves
- 2009 Ogbele Well #5 successfully drilled and completed
- 2010 Attained cumulative net oil production of 5 million bbls
- 2010 Completed pioneering Gas Purchase Agreement (GPA) with the NNPC/Shell JV
- 2010 Successful installation of 1000 bpd diesel Topping Plant
- 2010 5 years of continuous and uninterrupted oil production
