Thursday, May 21, 2026
30.2 C
Lagos

Business

CIG Motors: Pay ₦3m For a Brand New Car in May Splash Promo on Electric, Petrol Vehicles

New campaign introduces EasyPay auto-financing, major discounts and nationwide...

Repton CEO Calls for Digital Skills Acquisition at Lagos Career Fair

Otunba Odeyeyiwa Kazeem Olayemi, GMD/CEO, Repton Group, Keynote Speaker...

Guinness Nigeria CEO Attributes Strong 2026 Start to Operational Efficiency, Localised Decision-Making

The Managing Director/CEO of Guinness Nigeria Plc, Girish Sharma...

P+ Beats Three Agencies to Win NSIA Media Intelligence Business

P + Measurement Services Limited - (P+) has won the...

Guinness Nigeria Sweeps 7th Edition of The Industry Awards, Named Most Outstanding Company in Sustainability

L-R: Olukemi Ogunsakin, Head, Corporate Communications, Sustainability & CSR,...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

NGX Shareholders Commend Leadership at 65th AGM, Seeks Continued Growth

Shareholders of Nigerian Exchange Group Plc (NGX Group) have...

NGX Group Commends Happy Woman Digital Platform Initiative, Seeks Partnership

Being text of the speech by Alhaji (Dr.) Umaru...

Nigeria’s Reforms Driving Strong Domestic Capital Mobilisation, Says NGX Group CEO

The Group Managing Director/Chief Executive Officer of Nigerian Exchange...

Insurance

Leadway Assurance Claims Payout of N137bn in 2025 Reinforces Market Leadership, Customer Trust

Against the backdrop of a challenging yet progressively stabilising...

AIICO Deepens Commitment to Education, Capacity Development with Upgrade of CIFM Learning Hall

AIICO Insurance Plc, one of Nigeria’s leading insurance and...

Heirs Insurance Group Named among Africa’s Fastest-Growing Companies in Financial Times Ranking

Heirs Insurance Group has achieved a landmark double recognition,...

NEM to Unveil Life Assurance Firm, Reports N167 bn Premium Income in 2025

Mr. Tope Smart, Group Chairman, NEM Insurance Plc, said...

Business

CIG Motors: Pay ₦3m For a Brand New Car in May Splash Promo on Electric, Petrol Vehicles

New campaign introduces EasyPay auto-financing, major discounts and nationwide...

Repton CEO Calls for Digital Skills Acquisition at Lagos Career Fair

Otunba Odeyeyiwa Kazeem Olayemi, GMD/CEO, Repton Group, Keynote Speaker...

Guinness Nigeria CEO Attributes Strong 2026 Start to Operational Efficiency, Localised Decision-Making

The Managing Director/CEO of Guinness Nigeria Plc, Girish Sharma...

P+ Beats Three Agencies to Win NSIA Media Intelligence Business

P + Measurement Services Limited - (P+) has won the...

Guinness Nigeria Sweeps 7th Edition of The Industry Awards, Named Most Outstanding Company in Sustainability

L-R: Olukemi Ogunsakin, Head, Corporate Communications, Sustainability & CSR,...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

NGX Shareholders Commend Leadership at 65th AGM, Seeks Continued Growth

Shareholders of Nigerian Exchange Group Plc (NGX Group) have...

NGX Group Commends Happy Woman Digital Platform Initiative, Seeks Partnership

Being text of the speech by Alhaji (Dr.) Umaru...

Nigeria’s Reforms Driving Strong Domestic Capital Mobilisation, Says NGX Group CEO

The Group Managing Director/Chief Executive Officer of Nigerian Exchange...

Insurance

Leadway Assurance Claims Payout of N137bn in 2025 Reinforces Market Leadership, Customer Trust

Against the backdrop of a challenging yet progressively stabilising...

AIICO Deepens Commitment to Education, Capacity Development with Upgrade of CIFM Learning Hall

AIICO Insurance Plc, one of Nigeria’s leading insurance and...

Heirs Insurance Group Named among Africa’s Fastest-Growing Companies in Financial Times Ranking

Heirs Insurance Group has achieved a landmark double recognition,...

NEM to Unveil Life Assurance Firm, Reports N167 bn Premium Income in 2025

Mr. Tope Smart, Group Chairman, NEM Insurance Plc, said...

Emadeb Petroleum Achieves First Oil from Ibom Field

Emadeb Petroleum Exploration & Production Company Limited (Emadeb E&P) is proud to announce the achievement of first oil from the Ibom Field (PPL 236), marking another milestone in Nigeria’s upstream oil and gas industry.

Following sustained investment, technical rigour and collaborative effort, Emadeb E&P has commenced commercial production from Ibom Field.

This achievement underscores Emadeb E&P’s emergence as a fully integrated energy player and highlights the pivotal role of indigenous operators in advancing Nigeria’s energy security and economic diversification.

It also aligns with the Federal Government of Nigeria’s vision and aspiration to increase the nation’s crude oil production.

Ibom Field

Located approximately 30 kilometres offshore, Ibom Field was originally discovered in 1979. The field boasts significant in place volume of 103 million barrels of oil.

Since its acquisition in the 2020 Marginal Field Bid Round, Emadeb E&P has invested over $100 million in a phased field development programme. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) approved the Ibom Field Development Plan (FDP) in November 2024.

Key Technical Milestones

  • Successful drilling and completion of the Ibom-03 well in September 2023.
  • Integration of a Mobile Producing Offshore Unit (MOPU) completed in June 2025.
  • Commissioning of the Ibom Field Mooring System in September 2025.
  • First oil achieved in October 2025. 

Demonstrating Indigenous Capacity and Strategic Partnership

“This milestone reflects our deep commitment to unlocking Nigeria’s hydrocarbon potential through homegrown expertise, strong partnerships, and disciplined investment,” said Adebowale Olujimi, CEO, Emadeb E&P.

Olujimi declared: “We are proud to contribute to Nigeria’s energy goals, foster local content, create jobs, and deliver sustainable value.”

The Ibom Field development showcases effective collaboration between the private sector and government institutions and stands as a model for marginal field commercialisation and indigenous capacity development in the upstream sector.

The Ibom Field stands as a testament to what is achievable when strategic intent meets execution excellence.

Looking Ahead

Emadeb E&P is now preparing for Phase 2 development to drill two additional wells that will triple production by Q4 2026. The company remains focused on operational excellence, environmental stewardship, safety, and community engagement.

 

Hot this week

Nnamdi Azikiwe University Students Clinch ₦5m Top Prize at Heirs Insurance Hackathon Competition

Winners of the 2026 Heirs Insurance Hackathon from Nnamdi...

Leadway Assurance Claims Payout of N137bn in 2025 Reinforces Market Leadership, Customer Trust

Against the backdrop of a challenging yet progressively stabilising...

AIICO Deepens Commitment to Education, Capacity Development with Upgrade of CIFM Learning Hall

AIICO Insurance Plc, one of Nigeria’s leading insurance and...

Repton GMD Underlines Diligence, Determination in Goal Realisation

L-R: Otunba Odeyeyiwa Kazeem Olayemi, GMD/CEO Repton Group, Keynote...

CIG Motors: Pay ₦3m For a Brand New Car in May Splash Promo on Electric, Petrol Vehicles

New campaign introduces EasyPay auto-financing, major discounts and nationwide...

Topics

African Alliance: 50% Growth Target in 2021, N3.2bn Premium, DIY Portal

Amaka Ogbedaigo, Chair, Event Organising Committee, NCRIB South-South Area...

Absa: Businesses Can Tap into Stock Exchange to Drive Growth

Akinkunmi Majaro Head, Absa Securities Nigeria Limited Soaring inflation and...

New NEXIM MD, Abubakar Bello, Assumes Office

The new Managing Director of the Nigeria Export-Import Bank (NEXIM), Mr...

Great Nigeria Insurance Restates Commitment to Gender Equality, Female Inclusion

Cecilia Osipitan Managing Director/CEO Great Nigeria Insurance Plc One of the foremost...

Zika Virus: Brazil Advises Pregnant Women to Avoid 2016 Olympic Games

Pregnant women are advised not to travel to Brazil...

NCC: Inside the N345bn Revenue Haul in 5 Years

L-R: Hon. Unyime Josiah Idem, Deputy Chairman, House Committee...

Saudi Vision 2030: Driving the Economy via Insurance

  Saudi Vision 2030 is an inclusive plan for reforming Saudi...
Exit mobile version