Atlantic Energy- Lagos
Business Directory »
Manufacture / Production
IMAGE: Atlantic Energy »
A Nigerian Independent E&P Company
Atlantic Energy is a private upstream oil and gas company founded by Nigerian and international Exploration & Production executives with an extensive track record, market-leading insight and experience in the Nigerian independent E&P sector. We currently operate only in Nigeria and are dedicated to our partners and communities through our Enduring Commitment sustainability program. Atlantic Energy is currently a significant partner in multiple Oilfields in Nigeria.
To build a leading oil and gas development and production company with 1,000 MMboe reserves and 150,000 boepd production by end 2015.
2. Nigerian Growth opportunity
The Niger Delta ranks 9th in oil reserves and 7th in gas reserves as a hydrocarbon basin. Nigeria is one of the world’s largest exporters of crude oil and liquefied natural gas.
The International Oil Companies (IOCs) still operate approximately 96% of production, with few significant independent oil and gas producers. The IOCs are under constant pressure to exploit the most profitable assets in their vast portfolios, but have limited time and resources. Inevitably, the IOCs have migrated offshore to the larger, higher potential locations that are capable of making a more significant impact on the overall value of an IOC scale company.
The target for Atlantic Energy is the more than 100 undeveloped and underdeveloped field discoveries overlooked by the IOCs in the 10 to 200 MMboe scale range.
In particular, gas fields are underdeveloped because the IOCs prioritise the more profitable LNG export market over the domestic market. The lack of gas provision to the domestic market is the limiting factor in domestic power production and industrial growth. Atlantic Energy will systematically identify and develop gas fields in locations which can supply the domestic market as part of our Enduring Commitment to Nigeria.
3. Strong Foundations
With positive cash flows from existing assets, a strong financial base of equity and debt funding from leading Nigerian banking institutions, Atlantic Energy is well positioned to play a leading role in the Nigerian independent E&P Sector.
Our values centre around having the best people focused on excellence and operating to an inflexible standard of international Health & Safety, Security Environmental standards and Community relations.
The assets under our Strategic Alliance with NPDC consist of onshore west Niger Delta fields – the majority are land locations, with some swamp locations.
Our initial operations focus on supporting these locations, however, we are seeking to expand our asset base to further onshore and shallow-water offshore opportunities.
We are responsible for managing existing production and development of oil and strategic domestic-supply gas fields, hence robust international-standard operations are essential.
Our Enduring Commitment to technical integrity is a differentiating core value in all of our operations. Subsurface expertise and technology, surface operations execution, and well re-entry and drilling capability are key contributions to our partnerships.
Our existing assets have sufficient reserve capacity that our production per day can be doubled in the next 3 to 5 years.
Our bookable reserves are contracted through Strategic Alliance Agreements executed with NPDC. Under the agreements, Atlantic Energy funds NPDC’s entire capital expenditure obligations and receives a tiered share of production above the baseline amount depending on how well we increase production and develop the assets.
Atlantic Energy seconds technical, managerial and project management personnel to NPDC as required through our partnership.
Royalgate was set-up as a subsidiary of Atlantic Energy to focus on exploring oil and gas fields and opportunities across the broader African region. The company also aims to aid in the transfer of oil and gas-related knowledge across the region.
The team at Royalgate has been very active evaluating potential opportunities in the eastern part of Africa, as well as select west and central African nations. They are supported by a global team of technical advisors who are experiencing in evaluating exploratory opportunities globally. They also have the full backing and support of their parent company, Atlantic Energy.
For further information, please contact: email@example.com
Our Enduring Commitment sustainability program starts with the communities in which we operate, but also uniquely incorporates the funding of feasibility studies into compelling business plans throughout Africa.
Our operations will focus on community development, local employment, education, safety and security.
Our new partnership with Ozwald Boateng's 'Made in Africa' foundation will set a new paradigm for developing Africa. The Made in Africa Foundation, focuses on supporting and funding power and infrastructure projects that would not get off the ground without such support. The Foundation will provide the support necessary for high-impact power and infrastructure projects to access funding by providing feasibility studies as well as developing the management teams and business plans. Atlantic Energy has initiated our enduring commitment to the foundation with over $6m including 3 years of costs and underwriting 2 projects in the 1st year.