MISSION

    To profitably acquire, develop and produce oil and gas assets within and outside Nigeria.

 

    To continuously develop the technical and personal competencies of our people   within a challenging and rewarding corporate environment.

 

    To generate social value and economic returns to our shareholders, employees, partners and the community.

 

    To achieve measurable and sustainable corporate growth.

VISION

    “To be recognized as one of the leading indigenous E & P Companies in Africa, adhering to world class standards in all our activities”

NEWS

    Spain’s Cepsa acquires 25 per cent stake in Kenyan oil …

 

Swala Energy has sold 25 per cent of its stake in Kenya’s Nyanza Block 12B, located in the port city of Kisumu, to Spanish explorer Cepsa.

 

Although the worth of deal was not disclosed, the Australian company, with assets in Tanzania, said that Cepsa would pay for costs incurred for the first two wells are drilled, amounting to US$15mn. Tullow Oil is the operator of the oil block.

    Statoil sells Angolan block interest to Columbian explorer

 

Norwegian oil and gas company Statoil has sold its 10 per cent stake in Angola’s Block 39 to Colombia’s Ecopetrol

Gareth Burns, senior V-P, strategy and business development at Statoil, said, “The sales were part of a continuing process of adjustment of Statoil’s portfolio in order to maximise the value of the assets.

    ERHC Energy to invest US$100 million in São Tomé and Príncipe’s oil block

 

ERHC Energy has announced that it will invest close to US$100mn for the exploration and development of Block 11 located offshore São Tomé and Príncipe

ERHC Energy has signed a 28-year production sharing agreement (PSC) with the National Petroleum Agency (ANP) for the oil block, which lies in the central African island nation’s exclusive economic zone (EEZ).