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Nigerian Independents Tackle Market Volatility


  • Since the Federal Government of Nigeria enacted its Local Content Law in 2010, several indigenous operators – Atlas Petroleum International and Oranto Petroleum, Shoreline, Aiteo Group, Eroton Exploration & Production Company and Seplat Petroleum Development Company, among others – have made substantial contributions to the country's hydrocarbon output.
  • By 2020, independents were aiming to add 250,000 bpd of additional output, and in July 2019, Nigeria's largest independent oil producer, Aiteo Eastern E&P, was preparing to invest $5 billion over the next five years to drill new oil wells and re-open existing ones, in a bid to boost its oil and natural gas production.
  • In October 2019, Seplat Petroleum Development acquired independent Eland Oil & Gas, with plans to increase production by 30% to 64,000 bpd.



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