Tag: Aiteo

  • Mozambique, Aiteo launch 240,000 bpd refinery to position nation as regional energy hub

    Mozambique, Aiteo launch 240,000 bpd refinery to position nation as regional energy hub

    Aiteo, one of Africa’s leading energy companies, has signed a major engineering, procurement, and construction (EPC) agreement to develop a 240,000 barrels-per-day refinery in Mozambique. The project is expected to significantly boost domestic fuel production, reduce import dependence, and establish the country as a key energy supplier in Southern Africa.

    The announcement was made during a signing ceremony chaired by President Daniel Chapo, marking the formal start of a strategic partnership between Aiteo and the Government of Mozambique. 

    The project reflects the administration’s efforts to attract high-impact energy investments and expand industrial infrastructure across the country — a direction shaped in part by Chapo’s long-term focus on energy independence and industrialization.

    The new refinery will be developed as a joint venture between Aiteo US Corporation and Mozambique’s state-owned petroleum company, Petromoc. U.S.-based Deerfield Energy Services LLC, an established engineering firm, has been awarded the EPC contract, reflecting the project’s international scope and technical ambition.

    Designed for phased development, the refinery will launch with an initial 80,000 bpd processing train and scale up to full capacity of 240,000 bpd. The facility will use low-complexity, modular technology to speed up deployment and ensure operational stability. Its output will include gasoline, diesel, jet fuel, and naphtha, with the potential to meet local demand and support growing regional trade.

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    The project also aligned with Mozambique’s long-term energy strategy, which emphasizes domestic refining capacity, industrial development, and job creation. Officials say it will expand access to cleaner fuels and liquefied petroleum gas (LPG), helping address energy access and affordability — particularly in support of clean cooking initiatives.

    “This EPC contract marks a defining milestone for Aiteo and Mozambique’s energy future,” said Dr. Ransome Owan, Group Managing Director for Infrastructure at Aiteo. “It will reduce import reliance, create jobs, and lay the foundation for Mozambique to become a leading hub in the region’s downstream energy sector.”

    Construction of the first phase is expected to be completed within 24 months. Once fully operational, the refinery will be among the largest of its kind in the Southern African Development Community (SADC), adding significant capacity to the regional energy landscape.

    The deal reinforces the government’s push for transformative industrial partnerships and Aiteo’s commitment to long-term infrastructure development across Africa. It also highlights the strategic foresight of President Chapo, whose administration has prioritized energy infrastructure as a pillar of Mozambique’s economic transformation.

  • AITEO terminates contracts with Amotoi Global Services, others

    AITEO terminates contracts with Amotoi Global Services, others

    Aiteo Eastern Exploration and Production Company (AEEPCO), has terminated its security surveillance or contractual arrangements and agreements with a lawyer, Clement Amunaboye (trading under the name and style of Amotoi Global Services Ltd).

    The oil firm also terminated any similar contract with three others: Obiene M Obiene (also known or referred to as “Organiser”), Thomas Livingstone and Christopher Ezekiel Enu.

    In a statement on Monday, July 1, 2023, the operator of the Nigerian National Petroleum Corporation (NNPC)/Aiteo Joint Venture on OML 29, said the termination was “with immediate effect”.

    Read Also: AITEO ends contracts with Amotoi Global Services, other security providers

    AEEPCO alerted the public and, in particular, “all regulatory and government authorities within the oil and gas industry, all law enforcement and security agencies, all relevant third parties associated or connected with matters relating to the security of its operating installations and infrastructure, howsoever connected or wheresoever located.”

    It explained that the developments followed the “confirmation of the occurrence of various damaging nefarious activities that have compromised our operations, constituting grave safety violations, manifesting high fraud, injurious criminal activity, gross negligence and the unacceptable cumulative exposure of our assets and business, perpetrated by the within-named entities and individual security contractor and service providers. 

    “Accordingly, any/all relationships/transactions with them, whether jointly or severally, purportedly on our behalf, cease forthwith.

    “Any further involvement with these entities or individuals ostensibly pertaining to our company is hereby disclaimed.”

    Commenting on this development, AEEPCO’s Group Managing Director, Victor Okoronkwo, said: “ For years, our company and its stakeholders have borne the worst impact of the consequences of crude theft, facilities vandalization, crude trafficking culminating not only in substantial financial losses but causing severe disruption to our operations.

  • AITEO ends contracts with Amotoi Global Services, other security providers

    AITEO ends contracts with Amotoi Global Services, other security providers

    Aiteo Eastern Exploration and Production Company (AEEPCO) has terminated its security surveillance or contractual arrangements and agreements with a lawyer, Clement Amunaboye (trading under the name and style of Amotoi Global Services Ltd).

    The oil firm also terminated any similar contract with three others: Obiene M Obiene (also known or referred to as “Organiser”), Thomas Livingstone and Christopher Ezekiel Enu.

    In a statement on Monday, July 1, 2023, the operator of the Nigerian National Petroleum Corporation (NNPC)/Aiteo Joint Venture on OML 29, said the termination was “with immediate effect.”

    AEEPCO alerted the public and, in particular, “all regulatory and government authorities within the oil and gas industry, all law enforcement and security agencies, all relevant third parties associated or connected with matters relating to the security of its operating installations and infrastructure, howsoever connected or wheresoever located.”

    It explained that the developments followed the “confirmation of the occurrence of various damaging nefarious activities that have compromised our operations, constituting grave safety violations, manifesting high fraud, injurious criminal activity, gross negligence and the unacceptable cumulative exposure of our assets and business, perpetrated by the within-named entities and individual security contractor and service providers. 

    “Accordingly, any/all relationships/transactions with them, whether jointly or severally, purportedly on our behalf, cease forthwith.

    Read Also: Aiteo resumption of production patriotic, timely for economic growth- Reps downstream chairman

    “Any further involvement with these entities or individuals ostensibly pertaining to our company is hereby disclaimed.”

    Commenting on this development, AEEPCO’s Group Managing Director, Victor Okoronkwo, said: “For years, our company and its stakeholders have borne the worst impact of the consequences of crude theft, facilities vandalization, crude trafficking culminating not only in substantial financial losses but causing severe disruption to our operations.

    “Despite the painful price we have had to pay, it is particularly galling to discover that we have been undermined by the entities or individuals who are supposed to secure our facilities and output.

    “This speaks to the depth of the decay and the severity of the problem facing producers like us and calls for a heightened, urgent and comprehensive escalation and implementation of corrective measures.”

  • Aiteo resumption of production patriotic, timely for economic growth- Reps downstream chairman

    Aiteo resumption of production patriotic, timely for economic growth- Reps downstream chairman

    The Chairman House of Representatives Committee on Petroleum Resources, Downstream Hon. Ikenga Ugochinyere has commended the CEO of Aiteo Oil Company Benedict Peters for resuming production days after the oil firm disclosed that there had been an oil leak on its Nembe Oilfield asset in Bayelsa State.

    Aiteo Eastern Exploration and Production Company (AEEPCO), operator of the NNPC/ Aiteo Joint Venture on OML 29 said that this followed the completion of the joint investigative visit to the spill site by all stakeholders as required by the regulations.

    Reacting to the news, Ugochinyere in a statement said that the resumption of production is patriotic and timely for economic growth of the nation.

    Read Also: Aiteo resumes production at OML 29 after oil spill

    The lawmaker said the slump in Nigeria’s monthly oil outputs which has resulted in billions of Naira revenue loss has a source of concern to the parliament.

    He stated that this continued plunge in Nigeria’s oil production has severally been blamed on the incessant vandalism of oil pipelines and crude oil theft.

    While commending Aiteo for the speed and professionalism in handling the leak, Ugochinyere assured of National Assembly’s commitment to addressing this issue, through legislative interventions.

  • Ethnic youth leaders hail Benedict Peters over Aiteo resumption of production after Nembe oil leak

    Ethnic youth leaders hail Benedict Peters over Aiteo resumption of production after Nembe oil leak

    Sociocultural group, Ethnic Youth Leaders Council, has hailed the CEO of Aiteo Oil Company Benedict Peters for resuming production, days after the oil firm disclosed that there had been an oil leak on its Nembe Oilfield asset in Bayelsa State.

    Aiteo Eastern Exploration and Production Company (AEEPCO), operator of the NNPC/ Aiteo Joint Venture on OML 29, at the weekend said that this followed the completion of the joint investigative visit to the spill site by all stakeholders as required by the regulations

    The group in statement by council member and President Arewa consultative youth President Kabiru Yusuf lauded Peters for his patriotism and commitment to saving environment.

    Read Also: Aiteo resumes production at OML 29 after oil spill

    The group also hailed him for building a powerful indigenous company that is responsive to national needs.

    They lamented that Nigeria’s aspiration of increasing its oil production has always suffered a setback, adding that as Aiteo, one of the country’s biggest hydrocarbons producers, has announced resumption of crude oil production, it will positively impact crude oil production.

    The group said: “We commend the CEO of Aiteo Oil Company Benedict Peters for resuming production, days after the oil firm disclosed that there had been an oil leak on its Nembe Oilfield asset in Bayelsa State. This is great news and timely given the set backs the sectors have encountered over the years.

    “We also commend him for his patriotism and commitment to saving environment and as well building a powerful indigenous company that is responsive to national needs. The speed in handling the situation.”

  • Aiteo resumes production at OML 29 after oil spill

    Aiteo resumes production at OML 29 after oil spill

    An indigenous oil company, Aiteo Eastern Exploration and Production Company (AEEPCO), operator of the NNPC/Aiteo Joint Venture at OML 29 said it has completed a joint investigative visit to a recent spill site in Nembe Local Government Area.


    AEEPCO also said that its affected facility is safe to be reopened for production.


    A statement by the Group Head, Strategic Communications, Media & Events at Aiteo Group, Ndiana Matthew, said on Saturday that the joint investigative visit to the spill site was attended by all stakeholders as required by regulations.


    He said that while production continues other statutory spill management protocols will run concurrently.

    AEEPCO’s Group Managing Director, Victor Okoronkwo, was quoted as saying: “After a comprehensive evaluation of our operations and infrastructure at the Nembe Swamp Field, we are delighted to confirm the resumption of production activities.

    “Our dedicated team has worked diligently to address the issues caused by the recent incident and implemented enhanced safety protocols to prevent future occurrences.

    “We have engaged with regulatory bodies, local communities, and stakeholders to ensure transparency and accountability throughout this process.”

  • Aiteo shuts production in Bayelsa field over oil leak

    Aiteo shuts production in Bayelsa field over oil leak

    An Indigenous oil firm, Aiteo Eastern Exploration and Production Company (AEEPCO), said it has temporarily shut down oil production at its Nembe field in response to an oil spill.

    Aiteo in a June 18, 2024 statement by its Spokesperson, Ndiana Matthew, confirmed the Monday oil leak from its facility.

    The statement read: “Aiteo Eastern Exploration and Production Company (AEEPCO), operator of the NNPC / Aiteo Joint Venture on OML 29, confirms it has detected an oil leak at its Nembe swamp facility in OML 29, Nembe Kingdom, Bayelsa State.

    “The leak was reported on Monday, June 17, 2024, during routine operations. AEEPCO’s Oil Spill and Emergency Response Team was immediately activated and all production from OML 29 shut down.

    “This is a precautionary measure while mobilizing additional resources to contain the spill.

    “The cause of the spill is currently undetermined. However, we are proactively engaging with stakeholders to mitigate the immediate effects.”

    Commenting on the incident, AEEPCO’s Group Managing Director, Victor Okoronkwo, said: “During our operations on Monday, June 17, 2024, the leak was detected.

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    “A Joint Investigative Visit (JIV) with stakeholders has been initiated to determine the cause of this incident.

    “While we regret the production losses to the Joint Venture and the nation and the potential environmental impact, our current priority is to expedite an efficient spill management process in line with regulatory standards and collaborate with all stakeholders to restore production and mitigate associated risks.”

    He said Aiteo’s joint venture partners and the relevant regulators: The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the National Oil Spill Detection and Response Agency (NOSDRA) had been notified of the incident.

  • ‘We won’t tolerate protest to disrupt Aiteo’s oil production’

    ‘We won’t tolerate protest to disrupt Aiteo’s oil production’

    Bayelsa State Government says it will not allow a protest planned for tomorrow to disrupt oil production at Oil Mining Lease (OML) 29, operated by Aiteo Eastern Exploration.

    The government in a statement yesterday by the Commissioner for Information, Orientation and Strategy, Chief Ayiba Duba, warned the masterminds of the planned protest in Nembe Basambiri that youths and chiefs’ council activities remained suspended in the area.

    According to the state government, the security agencies have been alerted to the plot calculated to halt oil production at the OML 29 oil fields and deprive the state of the much needed oil derivation revenue.

    The government said it would not want anyone under any guise to breach the prevailing peace in Nembe Basambiri and across Bayelsa.

    “The attention of the Bayelsa government has been drawn to a planned protest on December 26 by some individuals at Nembe Bassambiri in Nembe Local Government, who have constituted themselves into youth and chiefs councils.

    “The public should note that activities of these individuals are in violation of the subsisting suspension placed on all youths’ and chiefs’ councils’ activities in Bassambiri at the wake of a violent crisis traceable to the unwholesome conduct of the youth body and chiefs’ council in the area in August.

    “The protest being planned by these individuals against Aiteo Eastern Exploration and Production Company will not only disrupt activities of the company, but also breach the peace, undermine public order and safety as well as possible destruction of oil and gas infrastructure in the state,” it said.

    The News Agency of Nigeria (NAN) recalls that oil production at OML 29 had remained comatose for two years due to unsustainable levels of oil theft and vandalism on the 97 kilometre Nembe Creek Trunk Line (NCTL).

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    Aiteo, the indigenous oil firm that acquired the asset for 2.4 billion dollars, following divestment by Shell recently discarded the NCTL and resorted to direct export using a Floating Production Storage and Offloading Vessel.

    The Bayelsa government explained that the planned protest was not only an affront on the authority of the state, but also a sabotage of the Nigerian economy.

    “Therefore, government wishes to warn those involved in this attempt to undermine the public peace in Nembe under the guise of protest against oil companies, to abort it immediately as there will be consequence for any unruly conduct.

    “Meanwhile, all security agencies in the state have been put on red alert and will not hesitate to do everything within their means to prevent infraction in Nembe and indeed the entire state.

    “To be forewarned is to be forearmed,” it added. 

    The management of the oil firm is yet to respond to request for response on the development.

  • Aiteo eyes 250,000 bpd oil production

    Aiteo Group is negotiating an alternative financing package that would enable it fund about $5 billion investment to be able to increase its oil production to about 250 000 barrels per day (bpd).This  will also  grow gas output to about 3 million standard cubic feet per day (mmscfd) of gas.

    The Managing Director, Eastern Exploration and Production Company, the upstream arm of Aiteo, Mr. Victor Okonkwo, stated this at a forum in Abuja. According to him, there will be a blend of financing options depending on the alternative financing mechanism the company is working out with its joint venture partner.

    He noted that Aiteo operates key strategic business of oil infrastructures in Nigeria and a major stakeholder across the energy value chain with huge investments in the country. The company, Okonkwo said, was one of the biggest single investment decision makers up to 2014, when it invested over $2.5 billion in acquiring oil milling lease (OML) 29 asset.

    The company is Nigeria’s largest indigenous company by production and we are committed to producing between 80,000 bpd and 90,000 bpd. ‘’In the short to midterm, we are going to 150,000 bpd and in the mid to long term we are going to 250,000 bpd, we want to secure energy supply for the rest of Africa and move from fossil fuel to clean fuel’’, he stated.

    He also spoke on the challenges facing the indigenous players such as oil theft and pipeline vandalism. He stressed the need for the Federal Government to look more into securing energy assets. According to him, the company had lost over $2 billion to pipeline vandalism due to frequent attacks on its Nembe Creek Trunck Line (NCTL).  He stated that there had been a lot of intrusions in the pipeline leading to outages of the company’s production and sometimes shutdown. This pipeline, according to him, does not only deliver the company’s crude to the terminal but it carries crude for five other companies including Shell. He said the shutdown impacts the firm in financial terms. ‘’As a result of these pipe breakages and oil theft, we have lost over $2 billion in the past four years. This is what we have lost not just as a company but also as a nation’’, he added.

    ‘’The consequential royalties and other revenues that ought to accrue to the government were lost just because of the activities of these vandals. That is why we are calling on government to collaborate on finding a lasting solution to this menace’’.

    The Aiteo chief explained that the challenges in the industry call for the need for the Federal Government to conclude on the Petroleum Industry Bill (PIB) to secure oil and gas infrastructure. “If the government can do that, we will have more money available to build infrastructure for the country and save our petro dollars,” he said, adding that Aiteo as one of the pioneers of indigenous oil companies has come out strongly to invest in drilling, re-entries, and new wells.

    On gas production increase, Okonkwo stated that if the company achieves the planned production target, such quantity of gas would be enough to generate more than 1.2 gigawatts of electricity, which will contribute substantially to solve Nigeria’s power sector problem especially unstable electricity supply and frequent blackouts.

    On the downstream arm of the company, Okonkwo said the company has the largest installed storage capacity for petroleum products in West Africa, which is over 230million litres.

    Meanwhile, the company is looking at investing about N1 billion in education, health and security for its host communities in Bayelsa State. Besides several other things, the company provides power, for the communities. Okonkwo said the company plans to build 24 hours uninterrupted power in the coming years for the people.

    “Our host communities are very important to us and at this point I like to give it to the communities of Nembe who are hosting majority of our production and they have been supportive in Aiteo’s goal to achieve its objectives,” Okonkwo stated.

     

  • Fire: Aiteo declares force majure on Nembe creek trunk line

    The management of Aiteo Eastern Exploration and Production Company yesterday said it had placed a force majure on the Nembe Creek Trunk Line (NCTL) due to fire outbreak.

    The company’s Head, Corporate Communications, Ndiana Matthew, said this in a statement in Lagos that the action followed information of a fire outbreak by a surveillance team composed of the Joint Task Force (JTF) and DSS around NCTL RoW near Awoba yesterday.

    Matthew said: “We are constrained to shut in injection as well as other related operations into the NCTL. In accordance with standard procedure, we requested the other injectors to do same. The NCTL has, hitherto, enjoyed smooth operations preceding this incident.”

    According to him, the fire may have occurred through an illegitimate, third party breach of the functionality of the pipeline which is as a critical national asset.

    Matthew said: “In the meantime, the relevant investigations are continuing while further information about the remote and direct causes of the fire will be communicated as soon as these became available. We ask our stakeholders to await further briefing in due course.”

    Aiteo Group is an integrated, global-focused Nigerian energy conglomerate founded in February 2008 by Benedict Peters.

    The company has significant business interests in oil and gas exploration and production; bulk petroleum storage; refining of petroleum products; trading, marketing and supply as well as power generation and distribution.

    Its subsidiaries are Aiteo Eastern Exploration and Production Company Limited (AEEPCo) and Aiteo Power.

    Aiteo Group acquired OML 29 from Royal Dutch Shell and emerged as Nigeria’s leading oil and gas company after successfully tripling.