Lagos – FIRST Exploration and Petroleum Development Company (FIRST E&P), a Nigerian independent oil and gas producer, has set a target of 250,000 barrels of oil equivalent per day by 2030, alongside plans to build out a midstream gas business capable of processing 1bn standard cubic feet per day.
AfricaHeadline Reports Team
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The company outlined its growth ambitions at the Angola Oil & Gas 2025 conference in Luanda. Segun Owalabi, general manager for exploration and development, said FIRST E&P would build on recent milestones, citing the swift development of its flagship Anyala and Madu fields in the Niger Delta, which reached first oil within two years of final investment decision.
Owalabi added that the company had tripled its petroleum reserves through exploration, appraisal and active portfolio management. This year’s two-trillion-cubic-feet gas discovery at the Songhai field further underlined its resource base, he said.
FIRST E&P, which operates exclusively in Nigeria’s shallow waters, said the basin had provided a platform to “unlock near-term value, de-risk future growth and build operating credibility.”
The company also highlighted its cluster-based development model, designed to cut costs and accelerate monetisation of smaller accumulations.
