Aiteo Eastern Exploration and Production Company
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Aiteo Eastern Exploration and Production Company Limited (AEEPCo) is the group’s main subsidiary. AEEPCo is the operator of OML 29, the largest onshore block in Sub Saharan Africa with an area extent of 990sq-KM, which is an NNPC-Aiteo Joint Venture. It also operates the 97-Kilometre Nembe Creek Trunk Line (NCTL), which serves as an industry-wide evacuation pipeline for produced fluids from flow stations in Bayelsa to the Bonny Terminal in the Eastern Delta region of Nigeria.
From its acquisition of OML 29, the company has overseen an outstanding production growth, with output increasing from 25kbpd to about 90kbpd in a little over a year. The Company has been instrumental to the growth of the local sector by constantly ensuring availability of high quality refined products nationwide to meet the energy requirements of a growing population.
Operating on 6 AGG compressors, Aiteo currently produces significant amount of liquified natural gas and liquified petroleum gas from reserves from gas reserves at OML 29 and has an agreed Joint Venture investment plan which will increase oil production levels above 150,000 bpd and gas utilization of more than 200Mmscf/day. This will make Aiteo a major independent gas producer in Nigeria.
RECOGNITION & AWARDS
Aiteo Eastern E&P Company Limited’s outstanding performance in the industry and its commitment to social development and sustainability has attracted several awards from reputable organisations over time.
The company has received the following awards;
2024
- Nigeria Gas Association Special Recognition Award
- Independent Company of The Year – Sub Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) Awards.
2019
- Upstream Company of the Year 2019 – BusinessDay Newspapers Awards.
2018
- Oil and Gas CSR/Sustainability Company of the Year (Upstream) – The Guardian Newspaper
- Oil and Gas Company of the Year (Upstream Indigenous) – The Guardian Newspaper
- Oil and Gas CEO of the Year (Upstream Indigenous) – The Guardian Newspaper
2017
- Company of the Year – New Telegraph Newspaper.
- Company of the Year – Leadership Newspaper.
- Company of the Year – Business Day Newspaper.
- Indigenous Company of the Year Award – Nigeria Oil & Gas Summit / CWC
- Oil Industry Leadership Award – Petroleum Technology Association of Nigeria , PETAN / OTC 2017