Targeting 250,000 Bpd By 2030, First Exploration & Petroleum Development Company (First E&P) Joins African Energy Week (AEW) 2026 As Diamond Sponsor

(MENAFN- African Press Organization) CAPE TOWN, South Africa, May 8, 2026/APO Group/ –

Nigerian independent First Exploration & Petroleum Development Company (First E&P) has joined African Energy Week (AEW) 2026 as a Diamond Sponsor, reinforcing its position as one of the continent’s leading indigenous operators at a time when Nigeria is working to restore oil output and scale gas as a driver of industrial growth.

The announcement comes as First E&P advances an ambitious growth strategy focused on expanding reserves, increasing production capacity and strengthening its regional footprint. This trajectory aligns closely with Nigeria’s broader energy agenda, which aims to stabilize production at 1.8 million bpd in 2026 and reach two million bpd over the medium term, while positioning gas as a central pillar of economic growth.

The company is targeting production of up to 250,000 bpd by 2030 through the optimization of existing assets, including the Anyala and Madu fields, alongside new exploration success and strategic acquisitions. Its portfolio – spanning PML 53, PML 54 and multiple prospecting licenses – has already supported output of nearly 60,000 bpd, underpinned by a track record of fast-track project delivery.

Exploration remains a key growth lever. In 2025, the company tripled its reserves through investments in both greenfield and marginal assets, including the Songhai field, where an estimated 2 tcf of gas was discovered.

At the same time, First E&P is integrating digital technologies into its operations. In February 2026, the company signed a memorandum of understanding with Digital Energy to deploy AI-driven solutions through the NexaHSE platform, aimed at improving operational efficiency, asset visibility and safety across its portfolio.

Beyond Nigeria, First E&P is expanding its regional presence. Its entry into Tanzania’s Mnazi Bay North Block, through a partnership with the Tanzania Petroleum Development Corporation, signals a strategic move into East Africa’s gas-rich basins while supporting regional energy access and clean cooking initiatives.

The company is also strengthening its position across the gas value chain. Plans are underway to establish a midstream and downstream gas business targeting more than 500 MMscf/d of processing and supply capacity by the end of 2026. Initial volumes are expected to be sourced from its PML 53 and PML 54 assets, supporting Nigeria’s gas-to-power strategy and creating new domestic and regional supply pathways.

“Africa’s energy future will increasingly be shaped by capable indigenous independents that can execute projects efficiently and unlock value across the value chain,” said NJ Ayuk, Executive Chairman of the African Energy Chamber.“First E&P’s exploration-led growth strategy and proven ability to deliver projects at speed position it as a key player in advancing energy security and industrial development in Nigeria and beyond.”

First E&P’s participation as a Diamond Sponsor at AEW 2026 comes at a pivotal moment for both the company and the broader energy sector. As indigenous operators take on a greater role in driving production and unlocking new resources, the event provides a platform to engage with policymakers, investors and industry stakeholders on new partnerships and project opportunities across Africa.

Distributed by APO Group on behalf of African Energy Chamber.

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