“We have made significant progress since Oriental Energy Resources Limited was founded. Our successes have been built on exceptional workforce, strategic alliances, world-class technology, operational efficiency, best practices and sustainable initiatives in the host communities and area of operation”, Muhammadu Indimi, Chairman of Oriental Energy said of the company founded in 1990.
Oriental Energy Resources Limited is a foremost indigenous oil exploration and production company in Nigeria.
In 1990, OPL 224 was awarded to Oriental Energy Resources Limited by the Federal Government of Nigeria with a mandate requirement to acquire a minimum of up to 1000 km of seismic data and to drill at least three exploratory wells.
Oil Prospecting Licence, OPL is a license granted by government to companies, giving them the exclusive right to explore and prospect for oil within a specific area.
Read also: What you need to know about Oriental Energy’s $315 million FPSO vessel
In the course of its operation, Oriental Energy entered into a Technical Services Agreement with DuPont Nigeria Ltd, according to information from its website, acquired the committed 2D seismic survey as well as drilled four wells including the Ufon discovery well.
This continued until the first half of the 1990s. “At the end of the decade, the Nigerian Department of Petroleum Resources gave an approval to convert OPL 224 to OML 115 on 20 May 1999, as a result of the successful work done on the Block. OML 115 was reduced to 248 km² from its original size of 310 km² as a result of international boundary redefinition”.
In early 2000s, the growth of Oriental Energy proceeded quickly. Ebok marginal field (May 2007) and Okwok marginal field (2006) were awarded to Oriental Energy Resources Limited from ExxonMobil’s OML 67, through a Joint Venture Agreement (JVA) between the Nigerian government and ExxonMobil under the Marginal Fields Scheme, as a compensation for the loss of acreage to ExxonMobil Equatorial Guinea.
Strategic alliances followed with Addax Petroleum (Okwok), Nexen E&P Services Nigeria Ltd. (OML 115), and Energy Equity Resources Oil & Gas (OML 115).
In March 2011, Oriental Energy received approval from the Federal Republic of Nigeria for the establishment of the Ebok Terminal for the offloading of crude oil. By the end of March 2011, the production, processing, and storage facilities were installed at the Ebok field and readied for first oil. By the end of 2011, the Ebok field had produced approximately 3.0 million barrels of oil.
Read also: Oriental Energy donates climate monitoring station to UNIUYO
Information from its website further states that production is currently coming from 6 different reservoirs across 3 separate fault blocks. “Oriental Energy is currently producing an average of 19, 000 barrels of oil per day from 27 producer wells. Oriental Energy has produced over 60 MMbbls from inception to date. The Nigerian crude oil producer is ranked one of the best indigenous contributors to the national reserves”.
While producing oil, the company said the promotion of a safe and healthy work environment, protection of the environment are integral parts of its business.
“At Oriental Energy, we recognize the host communities as very important partners whose active support is indispensable to our success. These values have enabled us to deliver optimum value to our employees, partners and stakeholders, regardless of industry and economic challenges”, Indimi said.
In December, 2021, Muhammadu Buhari, Nigeria’s former president inaugurated a multi-billion naira complex donated to the University of Maiduguri (UNIMAID) by Muhammadu Indimi, chairman of Oriental Energy Resources Limited.
The complex comprises a centre for distance learning, an international conference centre, a conference room, examination hall, resource areas, laboratory, staff offices and a recreational centre.
At the inauguration, according to reports, Buhari commended Indimi for his commitment towards strengthening the education sector and urged other notable Nigerians to contribute to the development of the nation.
Read also: Reps push for harmonised law in renewable energy sector
Among other several CSR initiatives, the company in 2021 flagged-off technical skills acquisition program for youths in Mbo Local Government Area of Akwa Ibom State.
Between 2011 and 2014, the company partnered with several training centres in Akwa Ibom State to train youths and women from communities in Mbo Local Government Area. They were equipped with a variety of vocational and technical skills including: catering and hospitality management, welding and fabrication, electrical and instrumentation, fashion and design, carpentry and furniture, hairdressing and hat making.
The Chairman, Muhammadu Indimi who has received awards, promised that the company will continue its steadfast commitment to ethical, sustainable development, social values and the growth of the Nigerian oil and gas industry.
