A prominent player in the oil and gas industry, stands as a testament to the company’s expertise in the energy sector. Africa focused oil and gas exploration and production company with interests in Nigeria.
Lekoil Nigeria Limited (“Lekoil”) is a prominent portfolio company of Cambridge Growth Partners, headquartered in Lagos with field operations locations in Rivers State. The company focuses on exploration, development, and production activities, with a specific emphasis on assets in Africa. Lekoil’s operations span Nigeria and other regions in West Africa, targeting opportunities for hydrocarbon resources. As an investment, Lekoil aligns with Cambridge Growth Partners’ expertise in the energy sector and its commitment to identifying high-potential ventures in emerging markets. The Company’s assets include:
Producing Asset
Appraisal Assets
Ogo discovery and OPL 310 (LEKOIL: 17.64% interest)
OPL 310 is located in the Dahomey Basin on the West African Transform Margin. The block extends from the shallow water continental shelf close by the City of Lagos, into deeper water. The main prospects are in water depths ranging from 00 to 800 metres and are within close proximity to the West Africa Gas Pipeline. The Ogo-1 well and the Ogo -1 ST well were successfully drilled in 2013 and resulted in a significant oil discovery. From well data, the partners estimated P50 gross recoverable resources to be 774 mmboe across the Ogo prospect four-way dip-closed and syn-rift structure.
OPL 276 (LEKOIL: 45% interest)
Acquisition announced in August of a 45 per cent participating interest in the Production Sharing Contract in relation to OPL 276, covering a territory located onshore in the eastern Niger Delta basin. Four wells have been drilled in the licence area, resulting in four discoveries (two oil and two gas) with preliminary resource estimates, based on data from the four wells,of gross recoverable volumes of 29 million barrels of oil and 333 Bcf of gas,with upside of 33 million barrels of oil and 476 Bcf of gas (recoverable).
OPL 325 (LEKOIL: 62% interest)
The OPL 325 licence area, located in the offshore Dahomey Basin within the wrench zone that straddles the western Niger Delta, is located 50km to the south of OPL 310. Preliminary review of the prospects, based on an independent study commissioned by LEKOIL, suggests oil in place volumes of up to 5.7 billion barrels with an estimated 2 billion barrels recoverable based on analogues.
LEKGAS
LEKGAS is a wholly-owned subsidiary of LEKOIL, the gas midstream vehicle of LEKOIL, building strategic, commercial and technical partnerships with world-class companies to unlock gas and gas-to-power opportunities mostly in Nigeria which is LEKOIL’s primary country of operations. LEKGAS has a dual focus of monetising LEKOIL’s equity gas g lobally as well as participation in the gas infrastructure space in Nigeria. As such, LEKGAS is structured as Developer, Operator and Investor in midstream gas assets to connect both equity and non-equity gas from the Upstream (field location) to the Downstream (wholesale customers). LEKGAS’ participation in the midstream gas value chain shall include gas gathering, treatment, transportation, processing and storage.