South Atlantic Petroleum (SAPETRO), a leading Nigerian oil and gas company, is set to expand its investment strategy by securing new partnerships aimed at boosting Nigeria’s oil production capacity.

To advance this objective, the company has joined the African Energy Week (AEW): Invest in African Energies conference as a Bronze Partner. The event, scheduled for September 29 to October 3 in Cape Town, serves as a premier platform for deal-making and strategic collaborations in Africa’s energy sector.

With a focus on exploration, development, and appraisal projects across underexplored territories, SAPETRO is reinforcing its commitment to enhancing Nigeria’s oil output while expanding its footprint across Africa.

SAPETRO currently controls approximately 74,890 km² of net acreage and operates deepwater oil production assets in partnership with international oil majors. Notably, the company holds a 15% stake in OML 130, operated by TotalEnergies, which includes the Akpo and Egina developments.

The Akpo field, located 175 km from Port Harcourt in water depths of 1,100-1,300 meters, comprises two main reservoirs: Akpo Main and Akpo West. Developed with 50 wells at Akpo Main and three at Akpo West, the project utilizes an FPSO system for production, while natural gas is transported via 150 km of pipelines to the Amenam/Kpono platform for delivery to the Nigeria LNG plant.

Beyond Akpo, SAPETRO plays a key role in the Egina development, situated 150 km off the Nigerian coast. The Egina project, also operated by TotalEnergies and developed in partnership with SAPETRO, NNPC, CNOOC, and Prime 130, features 44 subsea wells connected to an FPSO facility with a production capacity of 200,000 barrels per day. This project alone contributes about 10% of Nigeria’s total oil production and has achieved zero routine flaring through advanced gas compression systems that channel associated gas to the NLNG plant.

The success of these ultra-deepwater projects demonstrates SAPETRO’s expertise in collaborating with global partners to monetize Nigeria’s vast offshore resources and set industry benchmarks for operational excellence.

Looking forward, SAPETRO aims to pursue new exploration and appraisal opportunities beyond Nigeria’s borders, targeting high-potential markets across West Africa.

African Energy Week (AEW) 2025—the largest energy event on the continent—will provide SAPETRO with a platform to engage African policymakers, global investors, and technical partners in driving projects that support Africa’s energy security and economic development goals.

“SAPETRO exemplifies the vision of a Nigerian oil and gas company leveraging deepwater assets to create value and promote economic growth. AEW offers the perfect platform for such companies to secure strategic deals and partnerships,” said Tomás Gerbasio, VP of Commercial and Strategic Engagement at the African Energy Chamber.