SEEPCO
- Company typePrivate
- Founded2003
- HeadquartersLagos, Nigeria
- Headcount251–500
- GTM typeB2B
- OfferingServices
SEEPCO firmographics
Firmographics- Name
- SEEPCO
- Legal name
- Sterling Oil Exploration & Energy Production Co. Ltd.
- Website
- https://stoilmgt.com
- Company type
- Private
- Founded year
- 2003
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Ownership category
- akta.pro rank
SEEPCO industry classification
Industry- Product category
- Crude Oil Exploration and Production
- NAICS
- Oil and Gas Extraction (2111), Crude Petroleum Extraction (211120)
- SIC
- Crude Petroleum & Natural Gas (1311)
- akta.pro primary industry
- Production Operations & Well Optimization (Artificial Lift, Flow Assurance) (EUALAAAF)
- akta.pro secondary industries
- Upstream HSE, Regulatory Compliance & Emissions Management (Methane/Flare) (EUALAAAM), Crude Oil Field Gathering Systems (TLAGAJAA)
Keywords
Where SEEPCO is headquartered
LocationHeadquarters
- HQ city
- Lagos
- HQ country
- Nigeria
- HQ region
- Africa
Offices2 records
Markets served
SEEPCO business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales
Revenue model
- Crude Oil Production and Sales: SEEPCO generates revenue through the exploration, production, and sale of crude oil extracted from its Okwuibome field in Nigeria. The crude oil is sold directly to state-run refining companies, including Indian public-sector refiners Indian Oil Corporation, Bharat Petroleum Corporation Limited, and Hindustan Petroleum Corporation Limited. The company achieved first oil within a record time of two years from signing the PSC in 2005.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels5 records
SEEPCO product offering
Product offeringCore offering
SEEPCO is an upstream oil and gas exploration and production company that extracts crude oil from its Okwuibome field in Nigeria and sells it primarily to Indian state-run refiners (Indian Oil Corporation, Bharat Petroleum Corporation Limited, and Hindustan Petroleum Corporation Limited) under long-term offtake arrangements. The company ships crude via Atlantic routes to bypass the Strait of Hormuz, providing a diversified supply source for energy security purposes.
Product overview
SEEPCO (Sterling Oil Exploration & Energy Production Company Limited) is a Nigeria-based oil exploration and production company that operates as a single-product business focused on crude oil extraction and supply. The company extracts crude oil from its Okwuibome field and supplies it to international refiners. The product offering is a single commodity (crude oil) rather than a platform or software product.
Differentiator
Problem solved
Functional benefit
Products and services
- Crude Oil Production SEEPCO's core product is crude oil extracted from its Okwuibome field in Nigeria under OML-13 license. The crude is sold via long-term offtake agreements to enterprise refiners, primarily Indian state-run public-sector oil refiners, supplying approximately 6 million barrels between March and May 2026.
Quantifiable outcome
- 6 million barrels of crude oil supplied to Indian refiners between March and May 2026
- +3 more outcomes
Companies that use SEEPCO
Customer profileNamed customers3 records
Segments1 record
Ideal customer profiles1 record
SEEPCO technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature8 records
SEEPCO partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core, minor and flagship.
- Akwa Ibom State GovernmentcorePartnership with Akwa Ibom State Government through VCDF to strengthen women's participation in local economies. Training programs in Entrepreneurship Development, Financial Literacy and Business Inclusion provided to 100 women in Eastern Obolo LGA.
- Nigerian Army 6 BattalioncorePartnership with Nigerian Army 6 Battalion in Akwa Ibom State to organize vocational and entrepreneurship training for 100 women across Ankara craft, catering, soap making, and hairdressing. Participants received business start-up kits and 6 months of business development services.
- Vcare for Development Foundation (VCDF)coreOngoing strategic CSR partnership where VCDF implements community development programs supported by SEEPCO. Programs include women's empowerment, healthcare initiatives, education support, environmental campaigns, and blood donation drives. Partnership has generated significant social impact across Nigeria with thousands of beneficiaries.
- Centre for Legal Support and Inmate Rehabilitation (CELSIR)minorPartnership through VCDF to launch Reform360 program providing mental health first aid training to over 100 inmates at Ikoyi Male Medium Security Custodial Centre. Certificates awarded to 107 participants including seven officials.
- Association of Energy Correspondents of Nigeria (NAEC)flagshipSustainability partnership launched at NAEC 2025 Annual Conference dedicated to promoting sustainability awareness, responsible energy practices, and capacity building within media and energy industry. Partnership includes 'Bringing Smiles with Each Barrel' campaign and joint ESG initiatives.
- Nigeria Union of Journalists (NUJ), News Agency of Nigeria (NAN) ChapelminorPartnership supporting 2025 NUJ-NAN Press Week Lecture themed 'Transforming Energy: The Digital Evolution of Oil and Gas.' SEEPCO received Award of Sponsorship Appreciation for commitment to innovation, technology, and sustainability.
- OML-13 Host Community Development Trust (HCDT)coreEstablished under Petroleum Industry Act provisions, the HCDT was inaugurated in 2024 following NUPRC approval. The trust enables communities to directly manage development initiatives including farmland restoration, borehole rehabilitation, and skill-building programs.
- Lagos State Blood Transfusion Service (LSBTS)corePartnership supporting blood donation drives since 2022. VCDF and SEEPCO have contributed over 1,404 pints of blood to Lagos State blood bank, benefiting more than 2,000 patients. SEEPCO launched Employee Blood Donor Club to sustain voluntary blood donation culture.
- Lagos State Waste Management Authority (LAWMA)minorPartnership with LAWMA and Iru-Victoria Island LCDA to conduct Street Hygiene and Cleanliness Campaign in Victoria Island, Lagos. SEEPCO provided sanitation tools and PPE to volunteers for environmental cleanup.
- Lagos State Ministry of EducationminorPartnership with Lagos and Akwa Ibom State Ministries of Education to host Science Project Exhibition and Competition. Initiative inspired young learners in scientific exploration, engaging over 4,000 students and 215 principals and teachers.
Scale indicators10 records
Recent moves6 records
Expansion highlights5 records
SEEPCO competitors and assessment
Company assessmentDirect peers
- ND Western Limited: Nigerian upstream company operating OML 34, focused on crude oil production and gas processing. Directly comparable to SEEPCO as a Nigerian E&P producer operating in similar regulatory and operating environments.
- Seplat Energy Plc: Nigeria-focused independent upstream oil and gas company listed in London and Lagos, producing crude oil and natural gas from onshore assets. Directly comparable to SEEPCO as a mid-tier Nigerian E&P operator selling into international markets.
- Aiteo Group: Nigerian integrated energy company with major upstream crude production at OML 29. Comparable to SEEPCO as a Nigerian E&P of comparable scale producing crude oil for export and refining customers.
- Oando Energy Resources: Nigeria-based upstream oil and gas company with producing assets and midstream operations. Comparable to SEEPCO in operating focus on Nigerian crude production and B2B sales to refiners.
- Yinka Folawiyo Petroleum: Nigerian independent E&P company producing from OML 113 offshore Lagos. Comparable to SEEPCO as a Nigerian upstream operator with crude oil production and refining-customer offtake relationships.
- First Exploration & Petroleum Development Corporation: Nigerian upstream E&P company with onshore and shallow-water assets producing crude oil. Comparable to SEEPCO in mid-tier Nigerian E&P profile, asset scale, and crude-focused product mix.
Broad incumbents
- Sahara Group: Nigeria-headquartered integrated energy company spanning upstream, midstream, and downstream operations across Africa. Comparable to SEEPCO at the upstream production level, though broader in scope.
Regional players
- Orca Exploration Group: Africa-focused upstream company with natural gas and crude oil operations, primarily in Tanzania. Comparable to SEEPCO as a mid-tier African independent E&P of similar scale, though operating in different geography.
Emerging players
- Heirs Holdings: African-focused investment company with significant Nigerian upstream operations including OML 17. Comparable to SEEPCO as a Nigerian E&P operator pursuing both production and integrated energy ambitions.
- Lekoil Limited: West Africa-focused upstream oil and gas company with Nigerian operations. Comparable to SEEPCO as an African-focused mid-tier E&P pursuing Nigerian acreage, though at a smaller and earlier stage.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
SEEPCO social profiles
Digital presenceSEEPCO financial estimates
Financial estimateRevenue estimate
Valuation estimate
SEEPCO leadership team
Management profileNumber of profiles
Profiles5 records
SEEPCO funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SEEPCO M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SEEPCO
What does SEEPCO do?
SEEPCO is an upstream oil and gas exploration and production company that extracts crude oil from its Okwuibome field in Nigeria and sells it primarily to Indian state-run refiners (Indian Oil Corporation, Bharat Petroleum Corporation Limited, and Hindustan Petroleum Corporation Limited) under long-term offtake arrangements. The company ships crude via Atlantic routes to bypass the Strait of Hormuz, providing a diversified supply source for energy security purposes.
Is SEEPCO a public or private company?
SEEPCO is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was SEEPCO founded?
SEEPCO was founded in 2003. It employs 251 to 500 people.
Where is SEEPCO based?
SEEPCO is headquartered in Lagos, Nigeria, in the Africa region.
How does SEEPCO make money?
One revenue line is on record: crude Oil Production and Sales.
Who are SEEPCO's main competitors?
Direct peers on record are ND Western Limited, Seplat Energy Plc, Aiteo Group, Oando Energy Resources, Yinka Folawiyo Petroleum and First Exploration & Petroleum Development Corporation. Sahara Group is listed as a broad incumbent. Orca Exploration Group is listed as a regional player. Emerging players are Heirs Holdings and Lekoil Limited.
Does SEEPCO have an API?
No public API is recorded for SEEPCO.
What industry is SEEPCO in?
SEEPCO's product category is Crude Oil Exploration and Production. Its primary akta.pro industry code is EUALAAAF, Production Operations & Well Optimization (Artificial Lift, Flow Assurance), with a secondary code of EUALAAAM, Upstream HSE, Regulatory Compliance & Emissions Management (Methane/Flare). Its NAICS code is 2111 and its SIC code is 1311.