NAM

What NAM does

NAM (Nederlandse Aardolie Maatschappij B.V.) is a Dutch exploration and production company specializing in the extraction of natural gas and oil from Dutch onshore fields, founded in 1947 as a joint venture between Shell and Esso (now ExxonMobil). The company supplies approximately 25% of the Netherlands' natural gas demand — a market in which gas represents ~42% of total national energy use — and historically operated the Groningen gas field, one of the world's largest at 2,800 bcm of original recoverable reserves. Following the Huizinge-induced-seismicity events (2012) and regulatory action, Groningen production ended on October 1, 2023 and the field was formally closed by law on April 19, 2024. NAM's offshore North Sea subsidiary was divested to Tenaz Energy in May 2025 for €165 million.

The operating model combines production from 175 small gas fields across six Dutch provinces, oil production near Rotterdam and (historically) Schoonebeek, two underground gas storage facilities at Norg and Grijpskerk (UGS Grijpskerk: 1.5 bcm working volume, 14 million m³/day injection, 61 million m³/day send-out), and one of the largest industrial decommissioning programs in Dutch history — dismantling 300+ Groningen production wells and ~400 km of pipelines through the C-Turn consortium with WellGear and Arcadis. Revenue mechanics rest on natural gas sales into the Dutch national transmission network, third-party UGS storage tariffs (offered on a first-come, first-served basis), and contractual decommissioning work; downstream wholesale information services are delivered via NAM Zakelijk.

Energy-transition activities include hydrogen storage research in depleted fields, blue hydrogen development via the H2Gateway consortium, infrastructure reuse (e.g., the GZI Next energy hub in Emmen), and sourcing 100% green electricity for operations since 2024. NAM holds ISO 14001 certification (since 1999) and operates under Dutch mining law supervision (SodM). The company is privately held, headquartered in Assen (relocating to Sappemeer at end of 2026), and operates within a 1,001–5,000 employee range.

Name

NAM

Legal name

Nederlandse Aardolie Maatschappij B.V.

Website

https://nam.nl

Company type

Private

Founded year

1947

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

NAM (Nederlandse Aardolie Maatschappij) is a Dutch private oil and gas producer, jointly owned by Shell and ExxonMobil since 1947, that supplies ~25% of the Netherlands' natural gas demand from small fields, operates underground gas storage at Norg and Grijpskerk, and is decommissioning the historic Groningen field.

Ownership category

akta.pro rank

Product category

Oil and Gas Exploration & Production

NAICS

Natural Gas Extraction (21113), Oil and Gas Extraction (211)

SIC

Crude Petroleum & Natural Gas (1311), Natural Gas Transmisison & Distribution (4923), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Conventional Natural Gas Exploration & Production (Dry Gas) (EUAAAAAA)

Keywords

• Natural gas production
• Oil and gas exploration
• Underground gas storage
• Well decommissioning services
• Energy infrastructure

Headquarters

HQ city

Assen

HQ country

Netherlands

HQ region

Europe

Offices10 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D, Others

Revenue model

1. Natural Gas Production and Sales: NAM explores for and produces natural gas and oil from Dutch onshore and offshore fields. Natural gas is supplied to Dutch households and businesses, with NAM supplying 25% of Dutch natural gas demand. Production comes from small fields across six Dutch provinces and from the now-closed Groningen field. NAM also produces oil from fields near Rotterdam and Schoonebeek.
2. Underground Gas Storage Services: NAM offers third-party access to its underground gas storage facilities at UGS Grijpskerk and UGS Norg. Services include bundled gas storage capacity on a first-come, first-served basis, with UGS Grijpskerk offering 1.5 bcm working volume, 14 million m³/day max injection, and 61 million m³/day max send-out.
3. NAM Zakelijk — Wholesale Energy Market Services: NAM provides information and services related to the wholesale energy market, including regulatory publication obligations around availability of facilities, planned maintenance, and other relevant market information for energy wholesale market parties.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

NAM explores, develops and produces natural gas and oil from the Dutch subsurface across onshore small fields in six provinces and the now-closed Groningen gas field. The company also operates two underground gas storage facilities (UGS Norg and UGS Grijpskerk) for low-calorific gas and is responsible for decommissioning former production sites, well plugging and abandonment, and pipeline cleanup. Following the closure of the Groningen field in 2024 and the sale of offshore operations to Tenaz Energy in 2025, NAM is shifting toward small-field production, underground storage services, and large-scale decommissioning activities.

Product overview

NAM (Nederlandse Aardolie Maatschappij) is an exploration and production company operating in the Dutch energy sector. The company's core product portfolio consists of onshore and offshore natural gas and oil production, supplemented by underground gas storage services at Norg and Grijpskerk. Following the closure of the Groningen gas field in 2024 and the sale of offshore activities to Tenaz Energy in 2025, NAM's operations have shifted toward decommissioning and cleanup of former production sites, infrastructure reuse for energy transition purposes, and research into hydrogen storage. The company also provides third-party access to its underground gas storage facilities and offers environmental monitoring through a dedicated mobile application.

Differentiator

Problem solved

Functional benefit

Products and services

• Natural Gas Production Exploration and production of natural gas from onshore fields across six Dutch provinces and previously from the Groningen field; gas is delivered via the national gas transmission network, supplying approximately 25% of Dutch natural gas demand.
• Oil Production Extraction of crude oil from fields near Rotterdam and Schoonebeek using enhanced oil recovery techniques, including horizontal wells, high-efficiency pumps, and steam injection.
• Underground Gas Storage (UGS) Operation of two underground gas storage facilities at Norg and Grijpskerk storing low-calorific gas during summer months for delivery during peak winter demand. UGS Grijpskerk has a working volume of 1.5 bcm, max injection of 14 million m³/day, and max send-out of 61 million m³/day.
• Third-Party Access to UGS Grijpskerk Offering of bundled gas storage capacity at UGS Grijpskerk to third parties (wholesale energy market participants) on a first-come, first-served commercial basis, with specified injection and send-out capacities.
• Decommissioning and Site Cleanup Safe plugging and abandonment of production wells, removal of underground pipelines, dismantling of above-ground installations, and restoration of land to its original state across former Groningen and other production locations, executed through the C-Turn consortium with WellGear and Arcadis.
• NAM Zakelijk Wholesale Energy Market Services NAM Zakelijk provides services to wholesale energy market parties, including regulatory publication obligations, facility availability information, planned maintenance schedules, and other market-relevant information for energy wholesale market participants.

Quantifiable outcome

• NAM supplies 25% of Dutch natural gas demand, with natural gas accounting for 42% of all energy used in the Netherlands
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

13 partnerships are on record, tiered major, core and minor.

• Tenaz Energy Corp.majorStrategic or Co-development Partner · 1 July 2024NAM signed an agreement to sell NAM Offshore B.V. to Tenaz Energy Corp. for €165 million in July 2024. The transaction was finalized in May 2025, ending NAM's offshore gas exploration and production activities on the North Sea after more than 65 years. This represents one of NAM's most significant strategic transitions, divesting its offshore business unit entirely.
• WellGearcoreStrategic or Co-development PartnerWellGear is a specialist partner in NAM's decommissioning program, focused on the safe plugging and abandonment of production wells. NAM, WellGear, and Arcadis together form the C-Turn consortium responsible for decommissioning over 300 wells, dozens of production locations, and hundreds of kilometers of underground pipelines from the Groningen gas field and other NAM facilities.
• ArcadiscoreImplementation/ SI/ Consulting PartnerArcadis serves as the engineering consultancy responsible for decommissioning above-ground installations and restoring land to its original state as part of NAM's cleanup operations in the Groningen gas field and other regions. Arcadis works alongside WellGear and NAM in the C-Turn consortium.
• C-Turn (NAM-WellGear-Arcadis Consortium)coreStrategic or Co-development PartnerC-Turn is the joint consortium established by NAM, WellGear, and Arcadis to handle the decommissioning of NAM's production infrastructure. NAM retains ultimate responsibility for the safe closure of production wells and site cleanup. The consortium is executing one of the largest industrial decommissioning operations in Dutch history.
• Element NLcoreStrategic or Co-development PartnerElement NL is the industry association representing 12 companies with Dutch permits for oil and gas exploration and production. NAM participates in Element NL, which conducts research into possible gas reserves in Dutch territory and the North Sea, and coordinates industry positions on decommissioning through its subsidiary Nexstep.
• EBN (EBN B.V.)coreStrategic or Co-development PartnerEBN is the Dutch state participation company in oil and gas, partnered with Element NL in the Nexstep initiative to promote reuse and collaboration in decommissioning oil and gas infrastructure in the Netherlands, contributing to the energy transition.
• NexstepminorStrategic or Co-development PartnerNexstep is the joint initiative of EBN and the Dutch oil and gas industry (via Element NL) to stimulate the application of reuse and collaboration in decommissioning oil and gas infrastructure in the Netherlands. The initiative aims to share knowledge and experience, stimulate innovation, and promote effective and efficient regulation for energy transition purposes.
• GZI Next Consortium (EMMTEC services, New Energy Coalition, NOM, Gasunie)minorStrategic or Co-development PartnerNAM transferred its former Gas Purification Installation (GZI) in Emmen to a consortium developing the site as an energy hub called 'GZI Next.' Partners include EMMTEC services, New Energy Coalition, NOM, and Gasunie, aiming to reuse the infrastructure for sustainable energy generation and development.
• New Energy CoalitionminorStrategic or Co-development PartnerNew Energy Coalition is a growing network of knowledge institutions, companies, government bodies, and NGOs working together to accelerate the energy transition for a sustainable future. NAM participates in this network as part of its energy transition strategy.
• H2Gateway ConsortiumminorStrategic or Co-development PartnerH2Gateway is an initiative for a blue hydrogen plant in the port of Den Helder, linked to the hydrogen backbone, for the production of blue hydrogen for industry. NAM is working together with business partners and public parties to investigate the possibilities of blue hydrogen.
• North Sea EnergyminorStrategic or Co-development PartnerNorth Sea Energy is a public-private research program with more than 30 (inter)national participants investigating how the potential of the North Sea can be used for a climate-neutral energy system through integrated approaches, smart connections between energy functions, and significant CO₂ reduction.
• Industrietafel Noord Nederland (INN)minorStrategic or Co-development PartnerThe Industrietafel Noord Nederland is a collaboration between companies in the industrial clusters of Delfzijl and Emmen and surroundings. The partnership aims to realize CO₂ reduction in industry and strengthen the competitiveness of enterprises in Groningen and Drenthe. INN is part of SBE, an employers' organization in the northern region.
• DOSTA Project PartnersminorStrategic or Co-development PartnerThe DOSTA project (Developing Offshore Storage and Transport Alternatives) investigates possibilities for offshore energy storage (including conversion to hydrogen via electrolysis) and alternative methods for transporting electricity and/or hydrogen to shore in the Dutch North Sea.

Scale indicators10 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Gasunie: Gasunie operates the Dutch national gas transmission network and gas storage infrastructure, and is a partner with NAM in the GZI Next energy hub and hydrogen initiatives. Comparable as a Dutch gas infrastructure operator with storage assets and a transition mandate.
• ONE-Dyas: ONE-Dyas is a Netherlands-rooted upstream operator producing natural gas from Dutch and North Sea fields, including under the Wadden Sea. Directly comparable to NAM as a Dutch-focused gas E&P company navigating the same regulatory and seismic-risk environment.
• Neptune Energy: Neptune Energy operates North Sea gas production and is now part of Eni. Comparable to NAM's former offshore gas business (which was sold to Tenaz Energy) in terms of basin, asset profile, and decommissioning obligations on Dutch and UK Continental Shelf fields.
• Wintershall Dea: Wintershall Dea is a major European E&P company with significant North Sea gas production, German onshore operations, and active decommissioning programs. Closely comparable to NAM's combined onshore/offshore gas profile and its focus on European energy security and storage.
• Spirit Energy: Spirit Energy is a European-focused gas and oil producer with substantial North Sea and Dutch sector assets. Comparable to NAM as a mid-sized European E&P with a similar mix of mature producing fields and decommissioning obligations.
• EBN B.V. EBN is the Dutch state participation company that holds minority interests in nearly all Dutch oil and gas exploration and production licenses, including NAM's fields. It co-runs the Nexstep decommissioning and reuse initiative with NAM, making it the closest institutional peer in Dutch upstream and energy-transition infrastructure.

Broad incumbents

• Equinor: Equinor is the Norwegian state oil and gas major with extensive North Sea operations, gas storage, and an active energy-transition portfolio including hydrogen and CCS. Comparable to NAM as a national-scale gas producer transitioning toward low-carbon, but far larger and more diversified.
• ExxonMobil (Netherlands upstream): ExxonMobil is NAM's other 50% parent and a global supermajor with historical Dutch upstream involvement. Comparable as a producer with Dutch upstream exposure, though vastly larger scale and globally diversified across upstream, refining, and chemicals.
• Shell (Netherlands upstream): Shell is NAM's 50% parent and operates Dutch and global upstream assets that overlap NAM's portfolio. Comparable as a producer with Dutch upstream exposure, though Shell is materially larger, globally diversified, and integrated downstream.
• TotalEnergies: TotalEnees is a global integrated energy major with North Sea and Dutch sector presence, alongside gas, LNG, and renewables. Comparable to NAM as a global producer with European gas exposure and an aggressive energy-transition pivot, though at very different scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/nambv
• YouTubeyoutube.com/channel/UCt3ZLGyqqvwJTlwsUANWo7g/featured
• Facebookfacebook.com/NederlandseAardolieMaatschappij.BV
• LinkedInlinkedin.com/company/nam

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NAM