Amni International Petroleum Development

What Amni International Petroleum Development does

Amni International Petroleum Development Company Limited is an independent Nigerian oil and gas exploration and production company founded in 1993 and headquartered in Lagos, Nigeria. With over 30 years of continuous offshore production experience, Amni pioneered indigenous participation in Nigerian offshore E&P at a time when the sector was dominated by international oil companies. The company operates IMA Oil Field (100% WI), IMA Gas Field (60% WI, Total 40%), Okoro and Setu fields in OML 112 (100% WI), and is developing the Tubu Field in OML 52 (40% WI, operator, NNPC 60%); it also holds an 85% operated working interest in Ghana's Central Tano Block. Current production from IMA and Okoro is approximately 22,000 bopd, with Okoro having peaked at 22,000 BOPD in 2018 and a 2025 CPR upgrading Okoro reserves from 5.4 MMbbls to 14 MMbbls.

Amni owns and operates its own integrated offshore infrastructure, including the Princess Aweni FPSO at Okoro, the Langley Mobile Offshore Production Unit (MOPU) and FSO Ailsa Craig-1 at IMA, plus wellhead platforms and a pipeline network — including an 11 km pipeline from Tubu to the Langley host facility. This asset ownership enables the company to process, store and export crude in one million barrel parcels directly to export tankers. Gas reserves total 3.5 trillion cubic feet, with Ima Gas Field holding confirmed P1 reserves of over 1.6 TCF of lean gas, and development toward gas production is underway in partnership with Total with proximity to NLNG enabling market access. Independent reserves evaluation (3D seismic acquired 2012) supports field development planning.

Revenue is generated predominantly from B2B crude oil sales to international buyers, trading houses, and refineries, with developing gas sales in partnership with Total. Two large debt facilities — a $260M facility with GTB/Shell in 2018 and a $326M facility with GTBank in 2020 — have funded capital programs including Okoro further field development and the Tubu development programme. Amni holds a deep local content commitment (over 50% of business to local contractors) and operates London, The Woodlands (Texas), Accra, and Port Harcourt offices in addition to its Lagos head office. The company is privately held and is governed by an eight-member Board with leadership including Chief Tunde J. Afolabi (Chairman/CEO and founder), Olajide Farinre (GCOO), and Leke Ogunlewe (GCFO), with Ryan Birkenfeld leading Amni Resources.

Name

Amni International Petroleum Development

Legal name

Amni International Petroleum Development Company Limited

Website

https://amni.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

101–250 employees

Short description

Amni International Petroleum Development is an independent Nigerian oil and gas exploration and production company operating offshore fields (IMA, Okoro/Setu, Tubu) in Nigeria and the Central Tano Block in Ghana, owning FPSO/MOPU/FSO infrastructure and producing approximately 22,000 bopd.

Ownership category

akta.pro rank

Product category

Oil and Gas Exploration and Production

NAICS

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

SIC

Crude Petroleum & Natural Gas (1311), Oil & Gas Field Exploration Services (1382)

akta.pro primary industry

Offshore E&P (Shallow/Deepwater, Subsea Production Systems) (EUALAAAI)

akta.pro secondary industry

Offshore Natural Gas E&P (Shallow & Deepwater) (EUAAAAAF)

Keywords

• Offshore oil production
• Crude oil exploration
• Natural gas reserves
• Upstream E&P
• FPSO operations

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Marketing or Sales

Revenue model

1. Crude Oil Sales: Amni generates revenue from the sale of crude oil produced from its offshore fields (IMA, Okoro/Setu, Tubu). Production is stored and offloaded from FPSO/FSO vessels in one million barrel parcels to export tankers. Okoro field reached a production peak of 22,000 BOPD in 2018. IMA field has been producing since 1996.
2. Gas Sales: Amni holds significant gas reserves (3.5 tcf reported) including the Ima Gas Field (NAG) with confirmed reserves of over 1.6 TCF (P1). Development toward gas production is underway in partnership with Total, with proximity to NLNG facilities enabling access to gas markets.
3. Financing Facilities: Amni secured a $260 million facility in 2018 with GTB/SHELL and a $326 million facility in 2020 with GTBank to consolidate facilities, drill development wells, and fund project development. These are debt financing arrangements supporting capital expenditure programs.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Amni International Petroleum Development is an independent oil and gas exploration and production (E&P) company that operates offshore hydrocarbon assets in West Africa, primarily in Nigeria (OML 112, OML 117, OML 52) and Ghana (Central Tano Block). The company produces crude oil and natural gas from fields including IMA, Okoro/Setu, and Tubu, and owns and operates the integrated production infrastructure (wellhead platforms, Mobile Offshore Production Unit, FPSO, FSO vessels, and pipeline networks) required to process, store, and export hydrocarbons to international buyers.

Product overview

Amni International Petroleum Development Company Limited is an Independent Oil & Gas Exploration & Production (E&P) company operating offshore fields in West Africa. The company's portfolio comprises multiple producing and development-stage oil and gas assets: IMA Oil Field and IMA Gas (OML 112/117, Nigeria), Okoro and Setu fields (OML 112, Nigeria), Tubu Oil Field (OML 52, Nigeria), and Central Tano Block (Ghana). Amni owns and operates its own infrastructure including the Langley Production Platform, FSO Ailsa Craig-1, and the Princess Aweni FPSO, enabling full-cycle exploration, development, and production operations.

Differentiator

Problem solved

Functional benefit

Products and services

• IMA Oil Field Offshore oil field in OML 112, Nigeria with production since 1996. Amni holds 100% working interest with 24 production wells drilled, utilizing a Well Head Platform and Mobile Offshore Production Unit connected to the Langley facility.
• IMA Gas Field Non-Associated Gas (NAG) reserves lying above the IMA Oil Field. Amni holds 60% working interest with Total holding 40%, with confirmed reserves of over 1.6 TCF of lean gas.
• Okoro Oil Field Offshore oil field in OML 112, Nigeria with 100% Amni-operated interest. Contains 34 active wells including 4 new wells drilled in 2016 and 2 new wells drilled in 2018, using the FPSO Princess Aweni vessel for processing and storage.
• Setu Field Offshore oil field located 6.5km north of Okoro in OML 112. Discovered by Amni in 2002 and currently a development-stage field.
• Tubu Oil Field

Quantifiable outcome

• Current production approximately 22,000 bopd from producing fields (IMA and Okoro)
• +4 more outcomes

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

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

• Nigerian National Petroleum Corporation (NNPC)coreStrategic or Co-development Partner · 1 January 2015NNPC holds 60% participating interest in OML 52 (Tubu Field), with Amni OML 52 holding 40% and operating the license. NNPC also holds interests in OML 112 and OML 117 alongside Amni. In 2023, a carry funding agreement terms were agreed with NNPCL for Tubu development.
• Total (through Total E&P Nigeria Ltd)coreStrategic or Co-development Partner · 1 January 2005Total entered into a Joint Venture Agreement with Amni in 2005, acquiring a 40% working interest in both OML 112 and OML 117. Total participates in the Ima Gas Field development. Amni holds 60% as operator.
• Liberty Technical Services (Abacan Resources Canada)minorStrategic or Co-development PartnerLiberty Technical Services, a subsidiary of Abacan Resources of Canada, was Amni's initial technical partner from 1995-1998 during early exploration and drilling activities at IMA field. The partnership was dissolved in 1998 when Amni assumed sole operatorship.
• Ghana National Petroleum Corporation (GNPC)majorStrategic or Co-development PartnerGNPC holds a 10% interest in the Central Tano Block (offshore Ghana), with Amni holding 85% as operator. The block is in the Deepwater Tano Basin, bounded by the Jubilee Field to the east and TEN Fields to the west.
• WCW International Company LimitedminorStrategic or Co-development PartnerWCW International Company Limited holds a 5% carried interest in the Central Tano Block, offshore Ghana.
• AFREN (formerly technical partner in OML 112)minorStrategic or Co-development PartnerAFREN was a technical partner that farmed into OML 112 in 2006 and drilled the successful Okoro-3 exploration well that proved reserves enabling Okoro development. Total had previously farmed into OML 112 in 2006.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Seplat Energy Plc: Seplat Energy is the largest Nigerian independent E&P with a dual London/Lagos listing. It produces onshore and shallow offshore oil and gas via operated and non-operated JVs, and pursues offshore gas development — closely comparable in scale, asset mix, and indigenous-operator positioning to Amni.
• Oando PLC: Oando is a Nigerian independent with integrated upstream and downstream operations, holding interests in onshore/shallow offshore licenses (OMLs) via its Oando Energy subsidiary. Comparable indigenous Nigerian upstream operator with similar JV-driven field structure to Amni.
• Aiteo Eastern Exploration & Production Company Ltd: Aiteo is a leading indigenous Nigerian independent E&P operator of OML 29 and a key crude contributor. Its indigenous-operator, JV-funded upstream model mirrors Amni's approach to operating offshore Nigerian fields with NNPC and partners.
• First Exploration & Petroleum Development Co. (First E&P): First E&P is a Nigerian independent focused on shallow water offshore and deepwater assets in JV with NNPC, producing from OMLs 83 and 85. Its indigenous-operator, JV-funded upstream model directly parallels Amni's strategy in OML 112 and OML 52.
• Sahara Energy Group Ltd: Sahara Energy is a Nigerian energy group with upstream exploration, production, and trading operations across West Africa. Its integrated upstream/trading footprint and pan-West-African ambitions closely track Amni's operator-plus-export model.

Emerging players

• Oranto Petroleum Ltd: Oranto is an emerging Nigerian independent E&P with a pan-African acreage portfolio targeting marginal fields and IOC divestments across West Africa. Its growth strategy via licensing rounds and JV-led development is highly comparable to Amni's stated expansion thesis.
• Lekoil Ltd: Lekoil is a small Nigeria-focused independent E&P with shallow offshore and onshore acreage via JV financing. Comparable in scale, indigenous model, and capital-pooling strategy, though materially smaller and earlier-stage than Amni.
• Waltersmith Petroman Oil Ltd: Waltersmith is an emerging Nigerian independent E&P operator of the Ibigwe field with ambitions to grow via onshore and shallow offshore asset acquisitions. Its indigenous upstream growth thesis is comparable to Amni's, though active in onshore rather than offshore.

Regional players

• Tullow Oil plc: Tullow operates the adjacent Jubilee and TEN Fields in Ghana's Tano Basin, immediately next to Amni's Central Tano Block. Comparable in deepwater West African offshore E&P execution, exploration/appraisal cadence, and crude export logistics.
• Kosmos Energy Ltd: Kosmos Energy is a US-listed independent E&P with producing assets in Ghana (Jubilee and TEN). It is a natural regional peer for Amni's Central Tano Block exploration and provides a benchmark for deepwater West African offshore economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries3 records

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 Amni International Petroleum Development