Nigdel United Oil Company

What Nigdel United Oil Company does

Nigdel United Oil Company Limited is an indigenous Nigerian Exploration and Production (E&P) company operating as the sole operator of Oil Prospecting License (OPL) 233 under a Production Sharing Contract (PSC) with the Nigerian National Petroleum Corporation (NNPC). OPL 233 covers approximately 126 square kilometres in the transition zone and shallow offshore waters of the Niger Delta in Southern Ijaw Local Government Area, Bayelsa State, and contains the Olobia-1 oil and gas discovery well with roughly 124 ft of net oil pay originally drilled by Shell. The block is adjacent to the giant Chevron-operated Apoi-Funiwa field (OML 86, >600 mmboe) and the Middleton field (OML 88), placing Nigdel in a proven hydrocarbon corridor.

The company's core technical activity centers on subsurface de-risking of OPL 233. It is layering a new 3D-2C Ocean Bottom Cable (OBC) seismic survey on top of legacy 2D seismic data acquired by Shell across multiple vintages (1972, 1985, 1988, 1993), supported by 2D seismic reprocessing and interpretation, feasibility studies, Environmental Impact Assessment, and sea-bed hazard surveys. Nigdel states a vision to become the foremost indigenous Nigerian energy company by 2030 through innovative technology and sustainable development, with stated commitments to Health, Safety, Security and Environment (HSSE) excellence and Corporate Social Responsibility programs targeting host communities (including a Back-To-School Campaign).

Commercially, Nigdel operates a single-asset, single-counterparty revenue model governed by its PSC with NNPC, with no disclosed offtake contracts, production start date, or pricing terms. The company maintains three Nigerian offices: a Lagos headquarters on Victoria Island, an operations-support office in Yenagoa (Bayelsa), and an Abuja office for government relations. With 251–500 employees and no public listing, external funding sources, M&A activity, or disclosed revenue, Nigdel remains a privately financed, exploration-stage upstream operator.

Name

Nigdel United Oil Company

Legal name

Nigdel United Oil Company Limited

Website

https://nigdeloil.com

Company type

Private

Operating status

Operating

Headcount range

251–500 employees

Short description

Nigdel United Oil Company Limited is an indigenous Nigerian Exploration and Production company operating Oil Prospecting License (OPL) 233 in the Niger Delta under a Production Sharing Contract with the Nigerian National Petroleum Corporation (NNPC).

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas Exploration and Production

NAICS

Crude Petroleum Extraction (21112), Oil and Gas Extraction (211)

SIC

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

akta.pro primary industry

Field Development Planning & Subsurface Reservoir Engineering (EUALAAAC)

akta.pro secondary industries

Production Operations & Well Optimization (Artificial Lift, Flow Assurance) (EUALAAAF), Drilling & Well Construction (E&P Operator-led) (EUALAAAD)

Keywords

• Oil and gas exploration
• Upstream production services
• Offshore seismic surveys
• Hydrocarbon exploration
• Oil prospecting operations

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Technology or R&D, Personnel, Infrastructure, Supply Chain, Marketing or Sales

Revenue model

1. Oil and Gas Production: Revenue generated from hydrocarbon exploration and production activities as operator of OPL 233 under Production Sharing Contract (PSC) with NNPC.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Nigdel United Oil Company Limited is an indigenous Nigerian Exploration and Production (E&P) company that operates Oil Prospecting License (OPL) 233 under a Production Sharing Contract (PSC) arrangement with the Nigerian National Petroleum Corporation (NNPC). The company's core activity is upstream hydrocarbon exploration and production across the 126 square kilometer license area in the shallow offshore and transition zone of the Niger Delta region, supported by advanced seismic survey, feasibility study, and environmental assessment capabilities.

Product overview

Nigdel United Oil Company is a single-focus Exploration and Production (E&P) company operating as the Operator of Oil Prospecting License (OPL) 233. The company's core offering is oil and gas exploration and production services in the Niger Delta region of Nigeria. Their product portfolio centers on the OPL 233 asset, which includes seismic survey services (3D-2C OBC surveys and 2D seismic reprocessing), feasibility studies, and environmental assessments. The company also operates Corporate Social Responsibility programs as a complementary service offering focused on community development in their host communities.

Differentiator

Problem solved

Functional benefit

Products and services

• Oil & Gas Exploration and Production Services on OPL 233 Exploration and production of hydrocarbons on the OPL 233 license area covering approximately 126 square kilometers in the shallow offshore transition zone of the Niger Delta, under a Production Sharing Contract with NNPC.
• Seismic Survey Services 3D-2C Ocean Bottom Cable (OBC) seismic survey acquisition, reprocessing, and interpretation of 2D seismic and well data to support qualitative and quantitative analysis of hydrocarbon potential and risk minimization.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Nigerian National Petroleum Corporation (NNPC)coreStrategic or Co-development PartnerNigdel is the Operator of OPL 233 under a subsisting Production Sharing Contract (PSC) arrangement with the Nigerian National Petroleum Corporation (NNPC). NNPC serves as the regulatory and partner entity in oil and gas exploration activities.

Scale indicators3 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• ND Western: Nigerian indigenous E&P operator with assets in the shallow offshore Niger Delta. Comparable indigenous upstream operator profile and asset focus.
• Eroton Exploration & Production: Nigerian E&P operator focused on Niger Delta shallow offshore and onshore assets. Comparable in asset type, indigenous operator status and PSC/JV structure.
• Frontier Oil: Nigerian indigenous oil exploration and production company with assets in the Niger Delta. Comparable indigenous E&P operator with similar asset profile and PSC/JV structures.
• Oando Energy Resources: Nigerian integrated E&P company with operated and non-operated upstream interests in the Niger Delta. Comparable as an indigenous Nigerian E&P operator with PSC and JV arrangements.
• Seplat Energy: Leading Nigerian indigenous E&P company with onshore and shallow offshore Niger Delta assets. Directly comparable business model of indigenous upstream operator pursuing production growth in Nigeria.
• Waltersmith Petroman Oil & Gas: Indigenous Nigerian E&P and midstream operator focused on marginal field development in the Niger Delta. Comparable in indigenous operator positioning and asset focus.
• Newcross Exploration & Production: Nigerian indigenous E&P company with shallow offshore and onshore Niger Delta assets. Comparable indigenous operator pursuing upstream growth in Nigeria.
• First Exploration & Petroleum Development Company (First E&P): Indigenous Nigerian E&P company operating shallow offshore and onshore assets in the Niger Delta under JV/PSC structures. Closely comparable in scale and asset type to Nigdel.

Regional players

• Tullow Oil: West Africa-focused independent E&P with significant Ghana and other West African assets. Comparable as an Africa-focused upstream operator, though Tullow is much larger and more diversified.
• Kosmos Energy: West Africa-focused independent E&P with significant Ghana operations. Comparable as a West Africa-focused upstream operator with similar exploration/appraisal profile, though at larger scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/NigdelOil
• LinkedInlinkedin.com/company/nigdel-united-oil-company-limited

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

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 Nigdel United Oil Company