NewcrossEP

What NewcrossEP does

Newcross Exploration and Productions Limited (NewcrossEP) is an indigenous Nigerian upstream oil and gas company established in 2013 as a wholly-owned subsidiary of Newcross Petroleum Limited, operating under Production Sharing Contracts (PSCs) with the Nigerian National Petroleum Company (NNPC Ltd). The company is the operator of the OML 24 block (covering 162 sq.km onshore western Niger Delta, approximately 40km south-west of Port Harcourt) where it holds a 45% participating interest acquired from the NNPC/SPDC/TOTAL/NAOC Joint Venture in November 2014. OML 24 contains three producing fields — Awoba, Awoba North West, and Ekulama — serviced by three flow stations with a combined nominal capacity of 130,000 bpd (Ekulama I at 30 Mbpd, Ekulama 2 at 60,000 bpd, Awoba at 40,000 bpd), as well as the Awoba Gas Plant, a 55 mmscf/D Tri-ethylene Glycol (TEG) facility commissioned in 2004 for associated gas treatment.

The company's product portfolio centers on crude oil production and gas processing, with hydrocarbons evacuated via the Nembe Creek Trunk Line (NCTL) to the Bonny terminal for export. NewcrossEP has also expanded into a second producing asset via its OML 152 position (Efe field, 1,272 sq.km in the North central Niger Delta) where inaugural crude commercialization was achieved in November 2023 with 290,000 barrels lifted, supported by a 33km dual oil and gas pipeline completed in January 2022 and a 5,000 bbls/d Early Production Facility. Related group interests include a 12.5% equity stake in the PNG Gas Plant at Ebedei (a 30 mmscf/d LPG/Propane processing facility), a 45% interest in onshore OPL 276 in Akwa-Ibom State (jointly with Lekoil276), and the NewX alternative-energy sub-brand focused on sustainable solutions for Sub-Saharan Africa. Technologically, NewcrossEP has developed RADA-AMS, a proprietary digital Research and Data Analytics Asset Management Solution that integrates data acquisition and analytics across E&P operations to streamline workflows and enable near real-time data-driven decision making.

The company's revenue model is built on commodity oil and gas production under PSC economics, with market-determined pricing tied to international benchmarks (WTI, Brent) and a 45% participating interest share on production volumes. Revenue streams span crude oil production and sales, gas processing via the Awoba TEG plant and the PNG Gas Plant partnership, and natural gas liquids (LPG/NGL/propane/lean gas) production. The company serves NNPC and its PSC partners as its primary counterparty, with offtake relationships to LPG/NGL buyers and industrial gas consumers. Distribution occurs via the NCTL pipeline to Bonny terminal for crude exports, the 33km Efe pipeline tied to Ogharefe processing for OML 152 production, and direct sales from the PNG Gas Plant to regional LPG/NGL offtakers.

Name

NewcrossEP

Legal name

Newcross Exploration and Productions Limited

Website

https://newcross.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

51–100 employees

Short description

NewcrossEP is an indigenous Nigerian independent oil and gas exploration and production company operating the OML 24 block (45% participating interest) and developing OML 152 under Production Sharing Contracts with NNPC Ltd, producing crude oil and processed gas across the Niger Delta.

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas Exploration & Production

NAICS

Crude Petroleum Extraction (21112)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Associated Gas Production (Oil-Linked) (EUAAAAAB)

Keywords

• Oil and gas exploration
• Upstream production
• Crude oil production
• Gas processing services
• Onshore oil fields

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Crude Oil Production and Sales: Production and commercialization of crude oil from OML 24 assets (Awoba, Awoba North West, and Ekulama fields). Oil transported via Nembe Creek Trunk Line (NCTL) to Bonny terminal for export.
2. Gas Processing and Sales: Processing and sale of associated gas through TEG plant at Awoba with 55 mmscf/D capacity. Gas exported to meet dew point pipeline specifications.
3. Natural Gas Liquids (NGL/LPG): Equity stake in PNG Gas Plant processing 30 mmscf/d of wet gas to produce LPG, NGL, lean gas and propane for various offtakes.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

NewcrossEP is an independent indigenous Nigerian upstream oil and gas company that operates the 162 sq. km OML 24 block under PSC arrangements, producing crude oil from three fields (Awoba, Awoba North West, Ekulama) with a combined nominal capacity of 130,000 bpd. It also processes associated gas via a 55 mmscf/D TEG plant and holds a 12.5% equity stake in the PNG Gas Plant that processes 30 mmscf/d of wet gas into LPG, NGL, lean gas and propane.

Product overview

NewcrossEP is a Nigerian independent oil and gas exploration and production company and one of the operating subsidiaries of Newcross Petroleum Limited. The company operates primarily through its flagship OML 24 asset, comprising three producing fields (Awoba, Awoba North West, and Ekulama) with associated flowstations and processing facilities. NewcrossEP's product portfolio includes the RADA-AMS digital asset management solution, multiple oil/gas separation flowstations (Ekulama I at 30Mbpd, Ekulama 2 at 60,000 bpd, Awoba at 40,000 bpd), and the Awoba Gas Plant (55 mmscf/D TEG facility). Related group companies include Newcross Petroleum (parent), Newcross Energy (LPG/gas processing), and NewX (alternative energy).

Differentiator

Problem solved

Functional benefit

Brands

• Newcross Petroleum: Part of the Newcross group specializing across the oil and gas value chain, including exploration, drilling, development, processing, storage, trading, and distribution solutions.
• Newcross Energy
• NewX

Products and services

• Newcross Exploration & Production Limited (NewcrossEP) Independent domestic upstream oil and gas company operating the 162 sq. km OML 24 block (Awoba, Awoba North West, Ekulama fields) under PSC with NNPC Ltd, producing crude oil for export via NCTL and gas processing via the Awoba TEG plant.
• RADA-AMS (Research and Data Analytics – Asset Management Solution) Proprietary digital asset management solution that integrates data acquisition and analytics across the organization to support data-driven decision-making in upstream E&P operations.
• Ekulama I Flowstation Single bank, two-stage (HP and LP) two-phase oil/gas separation facility commissioned in 1972 with 30,000 bpd nominal production capacity and unmanned automatic pneumatic instrumentation.
• Ekulama 2 Flowstation Double bank, two-stage two-phase oil/gas separation station commissioned in January 1972, with 60,000 bpd nominal capacity and an on-site Field Logistics Base for employees.
• Awoba Flowstation (Bille-2) Single train, three-stage (XHP, HP and LP) two-phase separation station commissioned in May 1992 with approximately 40,000 bpd production capacity, serving the Awoba field.
• Awoba Gas Plant (TEG) Tri-Ethylene Glycol (TEG) gas processing plant with 55 mmscf/D capacity built in 2004 to treat associated gas from the Awoba flowstation to meet dew point pipeline specifications for export.
• OML 152 (Efe Field) Development Oil Mining Lease operated under PSC with NNPC in the North central Niger Delta (1,272 sq. km) featuring the Efe field with 20 hydrocarbon bearing sands, a 33 km dual oil and gas pipeline, and a 5,000 bbls/d Early Production Facility.
• Ekulama-16L Well Restoration Project Workover and well restoration project to re-establish production from the Ekulama-16L well after approximately 30 years of inactivity, demonstrating NewcrossEP's mature-field rehabilitation capability.
• PNG Gas Plant Equity Stake (LPG/NGL Processing) Minority equity interest in the 30 mmscf/d PNG Gas Plant at Ebedei, Delta State, which processes wet gas from the Egbaoma flow station into LPG, NGL, lean gas and propane for sale to industrial and domestic offtakers.

Quantifiable outcome

• Ekulama-16L restored to 800+ BOPD production after 30 years of inactivity
• +2 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Five partnerships are on record, tiered core.

• NNPC (Nigerian National Petroleum Corporation)coreStrategic or Co-development Partner · 1 November 2014Joint venture partnership under Production Sharing Contract for OML 24 operations. NNPC serves as concessionaire while NewcrossEP holds 45% participating interest and operatorship. Transaction closed November 1, 2014.
• Platform Petroleum LimitedcoreStrategic or Co-development Partner · 1 January 2012Joint venture partner at Egbaoma marginal field (OML 38) where Platform operates the field with NPL holding 40% participating interest. Also partner in Ase River Transport Limited midstream operations.
• PNG Gas Plant Partnership (Gas Train/Owel-Linkso Group, Platform Petroleum, MOS Energy)coreStrategic or Co-development Partner · 1 January 2011Newcross Energy holds 12.5% equity in the 30 mmscf/d LPG/Propane processing plant at Ebedei, Delta State. Partnership processes wet gas from Egbaoma flow station.
• Rayflosh Petroleum LimitedcoreChannel Partner/ Reseller/ DistributorLocal content vehicle (LCV) partner holding 10% participating interest in OPL 283 (OML 152) under PSC arrangement with NNPC.
• Lekoil276 LimitedcoreStrategic or Co-development PartnerJoint operating agreement partner for OPL 276 holding 45% interest alongside NPL (45%) and Albright Waves (10%). In 2024, JV partners secured 24-month licence extension for accelerated work program.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Aiteo Group: Nigerian integrated energy company with significant upstream operations (operator of OML 29, acquired ND Western). Directly comparable indigenous operator profile, post-IOC-divestment strategy, and Niger Delta onshore asset base.
• ND Western Limited: Indigenous Nigerian operator of OML 34 (formerly Shell interest). Direct comparable in post-IOC-divestment indigenous operating model and Niger Delta PSC/JV asset base.
• Oriental Energy Resources: Indigenous Nigerian upstream operator focused on marginal field development in the Niger Delta. Comparable asset category (marginal fields), indigenous operator profile, and PSC-based structure.
• Waltersmith Petroman Oil: Indigenous Nigerian oil & gas company operating marginal fields in the Niger Delta. Comparable indigenous operator with PSC-backed marginal field development focus.
• Eroton Exploration & Production: Nigerian indigenous E&P company that acquired OML 18 from Shell in a similar divestment transaction. Direct comparable in indigenous operator profile, Niger Delta onshore acreage, and post-IOC-divestment operating model.
• Oando Energy Resources: Indigenous Nigerian upstream oil & gas company with operated and non-operated interests in onshore Niger Delta fields under PSC/JV structures. Closely comparable indigenous operator profile, asset base, and PSC-driven regulatory dynamics as NewcrossEP.
• Seplat Energy: Leading indigenous Nigerian oil & gas exploration and production company listed on the London and Lagos stock exchanges. Operates onshore and shallow offshore assets in the Niger Delta under JV/PSC arrangements — directly comparable business model, customer base, and asset geography to NewcrossEP.
• First Exploration & Petroleum Development (First E&P): Indigenous Nigerian E&P operator in JV with NNPC on OMLs 83 and 85. Comparable PSC/JV structure, indigenous operator positioning, and Niger Delta operational base.

Others

• Heads of Oil and Gas (an NNPC JV vehicle): Ecosystem participant in the same NNPC-led PSC/JV framework that underpins NewcrossEP's operations; relevant as a structural counterparty and ecosystem reference for PSC-based Nigerian upstream operators.

Broad incumbents

• NNPC Exploration & Production (NEPL): State-owned upstream arm of NNPC Limited, partnering with indigenous operators via PSCs across multiple OMLs. Comparable PSC operating environment but operates as concessionaire/incumbent rather than as an indigenous private operator.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/newcrossep
• LinkedInlinkedin.com/company/newcrossep

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 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 NewcrossEP