SunTrust Atlantic Energies

What SunTrust Atlantic Energies does

SunTrust Atlantic Energies Limited is a privately-held Nigerian upstream oil and gas exploration and production company incorporated in 2001 (formerly SunTrust Oil) and headquartered in Victoria Island, Lagos. The company operates two core producing assets in the Niger Delta: the Umusadege Field (PML 22, formerly OML 56) where it holds a 30% participating interest and has produced approximately 3,000 barrels of oil per day since 2008, and the Egbolom Field (PML 66, formerly PPL 202) where it holds a 35.82% participating interest and achieved first oil in April 2024 at 2,500 bopd, with full field development and multi-well drilling campaigns underway at both assets.

The company's operations span the upstream value chain from exploration through field development, drilling, production, and crude offtake. Infrastructure includes the Umusadege Early Production Facility with 10 million scf/day of gas processing capacity, a completed gas lift project on the Umusadege flow station, and access to the 52km Umugini crude oil pipeline from Kwale to Eriemu for crude evacuation. SunTrust is a member of the winning Swamp-5 consortium in the 2014 license bid round and is led by CEO Dr. Ugo Okafor, with a management team covering finance, commercial, drilling/wells, legal and compliance, and operations/HSE, supported by 11-50 employees.

The business model is transaction-based commodity sales of crude oil and natural gas, with revenue tied to international oil and gas prices, production volumes, and offtake contractual terms — pricing is not publicly disclosed. The company serves upstream energy operators and investors through joint venture partnerships targeting Nigerian marginal field assets, and targets regional energy buyers across West Africa. Marketing is conducted through direct B2B engagement, industry conferences, and strategic partnerships rather than consumer-facing channels.

Name

SunTrust Atlantic Energies

Legal name

SunTrust Atlantic Energies Limited

Website

https://suntrustatlantic.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

SunTrust Atlantic Energies is a private Nigerian upstream oil and gas company operating the Umusadege and Egbolom fields in the Niger Delta, holding 30% and 35.82% participating interests respectively, producing crude oil and natural gas for sale to regional and international offtake partners.

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas Exploration and Production

NAICS

Oil and Gas Extraction (211), Crude Petroleum Extraction (21112), Crude Petroleum Extraction (211120)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro industry

PRIMARYEUALAAAF

Production Operations & Well Optimization (Artificial Lift, Flow Assurance)

Energy, Utilities & Environment/Oil & Gas (Upstream, Midstream, Downstream and Refining)/Upstream Exploration & Production (E&P)

SECONDARYEUALAAAD

Drilling & Well Construction (E&P Operator-led)

Energy, Utilities & Environment/Oil & Gas (Upstream, Midstream, Downstream and Refining)/Upstream Exploration & Production (E&P)

SECONDARYEUALAAAM

Upstream HSE, Regulatory Compliance & Emissions Management (Methane/Flare)

Energy, Utilities & Environment/Oil & Gas (Upstream, Midstream, Downstream and Refining)/Upstream Exploration & Production (E&P)

Keywords

• Upstream oil and gas
• Crude oil production
• Exploration and production
• Natural gas processing
• Niger Delta operations

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Supply Chain, Personnel, Others

Revenue model

1. Oil and Gas Production: Revenue generated from the sale of crude oil and natural gas produced from operated fields including Umusadege Field (PML 22) and Egbolom Field (PML 66). Current production at Egbolom Field is 2,500 barrels of oil per day with ongoing development. Umusadege Field commenced production in 2008 at approximately 3,000 bopd with continued operations.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

SunTrust Atlantic Energies is an upstream oil and gas exploration and production company that operates two core producing assets in Nigeria's Niger Delta region: the Umusadege Field (PML 22) producing since 2008 and the Egbolom Field (PML 66) which achieved first oil in April 2024. The company acquires participating interests in Nigerian upstream acreage through government marginal field bid rounds, develops and operates the fields, and sells crude oil and natural gas to offtake partners. Current production stands at 2,500 bopd at Egbolom with ongoing multi-well drilling campaigns at both fields.

Product overview

SunTrust Atlantic Energies is an upstream oil and gas exploration and production company operating across West Africa, with a strategic focus on Nigeria's Niger Delta and Gulf of Guinea region. The company operates two core producing assets: the Umusadege Field (PML 22) and the Egbolom Field (PML 66). These fields form the foundation of the company's production portfolio, with operations spanning exploration, field development, drilling campaigns, and crude oil production.

Differentiator

Problem solved

Functional benefit

Products and services

• Umusadege Field (PML 22) Oil and gas field located in Nigeria's Niger Delta region. SunTrust Atlantic holds a participating interest and has operated the field since 2008, with a current multi-well drilling campaign underway to increase oil and gas output.
• Egbolom Field (PML 66) Oil field in Nigeria's Niger Delta. SunTrust Atlantic holds a 35.82% participating interest and achieved first oil in April 2024, currently producing at 2,500 barrels of oil per day with full field development ongoing.

Quantifiable outcome

• Achieved first oil at Egbolom Field in April 2024 with current production at 2,500 bopd
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and key.

• Ingentia Energies LimitedcoreStrategic or Co-development Partner · 1 January 2020Operator of the Egbolom Field (PML 66). Dr. Ugo Okafor served as immediate past Chairman of the Board. Ingentia Energies played an instrumental role in achieving first oil and initiating full field development at Egbolom Field, which commenced production in April 2024.
• Umugini Pipeline Infrastructure LimitedcoreStrategic or Co-development PartnerOwner and operator of a 52km crude oil pipeline from Kwale to Eriemu. SunTrust Atlantic CEO Dr. Ugo Okafor serves on the Operating Committee. This pipeline infrastructure is critical for transporting crude oil production to market.
• Midsun GGF LimitedkeyStrategic or Co-development PartnerA crude oil gathering and processing facility company. SunTrust Atlantic CEO Dr. Ugo Okafor serves on the board. Supports midstream operations for crude oil aggregation and processing.
• Swamp-5 ConsortiumkeyStrategic or Co-development PartnerMember of the winning Swamp-5 consortium in the 2014 license Bid Round, enabling access to additional upstream acreage and partnership opportunities in Nigerian swamp terrain operations.

Scale indicators5 records

Recent moves9 records

Expansion highlights5 records

Market position

Competitive moat4 records

Key risks1 record

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/suntrust-oil-company-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 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 SunTrust Atlantic Energies