What San Leon Energy does

San Leon Energy plc is an independent upstream oil and gas exploration, development and production company incorporated in the Republic of Ireland (registered number 237825) and headquartered in Dublin, with operational focus on Nigeria and a residual portfolio across Ireland, Albania and Spain following the 2026 sale of its Polish subsidiaries. Its core asset is the OML 18 onshore oil mining lease in Nigeria, held through wholly-owned Midwestern Leon Petroleum Limited, where production rates were approximately 10,000 barrels of oil per day alongside gas production as of 2024. San Leon's differentiator is its stake in the Alternative Crude Oil Evacuation System (ACOES), comprising a 47-kilometre undersea pipeline and the FSO ELI Akaso floating storage and offloading terminal with throughput capability of 200,000 bopd and 2 million barrels of storage, which is expected to materially increase OML 18 production by reducing downtime associated with existing export routes. Crude from OML 18 and the Oza Oil Field is evacuated via the Trans Niger Pipeline to the SPDC-operated Bonny Export Terminal and sold to Shell Western Supply and Trading Limited. Beyond direct production, San Leon holds an 11% equity stake and US$5.5 million unsecured subordinated loan in Decklar Petroleum Limited, which operates the Oza Field.

The company's go-to-market is asset-based rather than product-based: revenue derives from oil and gas sales through established pipeline and terminal infrastructure under a Crude Handling and Terminaling Agreement with Shell Petroleum Development Company of Nigeria Limited, supplemented by interest income from loans to affiliated companies. It operates a sales-led model focused on securing and developing high-potential upstream opportunities in Africa, with an emphasis on near-term operating cash flow and shareholder value. The company was previously quoted on AIM but is currently unlisted following a July 2024 cancellation tied to delinquent publication of audited 2022 accounts, 2023 interim accounts and an AIM admission document related to New ELI Investments. It is in active refinancing discussions after a November 2023 investment from Tri Ri Asset Management Corp failed to deliver funds, and faces approximately US$25 million of outstanding trade creditor pressure.

Name

San Leon Energy

Legal name

San Leon Energy plc

Website

https://sanleonenergy.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

11–50 employees

Short description

San Leon Energy plc is an Ireland-incorporated, unlisted independent upstream oil and gas company whose primary asset is the OML 18 onshore Nigerian oil mining lease (held via Midwestern Leon Petroleum), producing approximately 10,000 barrels of oil per day and exposed to the ACOES midstream pipeline and FSO terminal.

Ownership category

akta.pro rank

Product category

Oil and Gas Exploration & Production

NAICS

Crude Petroleum Extraction (21112), Natural Gas Extraction (21113)

SIC

Crude Petroleum & Natural Gas (1311), Oil & Gas Field Exploration Services (1382), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Production Operations & Artificial Lift (Surface Facilities, Compression, Flow Assurance) (EUAAAAAK)

akta.pro secondary industry

Onshore Natural Gas E&P (Conventional Fields) (EUAAAAAG)

Keywords

• Oil gas exploration
• Onshore oil production
• Crude oil evacuation
• Oilfield development
• Petroleum asset management

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D

Revenue model

1. Oil and Gas Production: Revenue generated from oil and gas production and sales from operating assets including OML 18 in Nigeria and various European assets.
2. Loan Interest Income: Interest income from loans made to affiliated companies, including a US$5.5 million loan to Decklar Petroleum Limited at 10% per annum unsecured subordinated loan notes.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

San Leon Energy is an independent oil and gas exploration, development and production company. Its core product is the OML 18 onshore oil mining lease in Nigeria, currently producing approximately 10,000 barrels of oil per day alongside associated gas production. The company is also developing the Alternative Crude Oil Evacuation System (ACOES), comprising a 47-kilometre undersea pipeline and the FSO ELI Akaso floating storage and offloading terminal, to materially increase production evacuation capacity.

Product overview

San Leon Energy is an independent oil and gas exploration and production company. The company operates primarily through its OML 18 asset in onshore Nigeria, which is its flagship world-class asset producing approximately 10,000 barrels of oil per day. The company is developing the Alternative Crude Oil Evacuation System (ACOES) infrastructure, which includes a 47km undersea pipeline and FSO ELI Akaso terminal with 2 million barrel storage capacity. San Leon also holds historical interests in Poland (EKZ concessions covering 1,100 km²), Ireland, Albania, and Spain.

Differentiator

Problem solved

Functional benefit

Products and services

• OML 18 Asset
• Oil and Gas Exploration, Development and Production Services
• Alternative Crude Oil Evacuation System (ACOES)

Quantifiable outcome

• 10,000 barrels of oil per day production rate
• +3 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• Millenium Oil & Gas Company LimitedcoreStrategic or Co-development PartnerCo-venturer in Oza Oil Field operations in Nigeria. Millenium serves as operator of the Oza Oil Field and has signed Crude Handling and Terminaling Agreement with SPDC for pipeline access to Bonny Export Terminal.
• Energy Link Infrastructure (Malta) Limited (ELI)coreStrategic or Co-development PartnerSan Leon has investments in ELI which operates the Alternative Crude Oil Evacuation System (ACOES) comprising FSO ELI Akaso terminal. Planned investments to become majority shareholder in ELI. ACOES infrastructure expected to materially increase OML 18 production.
• Shell Petroleum Development Company of Nigeria Limited (SPDC)coreStrategic or Co-development PartnerSPDC operates the Bonny Export Terminal and Trans Niger Pipeline. Crude Handling and Terminaling Agreement in place for Oza Oil Field production transport and sale.
• Midwestern Oil & Gas Company LimitedminorStrategic or Co-development PartnerGuarantor of US$126 million due from Midwestern Leon Petroleum Limited.
• Umugini Pipeline Infrastructure Limited (UPIL)minorStrategic or Co-development PartnerApproximately 8,000 bbls of Oza Field crude held in storage at Forcados export terminal tank farm under arrangements with UPIL.

Scale indicators10 records

Recent moves7 records

Expansion highlights5 records

Emerging players

• Chariot Limited: Chariot is an Africa-focused transitional energy company with upstream gas interests in Morocco and emerging hydrogen/power ventures. Comparable to San Leon in scale and Africa-onshore focus, with an emerging pivot that overlaps with San Leon's gas monetization optionality.

Regional players

• Horizon Petroleum Ltd. Horizon is a Calgary-based European-focused upstream operator that acquired San Leon's Polish EKZ subsidiaries (Bielsko-Biala and Cieszyn concessions, ~1,100 km²) in June 2026 for US$1.6M. It is comparable as a small-cap, European-conventional upstream peer with similar asset profile.

Direct peers

• Decklar Resources Inc. Decklar is a Canada-listed small-cap E&P and direct co-venturer at the Oza Oil Field in Nigeria alongside Millenium Oil & Gas. San Leon holds an 11% stake in Decklar's local subsidiary (DPL) plus a US$5.5M loan, making it both a related party and a closely comparable Nigerian-focused upstream operator.
• Tower Resources plc: Tower Resources is a small-cap, AIM-listed (until recently) Africa-focused E&P with assets in Cameroon, South Africa, and Namibia. It is a direct comparable in micro-cap, Africa-onshore/offshore upstream E&P with similar financing and offtake risk profile.
• Midwestern Oil & Gas Company Limited: Midwestern is the operator of the OML 18 joint and guarantor of San Leon's US$126M receivable from Midwestern Leon Petroleum. It is a direct Nigerian upstream peer sharing operational and infrastructure overlap with San Leon's core asset.
• Millenium Oil & Gas Company Limited: Millenium is the operator of the Oza Oil Field and San Leon's co-venturer, exporting crude via the TNP to SPDC's Bonny Export Terminal. As a Nigerian upstream operator with overlapping acreage and identical offtake logistics, it is the closest operational peer to San Leon's Nigerian business.
• Lekoil Limited: Lekoil is a Nigeria-focused AIM-listed (and at times Nigeria- and Africa-focused) upstream E&P with interests in the Otara and Ogo acreage. It is a direct comparable in small-cap, Nigeria-onshore production with similar scale and capital-market dynamics.
• Panoro Energy ASA: Panoro is an Africa-focused independent E&P with producing and development assets offshore Nigeria and West Africa. It shares San Leon's small-cap, production-and-development profile with a focus on West African crude offtake and infrastructure-led value creation.

Broad incumbents

• Seplat Energy plc: Seplat is a leading Nigerian independent E&P (LSE-listed) operating onshore and shallow offshore acreage with material production. It shares OML-related offtake infrastructure (Bonny, TNP) and provides a benchmark for Nigerian onshore E&P valuation and scale.
• Tullow Oil plc: Tullow is a larger, established West Africa-focused E&P with producing assets in Ghana and broader exploration portfolio. It is a broad incumbent comparable — San Leon's CEO was previously a supporter of Tullow in its early growth phase, and the West African operational footprint overlaps.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights6 records

Customer concentration

• Xx.com/SanLeonEnergy

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries6 records

Funding overview

Funding rounds1 record

Investors1 record

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

M&A1 record

Investments1 record

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

Frequently asked questions about San Leon Energy