UTM Offshore
UTM Offshore Limited is a privately held Nigerian oil and gas services company providing marine logistics, dredging, pipeline monitoring, and energy trading to international oil companies operating in Nigeria, while pioneering the country's first indigenous Floating Liquefied Natural Gas (FLNG) facility.
- Company typePrivate
- Founded2012
- HeadquartersMaitama, Nigeria
- Headcount51–100
- GTM typeB2B
- OfferingServices
What UTM Offshore does
UTM Offshore Limited is a privately held Nigerian oil and gas services company incorporated in July 2012 as part of the UTM Group of Companies. The company operates a diversified portfolio of offshore support services for international oil companies (IOCs) operating in Nigeria. Its service lines include marine logistics (FPSOs, Platform Supply Vessels, Security Vessels, Anchor Handling Tug & Supply Vessels, Dive Support Vessels, tugs, and barges), capital and maintenance dredging, product pipeline right-of-way monitoring using M2M technology, and a Direct Sales and Direct Purchase (DSDP) crude-for-products exchange program. Named clients include SAIPEM, Total, ExxonMobil, Addax, and NNPC/PPMC, with operations across three Nigerian offices (Abuja, Lagos, Port Harcourt) and a footprint extending to Ghana via UTM Ghana Limited and UTM-CTK Ghana Limited.
The company's defining strategic initiative is the development of Nigeria's first indigenous Floating Liquefied Natural Gas (FLNG) facility, located at the Yoho field (OML 104) offshore Akwa Ibom State. The project targets 176 mmscf/d of natural gas production with 2.8 MTPA LNG capacity and 300,000 metric tonnes of LPG output for the domestic market (representing approximately 25% of national demand). Technical execution is being conducted in partnership with JGC Corporation (Japan), Technip Energies (France), and KBR (UK). The project has progressed through License to Establish (Feb 2021), Pre-FEED and FEED phases, a $2B Phase 1 / $3B Phase 2 financing MoU with Afreximbank, a Shareholders Agreement (UTM 72% / NNPC 20% / Delta State 8%) signed in December 2023, and the License to Construct granted by NMDPRA on September 6, 2024.
Revenue is generated through enterprise contracts for marine logistics and support services, dredging projects, pipeline maintenance, and crude-for-products exchange under the DSDP program. The company is privately held with no public listing; Julius D. Rone (OFR) serves as founder and Group Managing Director & CEO. There are eleven wholly-owned subsidiaries spanning dredging, engineering and construction, logistics, marine services, petroleum distribution, energy, real estate, and the FLNG SPV. Marketing is conducted primarily through direct enterprise sales, industry events (Nigeria International Energy Summit, Gastech Singapore), press releases, and a corporate website with social media presence.
UTM Offshore firmographics
Firmographics- Name
- UTM Offshore
- Legal name
- UTM Offshore Limited
- Website
- https://utmoffshore.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- UTM Offshore Limited is a privately held Nigerian oil and gas services company providing marine logistics, dredging, pipeline monitoring, and energy trading to international oil companies operating in Nigeria, while pioneering the country's first indigenous Floating Liquefied Natural Gas (FLNG) facility.
- Ownership category
- akta.pro rank
UTM Offshore industry classification
Industry- Product category
- Offshore Oil and Gas Services
- NAICS
- Support Activities for Water Transportation (4883), Marine Cargo Handling (48832)
- SIC
- Oil & Gas Field Services, Nec (1389), Wholesale-Petroleum Bulk Stations & Terminals (5171)
- akta.pro primary industry
- Offshore Marine & Aviation Support (PSVs, AHTS, Crew Boats, Helicopters) (EUALABAJ)
Keywords
Where UTM Offshore is headquartered
LocationHeadquarters
- HQ city
- Maitama
- HQ country
- Nigeria
- HQ region
- Africa
Offices3 records
Markets served
UTM Offshore business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales
Revenue model
- Marine Logistics Services: Provision of service boats and allied equipment including Platform Supply Vessels, Security Vessels, Anchor Handling Tug, Crew/Supply Boats, Dive Support Vessels, Drill-Ship, Jack-Up Barges, FPSO operations and management
- Dredging Services: Capital dredging, maintenance dredging, land reclamation, and environmental dredging for ports and coastal projects
- Pipeline Support Services: Right of Way monitoring, security surveillance, protection and maintenance of product pipelines across Nigeria using M2M technology
- Energy Services (DSDP): Direct Sales and Direct Purchase of Nigerian Crude Oil and Gas through crude-for-products exchange (swap) mechanism
- FLNG Production: Floating Liquefied Natural Gas production facility producing LNG, LPG and condensate from Yoho field gas
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
UTM Offshore product offering
Product offeringCore offering
UTM Offshore provides offshore oil and gas support services including marine logistics (FPSOs, PSVs, security vessels, AHTS, dive support vessels), dredging services for ports and coastal projects, product pipeline monitoring and security surveillance using M2M technology, and Direct Sales and Direct Purchase (DSDP) crude oil and gas trading. The company is also pioneering Nigeria's first Floating Liquefied Natural Gas (FLNG) facility with 2.8 MTPA capacity at the Yoho offshore field.
Product overview
UTM Offshore Limited offers a diversified portfolio of oil and gas services anchored by its flagship Floating Liquefied Natural Gas (FLNG) facility, the first indigenous FLNG plant in Nigeria. The company operates four core service divisions: Marine Logistics (managing FPSOs, security vessels, PSVs, AHTS, DSVs, tugs and barges), Dredging Services (capital, maintenance, land reclamation and environmental dredging), Energy Services through the Direct Sales and Direct Purchase (DSDP) program for crude oil and gas trading, and Product Pipeline Support services including right-of-way monitoring and security surveillance using M2M technology. The FLNG product represents the company's pioneering high-capability offering, while marine logistics and dredging provide foundational maritime support services to oil majors operating in Nigeria.
Differentiator
Problem solved
Functional benefit
Products and services
- Floating Liquefied Natural Gas (FLNG) Facility Nigeria's first Floating Liquefied Natural Gas facility producing LNG, LPG, and condensate from the offshore Yoho field (OML 104) offshore Akwa Ibom State, with capacity of 176 mmscf/d of natural gas and 2.8 MTPA LNG production capacity; 300,000 metric tonnes of LPG dedicated to domestic market. Targets international oil companies, NNPC, and government entities seeking domestic gas monetization and LNG production.
- Marine Logistics Services Ownership, operation, and technical management of Floating Production Storage and Offloading (FPSO) units, Security Vessels, Platform Supply Vessels, Anchor Handling Tug & Supply Vessels, Dive Support Vessels, Tugs, Fast Personnel/Cargo Transport, and Self-Propelled Barges for offshore and onshore drilling campaigns of oil majors operating in Nigeria.
- Dredging Services Capital dredging, maintenance dredging, land reclamation, and environmental dredging services for ports, harbors, and coastal projects; uses state-of-the-art equipment and cutting-edge technology with commitment to environmental responsibility. Targets port authorities, terminal operators, and oil and gas majors requiring waterway maintenance and coastal construction.
- Energy Services (DSDP) Direct Sales and Direct Purchase (DSDP) program for Nigerian Crude Oil and Gas through crude-for-products exchange (swap), creating efficient direct channels for distribution of oil and gas products and connecting producers directly with end consumers and businesses.
- Product Pipeline Support Services Right of Way monitoring, security surveillance, protection, and maintenance of product pipelines across Nigeria using M2M technology for real-time detection of leaks, corrosion, illegal taps, and other abnormal activities. Targets NNPC/PPMC and pipeline operators.
- Maritime and Oil Services Support - Capacity Enhancement and Training Development Capacity enhancement and training development services providing qualified human capacity, equipment, and customizable service offerings for the maritime and oil sectors, ensuring a skilled workforce for anticipatory and responsive project implementation.
Quantifiable outcome
- 176 mmscf/d natural gas production capacity
- +4 more outcomes
Companies that use UTM Offshore
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles3 records
UTM Offshore technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
UTM Offshore partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and minor.
- JGC Corporation (Japan)coreJGC Corporation signed FEED contract for Nigeria's first FLNG facility. JGC was involved in design, construction, and commissioning of 3 of the 5 FLNGs in the world. The partnership involves Pre-FEED and main FEED phases for the floating LNG production plant.
- Technip Energies (France)coreTechnip Energies partnered with UTM for FEED contract execution. The company provides technical expertise for the FLNG facility engineering and design phase.
- Kellogg Brown & Root (KBR, UK)coreKBR provides Owner's Engineering Services and third-party review of deliverables during Pre-FEED and FEED phases. KBR conducted due diligence on JGC scope during Pre-FEED phase.
- LNG Investment Management Services (LIMS)coreLIMS, a subsidiary of NNPC Limited, partnered with UTM for FLNG facility development. The partnership facilitates NNPC's involvement in the floating LNG project.
- Stanford Marine LLC DubaiminorPartnership for delivery of MV Stanford Buzzard and MV Mac Falcon vessels for Exxon Mobil operations in Erha field.
- Templars (Law Firm)minorLegal counsel for FLNG project development and contract coordination.
- White & CaseminorInternational law firm providing legal advisory services for the FLNG project.
- Energy PartnersminorProject financing and energy sector advisory services.
- Alex Scott & AssociatesminorLegal advisory services for project development.
Scale indicators10 records
Recent moves8 records
Expansion highlights6 records
UTM Offshore competitors and assessment
Company assessmentDirect peers
- Golar LNG: Golar is the world's first operator of a floating LNG vessel (Hilli Episeyo) and a direct FLNG peer; both companies deploy converted or purpose-built FLNG units to monetize stranded gas reserves in emerging markets.
- Tidewater Inc. Tidewater is one of the largest global offshore support vessel (OSV) operators, offering PSVs, AHTS, and crew boats to oil majors; directly comparable to UTM's marine logistics fleet serving IOCs in West Africa.
- SBM Offshore: SBM Offshore is a leading FPSO operator and offshore production solutions provider; directly comparable to UTM's FPSO operations and management offering and to its integrated marine-logistics model for deepwater oil and gas clients.
- BW LNG: BW LNG operates a fleet of LNG carriers and has actively pursued FLNG and FSRU opportunities in West Africa; directly comparable as a peer pursuing floating LNG infrastructure projects in the same regional addressable market.
Broad incumbents
- Royal Boskalis Westminster: Boskalis is a global leader in capital and maintenance dredging, land reclamation, and maritime services; directly comparable to UTM Dredging's service offering to ports and coastal infrastructure clients.
- Petronas (PFLNG): Petronas operates the PFLNG SATU and PFLNG DUA, making it an established FLNG operator with direct technology overlap and a comparable offshore gas monetization approach.
- Shell (Prelude FLNG): Shell operates the Prelude FLNG, the world's first floating LNG facility; while an integrated supermajor, its FLNG unit competes with UTM in monetizing offshore gas via floating liquefaction technology.
Emerging players
- Excelerate Energy: Excelerate specializes in floating LNG regasification and is expanding into FLNG development; relevant peer given overlap in floating LNG infrastructure targeting emerging-market gas monetization.
Regional players
- DOF Subsea: DOF operates a global fleet of offshore support vessels and subsea construction assets; relevant as a comparable offshore vessel and subsea services peer, though primarily active outside West Africa.
- Seplat Energy: Seplat is a leading Nigerian independent oil and gas producer operating in the Niger Delta; relevant as a Nigerian E&P peer that could become a feedstock supplier or strategic partner for UTM's gas and pipeline business.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks5 records
Key highlights7 records
Customer concentration
UTM Offshore social profiles
Digital presenceUTM Offshore compliance and trust
Trust signalCompliance2 records
UTM Offshore financial estimates
Financial estimateRevenue estimate
Valuation estimate
UTM Offshore leadership team
Management profileNumber of profiles
Profiles8 records
UTM Offshore subsidiaries and ownership
Company hierarchySubsidiaries11 records
UTM Offshore funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
UTM Offshore M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about UTM Offshore
What does UTM Offshore do?
UTM Offshore provides offshore oil and gas support services including marine logistics (FPSOs, PSVs, security vessels, AHTS, dive support vessels), dredging services for ports and coastal projects, product pipeline monitoring and security surveillance using M2M technology, and Direct Sales and Direct Purchase (DSDP) crude oil and gas trading. The company is also pioneering Nigeria's first Floating Liquefied Natural Gas (FLNG) facility with 2.8 MTPA capacity at the Yoho offshore field.
Is UTM Offshore a public or private company?
UTM Offshore is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was UTM Offshore founded?
UTM Offshore was founded in 2012. It employs 51 to 100 people.
Where is UTM Offshore based?
UTM Offshore is headquartered in Maitama, Nigeria, in the Africa region.
How does UTM Offshore make money?
Five revenue lines are on record. Marine Logistics Services are the primary driver. The others are dredging Services, pipeline Support Services, energy Services (DSDP) and FLNG Production.
Who are UTM Offshore's main competitors?
Direct peers on record are Golar LNG, Tidewater Inc., SBM Offshore and BW LNG. Broad incumbents are Royal Boskalis Westminster, Petronas (PFLNG) and Shell (Prelude FLNG). Excelerate Energy is listed as an emerging player. Regional players are DOF Subsea and Seplat Energy.
Does UTM Offshore have an API?
No public API is recorded for UTM Offshore.
What industry is UTM Offshore in?
UTM Offshore's product category is Offshore Oil and Gas Services. Its primary akta.pro industry code is EUALABAJ, Offshore Marine & Aviation Support (PSVs, AHTS, Crew Boats, Helicopters). Its NAICS code is 4883 and its SIC code is 1389.