By Ejekwu Chidiebere
- We equally target 1 billion standard cubic of natural gas processing by 2030
Nigeria’s independent oil and gas company FIRST Exploration and Petroleum Development Company (FIRST E&P) has announced a target of 250,000 barrels of oil equivalent per day in equity production by 2030. The company also said it is preparing a fully developed midstream gas business with target to meet 1 billion standard cubic feet per day of gas processing and supply capacity by 2030.
Energy Window International (Media) gathered that the announcement was presented on September 2 by Segun Owalabi who works as the General Manager-Exploration and Development, FIRST E&P during the “Unlocking Value in the Shallow Water: From Exploration Success to Cluster-Based Development in Nigeria’s Shallow Waters” session – sponsored by FIRST E&P – during a pre-conference event at Angola Oil and Gas 2025 in Luanda.
Segun Owalabi was quoted as saying: “We have consistently delivered transformational milestones, driving growth through safety, speed, efficiency and responsibility.”
He was also reported to have highlighted the successful execution of the company’s flagship Anyala and Madu fields in the Niger Delta which, as Energy Window International (Media) learnt, were delivered to first oil within two years of Final Investment Decision. Adding that through continued exploration, appraisal and asset stewardship, FIRST E&P has been able to triple its petroleum reserves, which also was possible by “a recent 2-trillion-standard-cubic-feet gas discovery at the Songhai field in March this year.”
“We now operate all these assets in shallow waters. We chose Nigeria’s shallow water terrain as an entry point to unlock near-term value, de-risk future growth and build operating credibility,” Owalabi said.