The 7 Companies behind Imo State’s Oil and Gas Powerhouse Status 

Imo state is having a Dubai moment. 

A Southeastern State, well known as a hospitality hub and a home to choice hotels and recreational facilities, has decided that local tourism alone won’t cut it 

So they are turning their sight to something more promising 

Oil and Gas 

A few days ago, a viral video created by an indigenous platform featured Imo State Governor, Senator Hope Uzodimma, stressing his efforts to ensure that all Oil and Gas companies domiciled in Imo State relocate their headquarters to the State. 

In the video, he stated that the modus operandi of oil and gas companies, which run and drill energy resources in Imo state while having their headquarters and paying taxes in Lagos, has been abolished by his administration. 

He described meeting with the top management of the Imo state-based Oil and Gas companies in a bid to create a middle ground where the state government, the companies, and the people of Imo state all benefit under a working formula. 

Reacting to the new policy, the management of the oil companies highlighted Security and the absence of world-class hospitality as reasons behind their choice of lagos. 

Uzodimma quelled the concerns with promises of tight security while citing the under-renovation Concorde Hotel, a five-star hotel located in Owerri, and a three-star hotel managed by the global Hilton Hotels brand as fixes to their hospitality concern. 

The Pivot to an Oil and Gas Economy championed by the Uzodimma Administration received wild support from Southeasterners who are desperate for corporate presence in the region. 

The new push for an oil and gas-driven economy in Imo state hopes to cement the state as a rightful energy powerhouse in Nigeria. 

The Seven Companies behind Imo State’s Oil and Gas Powerhouse Status

Imo state is a silent but key player in Nigeria’s oil and gas sector. The State has approximately 500 million to 1 billion proven oil barrels and contributes about 1.8% to national oil production revenue (based on 2010 NNPC data. 

For gas, Imo state has over 7.8 TCF (trillion cubic feet) of proven gas reserves. This figure comes from state government and industry assessments, positioning Imo as having the largest gas reserves in southeastern Nigeria and among the highest in West Africa. 

These significant natural resources naturally attract Oil and gas companies looking to explore and maximize energy production and distribution. 

In Imo state, seven key oil companies are driving the state’s fledgling Oil and Gas efforts, citing operational bases in the state. They include. 

Waltersmith Petroman Oil Limited

An indigenous Nigerian company was awarded the Ibigwe marginal field in OML 16 in 2003. It operates the state’s largest modular refinery, which consists of a daily 5,000-barrel capacity and was commissioned in 2020 in Ohaji-Egbema. 

The refinery processes local crude into diesel, kerosene, and petrol, with a 70% stake in the field. 

Renaissance (African Energy Company Limited) 

Formerly known as Shell Petroleum Development Company, Renaissance manages onshore oil fields within Oil Mining Lease (OML) 16, including historical production in areas like Ohaji/Egbema. 

Renaissance focuses on crude oil extraction and has been involved in farm-out agreements with indigenous firms. 

Read Also: Understanding Abia State’s Blossoming Oil Status 

Oando PLC 

Oando, a leading Nigerian Multinational energy company, holds interests in onshore assets in Imo state, including Oil Mining Leases (OMLs) 60–63, which cover oil and gas production in areas like Ohaji/Egbema. 

Oando is rumoured to have received a significant boost since the coming to power of Bola Ahmed Tinubu in 2023. 

Antan Producing Limited 

Antan Producing Limited (APL) is a wholly owned subsidiary of the Nigerian National Petroleum Company Limited (NNPCL). 

The producing company operates the Izombe flow station in Oguta Local Government Area, producing crude oil with a capacity of up to 4,000 barrels per day (bpd). Its operation is currently limited to around 1,500 bpd due to insecurity and sabotage. 

APL took over OMLs 123, 124, 126, and 137 from Addax Petroleum in 2023. 

Anoh Gas Processing Company (AGPC)

Anoh Gas is a midstream gas processing firm jointly owned by Seplat Energy and Nigerian Gas Infrastructure Company (NGC, a NNPC subsidiary. 

Both entities own 50% each of the company, making it a dual venture enterprise. 

AGPC operates the ANOH Gas Processing Plant in Assa Community, Ohaji/Egbema LGA, with a Phase 1 capacity of 300 million standard cubic feet per day. 

The plant has the facility for processing wet gas from the ANOH field in OML 21 into dry gas, LPG, and condensate.

Seplat Energy Plc 

Seplat is a leading indigenous energy company, listed on the London and Nigerian Stock Exchanges. 

In Imo state, Seplat co-owns and supports the ANOH Gas Processing Plant via its 50% stake in AGPC, processing gas from OML 21 and OML 53, where it holds a 40% interest. 

It also contributes to upstream development, including wells drilled by SPDC, and supplies gas to the domestic market, doubling its gas production.

Sterling Global Oil Resources Ltd. 

Sterling Global is an Indian-owned indigenous company under the Sandesara Group, established in Nigeria in 2006. 

In Imo state, it conducts oil and gas exploration and production in Ohaji/Egbema LGA, producing low-sulfur “Okwuibome Blend” crude sought by global refineries 

These seven oil and gas companies make up the bulk of the corporate presence in the Oil and gas sector of Imo state. 

The new directive by Governor Uzodimma demanding that these companies cite their headquarters and operational bases in Imo is a radical and welcome idea. 

It is a strategic idea to jump-start an oil and gas economy in the state, complementing the already existing hospitality industry. 

Compliance and Execution by these firms would mean more jobs, more revenue, and an all-around boost to Imo state’s oil and gas sector and local economy.