Emadeb Energy has started commercial crude oil production at the Ibom Field, located about 30km offshore Akwa Ibom, following a $100m investment.
The privately-owned indigenous company confirmed production began in October 2025 after years of engineering work, investment and regulatory approvals.
“Emadeb Petroleum Exploration & Production Company Limited is proud to announce the achievement of first oil from the Ibom Field (PPL 236), marking another milestone in Nigeria’s upstream oil and gas industry,” the company said in a statement on Sunday.
Emadeb said the achievement followed a series of technical steps, including:
- the successful drilling and completion of the Ibom-03 well in September 2023
- the integration of a Mobile Producing Offshore Unit in June 2025
- the commissioning of a mooring system in September 2025
The field, discovered in 1979 and estimated to hold 103m barrels of oil equivalent in place, was awarded to Emadeb during the 2020 Marginal Field Bid Round. It is among the few marginal assets to reach first oil within four years of award.
The company said it has spent more than $100m on a phased development programme since the upstream regulator NURPC approved its plan in November 2024.
Emadeb injected over $70m equity into the project, while the remaining funds were facilitated by Fidelity Bank.
The Ibom-03 well is currently producing 2,300 b/d with the prospect of increasing it to 4,000 barrels in the near future. Emadeb said phase two would involve drilling two additional wells, with a target to triple production by the fourth quarter of 2026.
In a recent interview, Emadeb’s chief executive Adebowale Olujimi said;
“Emadeb’s plan is to be able to run from the minimal production level where we are now to become a 50,000 barrels per day production company within the next five years.”
The Ibom field alone is capable of producing over 30,000 b/d.
Oil from the field is barged using MT Bedford which conveys the crude and offloads it onto waiting export tankers at Bonny terminal, a process Olujimide described as expensive.
The company hinted that future operations would prioritise environmental stewardship, safe practices and community engagement.
Indigenous rise in Nigeria’s oil sector
Nigeria has seen a surge in indigenous operators since the passage of the Petroleum Industry Act, with smaller firms increasingly developing marginal fields left idle by international oil companies.
About 17 out of 30 marginal oil fields awarded since 2020 are currently producing.
The 2020 bid round was one of the largest, attracting hundreds of local firms.
Just days ago, Oriental Energy — another private player — announced the sail away of its FPSO vessel for the Okwok offshore field, underscoring the growing role of indigenous players.
Emadeb said the milestone reflects its “deep commitment to unlocking Nigeria’s hydrocarbon potential through homegrown expertise” and demonstrates indigenous capacity in the sector.
“We are proud to contribute to Nigeria’s energy goals, foster local content, create jobs, and deliver sustainable value,” Olujimi said.
Founded in 2007, Emadeb operates across Nigeria’s oil sector, from upstream to midstream and downstream.