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Nigerian Agip Exploration (NAE) was incorporated in 1996 to manage the company’s deep offshore exploration and production assets. NAE has the distinction of being the first oil and gas company in Nigeria to produce oil from the country’s deep offshore.
NAE has interests in six deep offshore blocks (OML118, OML125, OML134, OML135, OPL2009 and OPL 245) in Nigeria, either as Operator or as Co-Venturer.
In 2011, the company acquired a 50% interest in, and operatorship of, OPL 245, located in ultra-deep waters, as well as a 49% interest in, and operatorship of, OPL 2009.
The company also has a 12.5% contractor participating interest in OML 135 and in OML 118, operated by SNEPCo, where the prolific Bonga main field has been in production since 2005.