Famous Nigerian Oil Well Owners

In Nigeria, people have shown keen interest in who owns oil wells, as these wells play a vital role in the country’s economy. Some individuals have gained fame for owning these valuable resources. They have established themselves in Nigeria’s oil industry by owning and engaging in oil well possession. Their actions have not just influenced the economy but have also molded how oil ownership is seen in Nigeria. As the oil sector keeps changing, these renowned oil well owners continue to play a crucial part in the industry’s progress and advancement.

In this article, RNN highlights notable Nigerian oil well Owners.

Table Of Contents

10. Alhaji Mai Daribo

Alhaji Mai Daribo, a Bornu Patriarch, owns the productive OML 110 oil field. This field contains the OBE oil reservoir, estimated to hold over 500 million barrels of oil. To put it simply, if we use an average price of $100 per barrel, this translates to a reserve of oil valued at $500 billion. After accounting for taxes, duties, and royalties amounting to around 60% of the total reserve, the remaining value for a single-family is approximately $20 billion.

9. General Theophilus Danjuma

Theophilus Yakubu Danjuma GCON FSS psc, born on 9 December 1938, is a Nigerian politician and former army lieutenant general. He actively influenced important military and political occurrences in Nigeria after gaining independence. Danjuma acquired significant wealth from shipping and petroleum ventures.

Danjuma, who operates under the business name SAPETRO, owns OPL 246. This oil block facilitates the daily export of as many as 230,000 barrels of crude oil.

8. Colonel Sanni Bello

Sani Bello, born on 27 November 1942, is a Nigerian leader and former military administrator. He governed Kano State from 1975 to 1978. Following retirement, he earned significant wealth from ventures in oil, telecoms, and electricity. He founded the Sani Bello Foundation.

Sanni Bello possesses NOML 112 and OML 117. His business is named the International Petroleum Development Corporation.

7. Alhaji Mohammed Indimi

Indimi, originally from Niger State, has a familial connection to Ibrahim Babangida, a former military leader. Ludimi owns OML 115, OLDWOK Field, and EBOk Field.

Born on August 12, 1947, Mohammed Indimi OFR is a Nigerian businessman and philanthropist. He established and chairs Oriental Energy Resources (OER), a privately held Nigerian company focused on oil exploration and production. By June 2021, his wealth reached an estimated $1.5 billion. Mohammed Indimi, who founded Oriental Energy Resources, holds a significant role in Nigeria’s oil industry. His company actively engages in oil exploration and production, solidifying his position as a respected oil well owner.

6. Andy UBA

Emmanuel Nnamdi Uba, born on 14 December 1958, actively participated in Nigerian politics. He served as a Senator for the Anambra South Senatorial District of Anambra State from 2011 to 2019. Additionally, he won the 2007 Anambra State gubernatorial election representing the People’s Democratic Party. However, the Supreme Court of Nigeria declared his victory invalid a month later. In February 2017, he joined the ruling All Progressives Congress, possibly due to the leadership crises within the former ruling party PDP. Notably, Uba plays a significant role in operating OPL 286 through Focus Energy.

5. Mike Adenuga

Chief Michael Adeniyi Agbolade Ishola Adenuga Jr CSG GCON came into the world on 29 April 1953. He stands as a Nigerian billionaire entrepreneur and holds the position of Africa’s third wealthiest individual. Through his company Globacom, he operates as Nigeria’s second-largest telecom provider and has a presence in Ghana and Benin. Moreover, he possesses shares in the Equitorial Trust Bank and the oil exploration company Conoil (previously known as Consolidated Oil Company).

Adenuga, a multimillionaire, possesses Conoil, the oldest indigenous oil exploration enterprise in Nigeria. Conoil exports over 200,000 barrels of crude oil daily from its six oil blocks.

4. Arthur Eze

Arthur Eze, a Nigerian businessman, serves as the CEO of Atlas Oranto Petroleum, which stands as Nigeria’s largest privately-owned company for petroleum exploration and production. Eze also leads Atlas Petroleum Int. Ltd and possesses ownership of the oil well OPL 109.

3. M.K.O Abiola

Moshood Kashimawo Olawale Abiola GCFR, who is also recognized as M. K. O. Abiola, came into the world on 24 August 1937. Abiola, a Nigerian entrepreneur, publisher, and politician, held the esteemed position of the supreme military commander of the Oyo Empire. He also held an aristocratic status within the Egba clan. Leading Summit Oil, M.K.O Abiola possessed ownership of OPL 205 and OPL 206.

2. Modupe Alakija

Alakija Folorunsho Alakija’s husband actively leads Famta Oil Ltd, the owner of OPL 216.

1. A.B.C Orjiako

ABC Orjiako, co-founder of SEPLAT, a prominent Nigerian oil and gas company listed on the London and Nigerian stock exchanges, serves as its Chairman. A.B.C Orjiako also leads Zebbra Energy Limited, the owner of OPL 248.

FAQS

What is OML in Oil?

OML means a lease called an oil mining lease issued by the Ministry following the fulfillment of the minimum work obligations or the discovery of Commercial Quantities of Petroleum.

What is OPL in Oil?

Oil Prospecting License

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