Top 10 Oil and Gas Companies in Nigeria

In Nigeria, there are so many oil and gas companies. Some of these top oil and gas companies in Nigeria were established before independence and they still maintain their good way.

Though some of these companies have their headquarters outside Nigeria they still appear on this list because of their ability to maintain their companies in Nigeria.

If you do not know what the top oil and gas companies in Nigeria are, then this article is basically for you.

A lot of people are confused about what the top oil and gas companies in Nigeria are due to the fact that there are over 1000 companies of such in Nigeria.

To answer some curiosity, this article is here to bring out the top oil and gas companies in Nigeria. The table below has a complete list of the top 10 years it was founded and the location of its headquarters.

1. Exxon Mobil

ExxonMobil Corporation founded on November 30, 1999, is an American multinational oil and gas corporation headquartered in Irving, Texas. It is the largest direct descendant of John D. Rockefeller’s Standard Oil.

It was founded as a merger of Exxon and Mobil and currently, it is one of the top Oil and Gas companies in Nigeria.

It is the world’s largest publicly traded international oil and gas company, providing energy that helps underpin growing economies.

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2. Chevron Nigeria Limited (CNL)

In Nigeria, Chevron operates under a joint-venture arrangement with the Nigerian National Petroleum Corporation (NNPC) for the onshore and offshore assets in the Niger Delta region.

Though it was founded in 1879 in California, Chevron Nigeria Limited (CNL) started business in Nigeria in 1913. They basically deal with oil, gas, and other alternative energy sources.

Chevron Nigeria Ltd. (CNL) is one of the largest oil and gas producing companies in Nigeria and counts as one of its largest foreign investors in the country.

Chevron also has extensive interests in multi-partner deepwater operations covering the operated Agbami Field.

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3. Equinor ASA

Equinor ASA formerly Statoil and StatoilHydro is the biggest Norwegian oil company worldwide and one of the Top 10 Oil and Gas Companies in Nigeria.

According to Legit.ng the company has been in Nigeria since 1992 and has played a significant role in developing Agbami (Nigeria’s biggest deep-water field).

Basically, Equinor has drilled 10 wells and invested over US$3.5 billion in Nigeria. The company is among the country’s biggest suppliers of refined products and has a 20.21% stake in the Agbami oil field.

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4. Shell Energy Nigeria

Shell is the best oil company in Nigeria and a top player in the oil industry. However, Shell Energy Nigeria has four subsidiaries in Nigeria:

• The Shell Petroleum Development Company of Nigeria joint venture (SPDC JV)
• Shell Nigeria Exploration and Production Company (SNEPCo)
• Shell Nigeria Gas (SNG)
• Nigeria LNG Limited (NLNG)

It has been active and cooperating with the NNPC since 1937. As one of the top oil and gas companies in Nigeria, many Nigerians love working for Shell because of its decent salary rates.

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5. Nigerian Agip Oil (NAOC)

NAOC  founded in Rome in 1962 is one of the largest oil and gas companies in Nigeria.

However, Eni (an integrated energy company headquartered in Italy) operates in the onshore and offshore areas of the Niger Delta through its subsidiaries NAOC, NAE, and AENR.

Moreover, Eni has been in Nigeria since 1962 through its subsidiary, Nigerian Agip Oil Company.

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6. Nexen Petroleum Nigeria Limited

On the list of the top oil and gas companies in Nigeria is Nexen Petroleum Nigeria Limited which has its headquarters in Canada. The oil and gas company was founded in 1971.

Apart from the fact that it is among the top oil and gas companies in Nigeria, Nexen Petroleum is one of the best oil and gas companies in Canada.

However, the company is a subsidiary of CNOOC Limited. CNOOC Limited is a Chinese company with headquarters in Beijing, China.

7. Total Energies

A French multinational integrated energy and petroleum company named TotalEnergies SE is among the top oil and gas companies in Nigeria.

However, the company was established in 1924 and began marketing its petroleum products in Nigeria on 1st June 1956.

The company has a wide distribution network of over 500 oil stations in Nigeria. Also, they deal in power generation and chemical production.

8. Hardy Plc

Among the top oil and gas companies in Nigeria is Hardy Oil and Gas Plc established in 1997. It changed its name to Hardy Plc in 2005 and announced a successful well test on the Oza field in Nigeria in 2007.

The British-based giant oil and gas company operates in Atala and Oza. It holds 20% of interest in these onshore oil fields and explores them with Bayelsa Oil Company Limited and Millenium Oil and Gas Company.

9. South Atlantic Petroleum(SAPRO)

A gas station attendant pumps fuel into a customer’s car at the NNPC Mega petrol station in Abuja, Nigeria March 19, 2020. REUTERS/Afolabi Sotunde – RC20NF972FA1

South Atlantic Petroleum is one of Nigeria’s most prominent local oil and gas companies.

Theophilus Danjuma established SAPETRO in 1995. The company participated in developing the Akpo deepwater field off the coast of Port Harcourt.

Moreover, it is currently the second largest acreage holder in all offshore East and Southern Africa.

10. Addax Petroleum

The last on this list is Addax Petroleum which was established in 1994 and began operating in Nigeria in 1998.

The company became a subsidiary of the Sinopec Group one of the largest oil and gas producers in China in August 2009.

However, Sinopec Group is one of China’s largest oil and gas producers, the biggest oil refiner in Asia, and the third largest worldwide. They work with over 100 wells in Nigeria and that makes it among the top oil and gas companies in Nigeria.

Summary

Below is a brief summary of the Top 10 Oil and Gas Companies in Nigeria:

• Exxon Mobil
• Chevron Nigeria Limited (CNL)
• Equinor ASA
• Shell Energy Nigeria
• Nigerian Agip Oil (NAOC)
• Nexen Petroleum Nigeria
• Total Energies
• Hardy PLC
• South Atlantic Petroleum (SAPETRO)
• Addax Petroleum