Niger Delta Petroleum Resources Ltd is a wholly owned subsidiary of Niger Delta Exploration & Production Plc (NDEP). NDEP is a publicly owned, integrated Independent Oil and Gas focused Investment Company, with a range of assets
Niger Delta Exploration & Production Plc (NDEP) is Nigeria’s first integrated oil and gas investment company.
Founding Chairman, Late Chief Godwin Aret Adams, a former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), and other petroleum professionals came together to initiate a truly indigenous public oil company.
Using a skilled team and efficient operations, they pioneered the development of small and medium-sized oil and gas fields in Nigeria and have moved on to bigger projects.
NDEP was incorporated on March 25, 1992 (as the Midas Drilling Fund) and assumed its current name in November 1996.
The vision of the company’s founders was to create a vehicle that would afford ordinary Nigerians the opportunity to participate in and benefit from the country’s oil and gas industry.
Although not yet listed on the Nigerian Stock Exchange, NDEP’s shareholders number in excess of 700, and come from every geo-political zone in the country.
With funds from its initial shareholders and a loan from a local bank (Intercontinental Bank Plc), the company commenced field development operations in 2004 utilizing not just local capital, but also deploying indigenous oil production services from local contractors.
It achieved first oil on August 28th 2005, and has successfully produced, without any host community induced interruptions, over 7 Million barrels of crude oil from the six wells it has drilled so far.
NDEP is constantly seeking avenues to increase production, share its expertise and build partnerships within the oil and gas industry according to the company website.
Today NDEP is a leading oil and gas investment company. With its fully owned subsidiary (NDPR), the company remains Nigeria’s foremost indigenous and independent operator of small to medium sized fields.