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Pan Ocean and Newcross Join AEW 2025 as Bronze Partners
Pan Ocean and the Newcross Companies will participate as Bronze Partners at this year’s African Energy Week (AEW): Invest in African Energies 2025, taking place from September 29 to October 3 in Cape Town. Their group sponsorship underscores the companies’ shared commitment to advancing upstream growth, optimizing production, and strengthening Nigeria’s hydrocarbon value chain through strategic collaboration.
Together, Pan Ocean and the Newcross Companies operate across key assets including OMLs 147, 152, PMLs 55, 56, and 57, in partnership with the Nigerian National Petroleum Company Limited (NNPCL). These assets play a critical role in driving Nigeria’s oil and gas production, unlocking gas commercialization opportunities, and supporting the country’s broader energy transition agenda.
At PMLs 55, 56, and 57, Newcross EP operates with a 45% participating interest. In collaboration with NNPC Ltd, the company recently restarted production at the Awoba Unit, which straddles OMLs 18 after over 2 years of non-productio due to the outage of the Nembe Creek Truck Line (NCTL).
Through OMLs 147 and 152, Pan Ocean and the Newcross Companies are working to enhance crude oil production, advance gas development, and strengthen midstream infrastructure. These projects contribute to Nigeria’s production growth, flare reduction, and energy security objectives. A vapor recovery unit compressor has also been commissioned to reduce flaring, reinforcing Nigeria’s drive for production efficiency and emissions reduction.
Beyond upstream operations, Pan Ocean and the Newcross Companies are advancing their environmental, social, and governance (ESG) commitments through greenhouse gas reduction initiatives, renewable energy projects, and the development of host communities under the Petroleum Industry Act (PIA) framework.
These efforts underscore their role as responsible indigenous operators creating sustainable value for Nigeria.
Pan Ocean and the Newcross Companies demonstrate how indigenous operators can drive upstream growth while advancing sustainability. Their focus on production optimization, emissions reduction, and community development reflects the future of Nigeria’s energy sector,” states Tomás Gerbasio, VP of Commercial and Strategic Engagement at the African Energy Chamber.