Meren Energy is targeting further investment in Nigeria, with plans to pursue asset acquisitions, licensing opportunities and increased production from its existing offshore portfolio.
The company, formerly known as Africa Oil, has identified Nigeria as its leading investment destination in Africa, citing the quality of its existing assets and recent reforms aimed at improving the country’s oil and gas investment environment.
Meren Energy has invested approximately US$11bn in the Agbami, Akpo and Egina fields over the past 20 years, with a further US$4bn paid in taxes and royalties. The company is now encouraging its joint venture partners to increase investment across these assets to support higher production.
Nigeria’s upcoming licensing rounds and potential asset divestments could provide additional opportunities for expansion. Meren Energy has expressed interest in both, as the Nigerian Upstream Petroleum Regulatory Commission advances plans to offer further exploration and development acreage.
The company’s existing portfolio also offers opportunities to increase output through additional drilling. Preparations for new drilling activity across Agbami, Akpo and Egina have been progressing, with campaigns expected to begin in the fourth quarter of 2026. The programme includes an appraisal well at Ikija, followed by a wider Agbami infill drilling campaign planned across 2027 and 2028.
Meren Energy is also working with its partners to sustain production from existing assets, including planned well interventions and continued reservoir management. These activities could support output ahead of the contribution from new wells.
Meren Energy Inc (MER.TO) is a leading independent, full-cycle E&P with production and development assets in deepwater Nigeria, a leading carried position in the Orange Basin across Namibia and South Africa, and operated licences in Equatorial Guinea.
