Meren Energy, formerly Africa Oil, is seeking to expand its operations in Nigeria through asset acquisitions, licensing opportunities and increased production from its offshore oil fields.
The company is targeting further investment in the Agbami, Akpo and Egina fields, where it has invested approximately $11 billion over the past 20 years. A further $4 billion has been paid in taxes and royalties.
Meren is encouraging its joint venture partners to increase investment across the offshore assets to support production growth and extend their operating lives. The company has also expressed interest in Nigeria’s upcoming licensing rounds and potential asset divestments as the Nigerian Upstream Petroleum Regulatory Commission prepares to make additional acreage available.
Recent reforms aimed at improving Nigeria’s investment climate have strengthened Meren’s interest in expanding its position in the country. The company sees opportunities to acquire additional assets while developing its existing offshore portfolio.
Drilling preparations at Agbami, Akpo and Egina are progressing, with campaigns expected to begin in the fourth quarter of 2026.
The planned programme includes an appraisal well at Ikija, followed by a broader infill drilling campaign at Agbami during 2027 and 2028. These activities are intended to assess further development opportunities and support production from existing fields.
Alongside the drilling programme, Meren is working with its partners on well interventions and reservoir management to maintain output before new wells begin producing.
The planned investment comes as Nigeria seeks to attract additional capital into its upstream oil and gas sector through regulatory reforms, licensing opportunities and asset development.
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.
