LEKOIL Targets 100,000 Barrels Daily Production Growth

LEKOIL Nigeria Limited, an Africa-focused oil and gas exploration and production company, is transitioning from portfolio building to production growth. The company aims to achieve a production capacity of 100,000 barrels per day through phased development, regulatory progress, funding, and strategic partnerships.

This strategy was presented at Africa Oil Week 2026, held in Accra from September 1 to 3. Founder and CEO Lekan Akinyanmi stated that the immediate priority is to convert the portfolio built over more than a decade into sustainable commercial value.

General Manager of Corporate Communications, Hamilton Esi, emphasized the focus on unlocking value from existing assets and seeking partners for capital, technology, and expertise. The company’s portfolio includes interests in Otakikpo in PML 11, OPL 276, OPL 325, OPL 310, and OPL 241.

Additionally, Company Secretary and General Manager, Legal, Gloria Iroegbunam, noted that Nigeria's ambition of reaching three million barrels per day will require continued investment in exploration and reserves development.