South Atlantic Petroleum (SAPETRO) is a Nigerian oil and gas exploration and production company, focused on creating value through rewarding exploration, development, and production opportunities in Africa. We have a balanced portfolio of assets that provides a strong platform for growth. SAPETRO remains focused on continued strategic growth, whilst building lasting and beneficial partnerships.
Two statements. One direction. Everything we do at SAPETRO flows from these guiding principles.
SAPETRO’s vision is to be the leading African independent Oil & Gas Company.
SAPETRO’s mission is to sustainably grow and maximize value across the E&P industry in Africa.
In Nigeria, we hold a 15% participating interest in deep-water Petroleum Mining Leases 2, 3, 4 & Petroleum Prospecting Licence 261 (all previously OML 130), in partnership with TotalEnergies, Meren Nigeria, CNOOC and NNPC. These assets include the prolific Akpo and Egina fields, whose combined production surpassed one billion barrels in 2025.
SAPETRO also holds a 20% participating interest in deep-water Petroleum Prospecting Licences 2000 and 2001 in partnership with TotalEnergies. This is in the prolific Niger Delta basin, deep offshore Nigeria. The two partners are joint Contractors under a Production Sharing Contract (PSC) with the Nigeria National Petroleum Corporation Limited (NNPC) as the concessionaire. These blocks were awarded in 2025 and are the first deepwater blocks awarded in Nigeria with commercial terms defined for oil, associated and non-associated natural gas development under the PIA 2021 fiscal regime.
SAPETRO’s strategy is to achieve long-term value growth for investors and host country stakeholders as well as facilitate sustainable energy security for its host country.
Our approach to creating a successful independent oil & gas exploration company and staying competitive relative to peers includes: