Mkpoikana Udoma
Port Harcourt — In a strategic move signaling its operational revival and host community alignment, Aiteo Eastern Exploration and Production Company Limited has officially rebranded as Nembe Exploration and Production, Nembe E&P, following the successful restart of oil production after over a year of shutdown.
Announcing the rebranding at the NOG Energy Week 2025 in Abuja, Group Managing Director, Victor Okoronkwo, said the name change and the development of the Nembe Crude Export Terminal mark a new chapter of resilience, brand identity, and renewed commitment to national growth.
“We resumed production after over a year of non-production and no cash flow,” Okoronkwo said during a panel on ‘Harnessing Africa’s Energy Shift – From Acquisition to Optimisation’.
“What does that show? It is the resilience of our investors, our shareholders, because other companies would have gone down,” the Nembe E&P boss added.
The OML29 operator, which faced significant evacuation challenges, pivoted from its previous logistics model to a Floating Storage and Offloading, FSO, system, enabling a new export route and the branding of a unique crude grade, Nembe Crude.
“We had to rebrand the crude. It is now Nembe Crude. The FSO is now a terminal, and it is the Nembe Crude Export Terminal.”
He explained that the decision to rename the company was deeply rooted in the company’s geographical and operational heritage.
“Our host community, the heartland of our operations, is Nembe. So we thought it made sense, and the board approved that the company be renamed Nembe Exploration and Production,” Okoronkwo said. “This is also for brand identity and a renewed hope to make Nigeria great.”
Despite the progress, Okoronkwo noted that Nigeria’s oil and gas operators continue to face structural challenges, particularly in accessing capital.
“Capital is always a major challenge. De-risking the assets is key for capital attraction.”
The company’s transformation adds to the momentum of Nigeria’s upstream resurgence, as highlighted by the Federal Government and major industry leaders at NOG 2025.
With increased rig activity, IOC divestments, indigenous capacity expansion, and infrastructure renewal, Nigeria appears to be entering a new energy era driven by bold reforms and private sector adaptability.
