- Pan Ocean and Newcross advance financing and sustainability across Nigeria’s energy sector.
- Initiatives include gas infrastructure, renewable energy projects, and enhanced operational efficiency.
Pan Ocean and Newcross Companies have partnered with the Nigerian Association of Petroleum Explorers (NAPE) to advance the Nigerian energy transition. Moreover, the collaboration focuses on financing, sustainability, and improved access to cleaner energy.
At NAPE’s 43rd Annual International Conference and Exhibition in Lagos, Dr Bolaji Ogundare, Group Executive Director of Pan Ocean and Newcross, highlighted that the conference theme, “Financing the Future of Nigeria’s Energy Sector,” addresses the urgent need to balance current production with investments in cleaner energy systems. Consequently, he stressed the importance of long-term strategic planning.
He added that Nigeria must optimise hydrocarbon resources while investing in gas infrastructure, renewables, and carbon-management technologies. Furthermore, financing this transition requires credibility, collaboration, and commitment from both local and international investors.
Ogundare explained that Pan Ocean operates as an integrated ecosystem. For instance, Pan Ocean Oil Corporation leads operations, while Newcross Petroleum, NewcrossEP, and NewX Energy focus on exploration, production, and the adoption of cleaner fuels. In 2025, technical collaboration with NNPC on PMLs 55, 56, and 57 led to a 33% production increase at the Ekulama-12 and Awoba NW-3 wells.
In addition, the Ovade-Ogharefe Gas Plant and OML 147 achieved significant milestones. These include reduced emissions, improved gas monetisation, and a vapour recovery unit compressor at OML 147. These efforts demonstrate how sustainability complements operational excellence.
Through NewX Energy, the group invests in solar mini-grids and energy-efficiency projects to drive a just and inclusive transition. Similarly, Ogundare stated that indigenous operators must lead the energy transition responsibly, transparently, and with long-term commitment to national goals.
Other speakers, including SGF representative Prof. Bolaji Babatunde and APPO Secretary-General Dr Omar Farouk Ibrahim, highlighted the importance of financing innovation. For example, Ibrahim revealed plans for an Africa Energy Bank with $100 million seed funding.
Additionally, Oluwafemi Akinyemi, Group Financial Controller, noted that the programme strengthens energy security, ensures affordable access, and develops local capacity. Therefore, NAPE and the Energy Institute emphasised the importance of promoting clean energy and efficiency through partnerships.
Ultimately, Nigeria’s energy transition depends on collaboration, credible investment, and innovative financing models to guarantee sustainable growth and competitiveness.