Oil and Gas Exploration and Production

Proxima’s Exploration and Production (E&P) business focuses on taking advantage of emerging upstream opportunities around Nigeria, Gulf of Guinea and the Atlantic Basin.
Proxima is in the process of acquiring a portfolio of oil and gas assets in Nigeria, with a view to being an operator and partner to Nigerian and multinational companies in the development and commercial optimisation of these assets.

Proxima believes that with strategic investments in E&P opportunities, it can deliver sustainable value to stakeholders. Once the business acquires its strategic assets, it will build these reserves through the exploration, development and acquisition.

The Exploration and Production business will take a cautious but pro-active approach in taking advantage of opportunities outside Nigeria. It will invest in assets that meet its strategic, financial and growth requirements.
Taking advantage of the Nigeria Local Content Law, the business will continue to source for and acquire stakes in strategic oil and gas assets either as an operator or in partnership with reputable independents or International Oil Companies (IOCs), in line with its pan-African growth strategy.