Market Update
Brent Crude · $107.05/bbl · 13 May 2026 WTI · $102.18/bbl Strait of Hormuz Restrictions Continue · Global Supply Impact Saudi Aramco CEO: Market losing ~100 MMbbl/week of supply Nigeria NUPRC · Licensing Round Activity Ongoing PPL 257 · Utine Field · SE Niger Delta · Appraisal Phase OPEC+ Output Policy Under Review Amid Price Surge Nigeria Oil Output · Recovery Continues in Offshore Sector Brent Crude · $107.05/bbl · 13 May 2026 WTI · $102.18/bbl Strait of Hormuz Restrictions Continue · Global Supply Impact Saudi Aramco CEO: Market losing ~100 MMbbl/week of supply Nigeria NUPRC · Licensing Round Activity Ongoing PPL 257 · Utine Field · SE Niger Delta · Appraisal Phase OPEC+ Output Policy Under Review Amid Price Surge Nigeria Oil Output · Recovery Continues in Offshore Sector
Upstream Oil & Gas · Nigeria · Gulf

Unlocking Africa's
energy frontier
for global markets

Island Energy Limited is a Nigeria-based E&P company operating in Nigeria's offshore Niger Delta, bringing world-class assets to an international community of capital and technical partners.

Who We Are

An indigenous operator with institutional discipline

Island Energy Limited is a Nigerian independent E&P company with a singular focus on unlocking proven but undeveloped hydrocarbon resources in Nigeria's offshore Niger Delta, one of the world's most prolific petroleum basins.

"Energy is reinventing itself and Island Energy is committed to being part of this change."

Our leadership team brings a combined track record of 53 wells drilled, two major oilfields developed, and over $20 billion in lifetime project revenues across Nigeria's shallow-water producing landscape, giving us the technical and commercial credibility to bring PPL 257 to production.

Lagos, Nigeria · Registered HQ
West African Roots
Founded and registered in Nigeria, operating within the NUPRC regulatory framework with a deep understanding of the Nigerian upstream landscape.
UAE · Gulf & Asia
Gulf & Asia Hub
Our Gulf base connects us to capital and technical partners across the Middle East, India, China, Indonesia and beyond — investors who share our appetite for proven African upstream acreage.
Our Vision
Building a Portfolio
To be the largest independent oil and gas E&P company in Africa, based on reserve base and production capacity, through the acquisition of multiple proven undeveloped assets across Africa's most prolific offshore basins.
Our Approach

Built on three pillars

01
Asset Quality
We target assets with discovered resources and the potential for upsides to be unlocked through rigorous subsurface evaluation and mapping against existing formations.
02
Capital Efficiency
Fast-track oil development through existing Yoho CPP infrastructure. Efficient capital deployment to fast-track oil development through tie-back to existing offshore infrastructure, significantly reducing upfront costs and compressing time to first oil.
03
Partnership Ethos
We are a consortium-based operator, transparent, credible, and geared for co-investment. Our FTSA structure aligns investor interests with field development milestones.
Flagship Asset

PPL 257, Utine Field

Flagship Asset

Utine Field
PPL 257

Discovered in 1993. Licensed to Island Energy & Partners in 2022. Full 3D seismic coverage. Multiple proven hydrocarbon sands in Miocene Agbada formation.

475ft
Water Depth
~65km²
Licence Area
1993
Discovery Year
24mo
Target to First Oil
Who We Are

An indigenous operator
with institutional discipline

Powering Lives

Chairman's
Statement

Faisal Imam
Chairman, Island Energy Limited

Island Energy is powering lives through our activities and by supporting an inclusive society. The supply of affordable, reliable and sustainable energy is crucial for addressing global challenges, including those related to poverty and inequality. That is why we are working to provide more energy to those who do not have it today.

Island Energy aims to help meet the world's growing need for more energy solutions in ways that are economically, environmentally and socially responsible. Our vision is a bold one: to produce and supply energy that is ever more affordable, cleaner, more reliable and accessible to the greatest number of people, in order to contribute to the sustainable development of the planet.

We want to constantly innovate to produce tomorrow's oil and gas alongside other energies. Our teams constantly strive to improve safety, enhance exploration and production techniques, and reduce environmental impact while delivering commercial returns for our partners and investors.

Our Story

Bridging Nigeria, the Gulf & Asia

Island Energy Limited was established with a clear mandate: to develop Nigeria's proven but undeveloped offshore oil and gas resources with the rigour and discipline that international capital partners expect.

Our founders and senior team are career Nigerian upstream professionals, geoscientists, petroleum engineers, finance and legal practitioners, who have worked at the highest levels of international and indigenous E&P. They bring direct employment and commercial partnership experience at ExxonMobil, Shell, TotalEnergies, NNPC, Chevron, and NLNG.

With a primary registration in Lagos and a commercial presence in the UAE, we are positioned precisely at the intersection of African resource development and Gulf-Asia investment appetite, the bridge between proven assets and the capital needed to produce them.

2
Major oilfields developed offshore Nigeria by the core team
53
Oil wells drilled across projects by team members
1Bn
Barrels discovered with production at 60,000 bopd peak
$20B
Lifetime revenue across team's career projects
Our Vision

Island Energy aims to help meet the world's growing need for more energy solutions in ways that are economically, environmentally and socially responsible.

Our vision is bold: to produce and supply energy that is ever more affordable, cleaner, more reliable and accessible to the greatest number of people — contributing to the sustainable development of the planet.

We want to constantly innovate to produce tomorrow's oil and gas alongside other energies. Our teams strive to improve safety, enhance exploration and production techniques, and reduce environmental impact while delivering superior returns.

Leadership

Board of Directors

Island Energy is guided by a board of accomplished professionals spanning upstream E&P, regulation, finance, law and international business — bringing the depth and credibility that a project of this scale demands.

Faisal Imam
Chairman
Faisal Imam
Faisal Imam brings extensive experience in venture creation, deal origination and fund raising. He sits on the board of several companies, overseeing businesses in the Monument Group. MBA, University of Wales (Cardiff); BSc Accountancy, University of Maiduguri; DipM, Chartered Institute of Marketing (UK).
Sani Hassan
Director
Sani Hassan
Sani Hassan has over three decades' experience in the regulation of Nigeria's upstream oil and gas sector, specialising in Oil Block Management and processing of licence applications. He rose to Deputy Director at the Department of Petroleum Resources (DPR). Member of SPE, NAPE and NMGS.
Tope Solola
Director
Tope Solola
A professional legal practitioner with special interest in litigation, arbitration, energy and natural resources law. Tope is a partner at Solola & Akpana Law Firm, one of Nigeria's leading energy and commercial law practices.
Soala Okunbor
Director
Soala Okunbor
With over 25 years' cognate experience as a transactional lawyer in private practice, Soala brings a track record of professionalism, integrity and excellence. Member of the Nigerian Bar Association and the International Bar Association. A passionate advocate for women's rights.
Faiz Imam
Director
Faiz Imam
A business executive with over 20 years' experience across multiple sectors with a focus on energy. Faiz has global industry knowledge, having worked for International Oil Companies and independents across Africa, Europe and the United States in various roles and capacities.
Farouk Imam
Director
Farouk Imam
Farouk Imam is a seasoned business executive with over 28 years of experience across energy, real estate, fintech and trade. He has led high-value projects, structured strategic joint ventures, and facilitated market entry for global investors across Africa. MEng Mechanical Engineering, Imperial College London (1998); MSc Investment Management, Henley Business School, University of Reading (2011).

Full biographies and credentials available upon request.

Board of Directors

Governance and Ethics

As the decision-making body of the Company, the Board of Directors defines the strategic orientations for Island Energy and ensures their implementation.

The Company is committed to ensuring that its businesses and projects create value as well as positive change. To this end, Island Energy acts in compliance with its Code of Conduct in interactions with all stakeholders: employees, customers and partners, host states and communities, civil society representatives, suppliers and investors.

100
Years of Combined Experience
in the Energy Sector

Track Record, Exploration, Development & Gas

Our team brings direct employment experience at, and commercial partnerships with, the organisations below, spanning E&P, LNG, NGL, and production operations across Nigeria and the Gulf region.

Chevron
Shell
ExxonMobil
Nigeria LNG
Addax Petroleum
Sinopec
Texaco
Nexen
E.ON
Gaz de France
ConocoPhillips
Aradel / NDEP
NPDC
NNPC
Our Values

Our Values

Integrity
We operate with full transparency to our partners, investors, and regulators, building trust as our most valuable long-term asset.
Excellence
International standards of subsurface analysis, field development planning, and financial structuring, applied to every engagement.
Partnership
We exist to co-create value with our partners. Every structure, term, and decision is designed to align interests across the full project lifecycle.
Local Impact
Nigeria-first in employment, procurement, and community development. We develop resources for Africa's benefit, within a global energy system.
Our Business

Proven resources.
Capital-efficient development.

Flagship Asset

PPL 257, Utine Field

Petroleum Prospecting Licence 257 encompasses the Utine Field, located in the South-Eastern offshore Niger Delta at 475 feet of water depth. The field was originally discovered in 1993 through the Utine-1/1ST well, which encountered multiple hydrocarbon-bearing sands in the Miocene Agbada formation.

Following the 2020 NUPRC bid round, PPL 257 was awarded to Island Energy and Partners in November 2022, covering approximately 65 km² of the highly prolific South-Eastern Niger Delta basin, a proven petroleum system surrounded by producing fields including Yoho and Awawa in OML 104, and the Owowo discovery in OML 139 to the south.

2026, Acreage Expansion
The licence area was expanded in early 2026 following regulatory approval of an additional acreage application, further strengthening the geological and commercial case for the Utine Field development.

The full 3D seismic dataset, acquired as part of a regional survey, has been reprocessed and reinterpreted by Island Energy's subsurface team, with independent resource evaluation completed by PetroVision Energy Services in December 2024. This work confirmed substantial recoverable resources across the Upside Appraisal Area and the deeper Graben structure.

Development Strategy

Island Energy's development vision centres on a fast-track oil development path, tying back production to the existing Yoho Central Processing Platform in OML 104, significantly reducing infrastructure capital requirements and compressing the timeline to first oil to approximately 24 months from financing close.

Options for associated gas monetisation are being explored, with specific offtake arrangements to be confirmed as part of the field development plan.

Resource Status
Discovered & Appraised
Independent evaluation by PetroVision Energy Services · December 2024
Reservoir
Miocene Agbada
Multiple hydrocarbon-bearing sands · Full 3D seismic coverage
Development Path
Fast-Track Tie-Back
Tie-back to existing offshore infrastructure · First oil in ~24 months
Asset Highlights
LicencePPL 257
LocationSE Niger Delta Offshore
Water Depth475 ft
Discovery1993
AwardedNovember 2022
Boundary ExtensionMarch 2026 (NUPRC)
Project Timeline

Key milestones

1993
Discovery by ExxonMobil
Utine-1/1ST well drilled and encountered multiple hydrocarbon-bearing sands. Well subsequently plugged and abandoned with discovery confirmed.
2020
NUPRC Bid Round
Island Energy Limited awarded a significant interest in the Utine Field acreage following a transparent competitive bidding process.
2022
PPL 257 Awarded
Petroleum Prospecting Licence 257 formally granted to Island Energy and Partners in November 2022 for a three-year term.
2024
PetroVision Resource Evaluation
Independent subsurface analysis and resource evaluation completed by PetroVision Energy Services, confirming substantial mid-case of 530 MMboe and high-case of 1,049 MMboe in the Upside Appraisal Area.
2025
Phase I Fundraising
Ongoing Phase I Development Fund Raising process. Engagement with strategic investors, IOC partners, and technical service providers.
Mar 2026
NUPRC NE Boundary Extension Approved
NUPRC approved a northeast boundary extension to PPL 257, incorporating additional acreage and directing engagement with the OML 139 JV.
2026
Appraisal Drilling & Testing
Planned appraisal well drilling and well testing programme to confirm resource volumes ahead of full field development.
2027
Development & First Oil
Development drilling, tie-back to Yoho CPP, and first oil production. Sales gas directed to NLNG. Payback projected within two years of first oil.
Growth Strategy

Beyond PPL 257

Island Energy's ambition extends well beyond the Utine Field. Our strategy is to build a diversified portfolio of Proven Undeveloped (PUD) resources across Africa's most prolific offshore basins, applying the same fast-track, infrastructure-led development approach that underpins PPL 257 — tying back to existing facilities wherever possible to minimise capital requirements, compress timelines, and maximise value for our partners and stakeholders.

"To be the largest independent oil and gas E&P company in Africa, based on reserve base and production capacity, through the acquisition of multiple proven undeveloped assets across Africa's most prolific offshore basins."

Responsibility

Developing energy
responsibly

Our Commitments

Four pillars of responsible practice

Safety & Process Integrity
International best-practice HSE management from conceptual design through to decommissioning. A culture where everyone is empowered to stop unsafe work.
Host Communities
Community investment, social impact management and local employment pathways — built into the project from day one, not added as an afterthought.
Local Content
Ambitious targets for Nigerian employment, procurement and skills development — going beyond regulatory compliance to build lasting sector capacity.
Environmental Stewardship
Zero tolerance for unplanned hydrocarbon releases. Gas flaring minimisation, produced water management and marine habitat protection embedded in all development design.
"Energy is reinventing itself and Island Energy is committed to being part of this change, developing Africa's resources with the standards our planet demands."
Island Energy Limited · Vision Statement
Energy Transition

Africa's hydrocarbons
are part of the global transition

Our Position

Responsible hydrocarbons as a transition enabler

Island Energy believes the energy transition must be just and equitable. For emerging economies like Nigeria, responsible hydrocarbon development is not in tension with a sustainable energy future — it is the pathway to it.

Nigeria's 218 million people deserve affordable, reliable energy. Revenue from developing PPL 257 creates the capital needed to invest in renewables, grid infrastructure and energy access programmes that no other mechanism can currently fund at scale in West Africa.

"The question is not whether to produce hydrocarbons — it's who should produce them, and to what standard."

Our development philosophy prioritises low-carbon production intensity: tie-back to existing infrastructure, zero routine flaring, gas monetisation and the latest methane management technologies from first well.

Nigeria in Context
200+ TCF
Nigeria proven natural gas reserves
37.5 Bn
Barrels proven oil reserves — 10th globally
50%
Lower GHG vs coal — natural gas power generation advantage
Our Approach

Three commitments to low-carbon development

01 · Infrastructure Reuse
Tie-Back Development
Routing Utine production through existing offshore facilities eliminates the need for new greenfield infrastructure — fewer structures, lower embodied emissions, faster timeline.
02 · Gas Management
Zero Routine Flaring
All associated gas will be captured and monetised. Zero routine flaring from first gas is a core design constraint — not an afterthought — built into the field development plan from the outset.
03 · Long-Term Vision
Natural Gas as Bridge
Nigeria's vast natural gas reserves are a profound opportunity to power African industrialisation with the world's lowest-carbon hydrocarbon fuel — serving domestic energy security and international export demand.
Contact Us

Let's build
something together

Get In Touch

We welcome the conversation.

Whether you are an investor, technical partner, IOC, financial institution, or service provider, Island Energy is open to discussions that advance responsible energy development across Africa.

Registered Address
26 Adetokunbo Ademola Street
Victoria Island, Lagos
Nigeria
Also Present
Abuja, Nigeria & Dubai, UAE
Send a Message