NewAge has built a portfolio of high quality oil and gas assets in seven countries, five of which are in sub-Saharan Africa.
Since our inception in 2007, NewAge has made twelve commercial discoveries - six oil fields and six gas fields. Our first production began in December 2014 and we are currently producing from the Aje field in Nigeria, the Shewashan field in Kurdistan and two fields in Congo-Brazzaville, Nene Marine and Litchendjili.
NewAge operates the majority of its assets. Where we are not the operator, we are an active participant engaging with the operator throughout the development process to deliver outcomes that optimise value.
NewAge interest 30% (operator) Partners
Euroil (Bowleven) (20%)
Marine XII, Congo-Brazzaville
NewAge M12 Holdings Ltd interest 25% Discoveries Litchendjili,
Nene, Minsala, NKala PartnersENI (65%)
Aje Field, Nigeria
NewAge interest 24.06% Partners
MX Oil (5%)
NewAge interest 50% (operator) Partners SNPC (50%)
Balance and risk mitigation
Our portfolio is balanced through a mix of geographical and geological diversification with projects at different stages of their life-cycle.
Pipeline of key developments
- Litchendjili (Marine XII, Congo)
- Nene (Marine XII, Congo)
- Etinde (Cameroon)
- Aje (OML113, Nigeria)
- Shewashan (Kurdistan)
Current and near-term production
- First production in 2014
- Four fields on stream by mid-2016
- Assets capable of producing over 100,000 boepd
Reserves and resources(Company estimates at September 2016)