Strategy

Our strategy is to build a portfolio of high-quality oil and gas assets in emerging, under-valued regions with limited historical exploration. We then commercialise or monetise these to achieve maximum return for our shareholders, business partners and host governments.

Vision

NewAge seeks to become a full cycle exploration and production business and a long term partner to governments and businesses in the countries where we operate.

Values

NewAge strives to enhance shareholder value in a way that also benefits the people and places where we operate. Our success is built on our broad industry experience combined with a strong commitment to corporate responsibility and the importance we place on relationship building.

Locations

Congo Brazzaville - new african global energy - New Age

CONGO-BRAZZAVILLE

Cameroon - new african global energy - New Age

CAMEROON

Nigeria - new african global energy - New Age

NIGERIA

Kurdistan - new african global energy - New Age

KURDISTAN

Ethiopia - new african global energy - New Age

ETHIOPIA

Morocco- new african global energy - New Age

MOROCCO

South Africa - new african global energy - New Age

SOUTH AFRICA

Foum Ognit

Foum Ognit - new african global energy - New Age
Operator NewAge (56.25%)
Other Participants Office National des Hydrocarbures et des Mines (25%), Glencore (18.75%)
Discoveries No wells drilled to date
Work programme Exploration
Interpretation of existing 2D seismic data
3D seismic survey planned

Congo - Brazzaville

Congo Brazaville - new african global energy - New Age
Congo - Brazzaville Marine XII Marine III
Operator Eni (65%) NewAge Congo (75%)1
Other Participants NewAge M12 Holdings (25%)
SNPC (10%)
SNPC (25%)
Discoveries Litchendjili, Nene, Minsala  
Work programme Appraisal and development drilling.
Field development and production.
Ocean Bottom Cable Survey. Further appraisal.

1: Following formal legal completion

Cameroon

Cameroon - new african global energy - New Age
Cameroon Etinde  
Operator NewAge (30%)  
Other Participants Lukoil (30%)
Bowleven (20%)
SNH (20%)
 
Discoveries Etinde gas condensate field  
Work programme Appraisal and development.
Final investment decision pending.

 

 

Foum Ognit, Morrocco

Operator NewAge (75%)
Other Participants ONHYM (25%)
Discoveries No wells drilled to date
Work programme Exploration
Interpretation of existing 2D seismic data
3D seismic survey planned

Nigeria

Nigeria - new african global energy - New Age
Nigeria Aje Field - Block OML113
Operator Yinka Folawiyo Petroleum (41.875%)
Other Participants
NewAge (24.06%)
Energy Equity Resources (16.875%)
Panoro Energy (12.19%)
MX Oil (5%)
Discoveries Aje Field, fully defined by 4 wells with 3 reservoirs
Work Programme Field development plan approved 2014
New 3D seismic data interpreted
Final Investment Decision approved 2014
First production (Phase 1) achieved May 2016

Kurdistan

Kurdistan - new african global energy - New Age
Kurdistan Shewashan
Operator NewAge (60.04%) via equity in GPK (80%)
Other Participants Kurdistan Regional Government (20%)
Discoveries Shewashan Field
Work Programme Shewashan commerciality declared 2014
Early Production Development Plan
Final Investment Decision 2015
First oil achieved December 2014
Development drilling 2015 / 2016

South Africa

South African - new african global energy - New Age
South Africa Algoa Gamtoos
Operator NewAge (50%)
Other Participants Tower Resources (50%)  
Discoveries No wells drilled to date
Work programme

Full 2D and 3D seismic acquired
Exploration well planned, first renewal period awarded 

Ethiopia

Ethiopia - new african global energy - New Age

Ethiopia

Ogaden - Block 8

Adigala

Operator NewAge (100%)

NewAge (100%)

     
Discoveries El Kuran No wells drilled to date
Work programme 2D seismic acquired
Commercialisation studies
2D seismic acquired
Exploration well planned