Our portfolio is the outcome of a focused strategy to acquire high quality assets in Africa and the Middle East through early entry into emerging regions with potential for significant discoveries.
Since its foundation in 2007, NewAge has built a balanced portfolio of nine assets in seven countries across the upstream oil and gas value chain. Our current activities cover exploration, appraisal and development, with our first production achieved from Congo Brazzaville and Kurdistan in 2014. The Aje field in Nigeria has been on production since May 2016.
NewAge interest 37.5% (operator) DiscoveriesEtinde Field Work programmeAppraisal and development / Final investment decision pending
Marine III, Congo-Brazzaville
NewAge interest75% (operator) Work programmeOBC survey completed 2014
Marine XII, Congo-Brazzaville
NewAge M12 Holdings Ltd interest25% DiscoveriesLitchendjili, Nene, Minsala, NKala Work programmeField development, appraisal drilling
Algoa/Gamtoos, South Africa
NewAge interest50% (operator) DiscoveriesNo wells drilled to date Work programme3D seismic acquired 2014 / First renewal period awarded / Potential exploration well
NewAge interest100% (operator) DiscoveriesEl Kuran - oil and gas Work programme Appraisal and pre-development
NewAge interest100% (operator) DiscoveriesNo wells drilled to date Work programme Exploration / 2D seismic survey 2014 / Exploration well planned.
NewAge interest60.04% (operator) DiscoveriesShewashan Field Work programme Early Production Facility / Phase 1 Final investment decision / First oil 2014
Foum Ognit, Morocco
NewAge interest75% (operator) DiscoveriesNo wells drilled to date Work programme Exploration / Interpretation of 2D seismic data / 3D seismic planned.
Aje Field, Nigeria
NewAge interest24.06% DiscoveriesAje Field Work programmeDevelopment drilling / First production achieved May 2016.
NewAge interest50% (operator) DiscoveriesNo wells drilled to date Work programmeSeismic survey