June 23, (THEWILL) – The audacious launch by Aiteo Group and Bravura, two entities founded by Nigerian-born African billionaire and oilman, Benedict Peters, into Zimbabwe, Mozambique and the Congo and the impressive half year numbers of the former, Nigeria’s indigenous foremost independent energy operator, has put the businessman in the spotlight once again. Last week, THEWILL reported exclusively that Aiteo Eastern Exploration and Production Company (AEEPCO) recorded crude sales of $325m about N471 billion in the first half of this year in its operations in Nigeria. The information received from banking sources, further stated that the remarkable performance has reinforced the firm’s optimism for a N1 trillion revenue target for 2024.
Aiteo which operates OML 29, a joint venture asset it co-owns with NNPC, had shut down production for almost two years due to crude oil theft and vandalisation of its assets by thieves. It resumed operations in Q4 last year and has steadily ramped up production in the asset that has the capacity to produce an estimated 100, 000bpd. The company also recorded remarkable exploits in Southern Africa with its successful acquisition of a Mozambique gas asset, Mazenga.
With this development, Aiteo becomes the operator of the asset which contains some of the biggest onshore gas reserves in sub-Saharan Africa. Announcing the spectacular feat, Aiteo revealed that the acquisitiondeal which places it in charge of the block, was formalised througfarm-.
