Company Milestoes

2023
2023
Waltersmith and Associates Limited (“WSA”)

We are responding to the dynamics of the energy landscape.

In furtherance of the above, Waltersmith has embarked on an organization wide-review to position ourselves strategically and efficiently in line with current energy realities in our operating environment.

We aim to achieve the following:

  1. Reduce operating costs within acceptable levels and ensuring sustained business continuity in the face of the challenging economic outlook.
  2. Continuous improvement in our business to ensure utmost and efficient delivery.
  3. Detailed integrated decision-making process and a streamlined operating structure.
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    • 2020
    2020
    5,000bpd Modular Refinery Commissioning & Groundbreaking for 45,000 Refinery
    • Waltersmith Refining & Petrochemical Company Limited (WRPC) is currently developing a 50,000bpd refinery situated near the Ibigwe Field flowstation through a phased expansion strategy.
    2020
    Signing Ceremony with UNIDO & UNECA for our Industrial & Innovation Park
    • Waltersmith, UNIDO & UNECA  signed a Technical support agreement with respect to the development of an Industrial Park by Waltersmith which will attract petrochemical, pharmaceutical, research and other light manufacturing companies that feed off the hydrocarbon value chain.
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    2019
    2019
    Awarded EG-23
    Awarded EG-23
    • Waltersmith was awarded offshore block EG-23 by the Government of Equatorial Guinea.
    2018
    2018
    Attained production rate of 7,000 bopd
    Attained production rate of 7,000 bopd
    • Waltersmith attained production rate of 6,000boepd and drilled Ibigwe 9,10,11wells.
    2012
    2012
    Concluded the drilling, work over and completion of 4 wells
    Concluded the drilling, work over and completion of 4 wells
    • Concluded the drilling work-over and completion of 4 wells. Production also ramped up to circa 4,400boepd and a 15,000boepd flow station was installed. Waltersmith also acquired interest in OML 34 as part of the ND Western Consortium.
    2011
    2011
    Commenced 2nd phase of workover & 4 drilling campaign.
    Commenced 2nd phase of workover & 4 drilling campaign.
    • Waltersmith commenced its 2nd phase of Work Over & Drilling Campaign.
    2010
    2010
    Installed gas lift facility
    Installed gas lift facility
    • Waltersmith ramped up production to circa 2,200boepd.
    2009
    2009
    Commenced 1st phase of drilling campaign
    Commenced 1st phase of drilling campaign
    • Commenced 1st phase of Drilling Campaign. Drilled and completed Ibigwe 4 & 5 wells.
    2008
    2008
    Completed re-entry of two existing wells
    Completed re-entry of two existing wells
    • Completed the re-entry of two existing wells (IB-1&2), installed an EPF and attained first oil at an average production of 500boepd. Waltersmith also commenced commercial export.
    2007
    2007
    Executed Crude Handling Agreement , Sale & Purchase Agreement with SPDC
    Executed Crude Handling Agreement , Sale & Purchase Agreement with SPDC
    • Executed Crude Handling Agreement, Sale & Purchase Agreement with SPDC.
    • Planned Field Development Plan
    2004
    2004
    Executed Crude Handling Agreement , Sale & Purchase Agreement with SPDC
    Executed Crude Handling Agreement , Sale & Purchase Agreement with SPDC
    • Waltersmith executed a farm-out Agreement with SPDC JV and took over ownership and Operatorship of the Ibigwe Field.
    2003
    2003
    Waltersmith participated in the first Nigerian Marginal Oil Field licensing
    Waltersmith participated in the first Nigerian Marginal Oil Field licensing
    • Waltersmith participated in the first Nigerian Marginal Oil Field licensing round organized by the FGN and was awarded the Ibigwe Field located in OML 16.
    2001
    2001
    Waltersmith became a wholly owned Nigerian company
    Waltersmith became a wholly owned Nigerian company
    • Waltersmith became a wholly-Nigerian owned company. 
    1996
    1996
    Incorporation of the company
    Incorporation of the company
    • Incorporation of the company as a joint venture between Waltersmith & Associates and Petroman Oil Limited.

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