Oil & Gas Production
From onshore Nigeria to offshore West Africa, Waltersmith is expanding its E&P footprint with a growing portfolio of productive assets, strategic partnerships, and scalable infrastructure.
Overview
Exploring, Producing, and Maximizing Nigeria’s Energy Potential
Waltersmith Petroman Oil Limited (WSPOL) is a fully indigenous upstream operator focused on sustainable exploration, appraisal, development, and production of oil and gas resources. With operational excellence at our core, we manage a growing portfolio of assets that include Ibigwe Field, Assa Field, OML 34, and offshore Block EG-23 in Equatorial Guinea.
Ibigwe Field (PML 5)
- Size and Location: Size: 15.8 km², 30 km southwest of Owerri, Imo State
- License Type: Petroleum Mining Lease (converted under PIA 2021)
- History: Farm-out agreement with SPDC JV executed in 2004
- Sustainable production achieved through targeted subsurface studies, drilling campaigns, and surface facility upgrades
- Reserve base has grown by over 100% due to efficient asset stewardship
- Ongoing focus on opportunity maturation using advanced technology and well delivery optimization
- Recognized for responsible and environmentally sound production practices tailored to mature assets
Assa Field (PPL 243)
- Location: 35 km southwest of Owerri, Imo State
- Size: 12.59 km²
- License Type: Petroleum Prospecting License (converted under PIA 2021)
- Discovered by: Shell in 1961; Historical oil production began in 1971
- Shut-in: 2003 due to production challenges
- Farm-out Agreement: Executed with SPDC JV in 2022
- Converted to PPL: In 2023 under the new PIA regime
- Currently undergoing redevelopment to restore commercial production
OML 34
- Location: Western Niger Delta, 950 km²
- Interest: 3% direct interest, 8.3% in ND Western Consortium
- Producing Fields: Ughelli East, Ughelli West, Utorogu
- Oil Capacity: 105,000 bpd
- Gas Capacity: 600 mmscfd (3 NAG plants)
- Major contributor to Nigeria’s domestic gas supply