Aiteo Group
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DELIVERING AFRICA’S ENERGY FUTURE
NIGERIA’S FOREMOST ENERGY CONGLOMERATE.
Aiteo Group is Nigeria's foremost energy conglomerate with an international outlook. Founded in 1999 with the vision of becoming the future of energy, Aiteo is a full-spectrum, integrated petroleum, and energy company with strategic investments across the energy and power value chain including oil and gas exploration and production, bulk petroleum products storage, marketing and distribution of refined petroleum products, oilfield services, electricity generation and distribution, LPG bulk storage with a fast-developing retail distribution network.
The company is focused on serving the energy needs of communities across the country and beyond, by leveraging our unique combination of a strategic asset base, technology, innovation, and some of the best technical and business minds in the industry.
Our interest in energy resource production is focused on building a dependable foundation for economic growth, sustainable development and a launch pad for business and technology through the provision of energy to meet growing demand.
The group’s main subsidiary, Aiteo Eastern Exploration and Production Company Limited (AEEPCo) is the operator of OML 29, an NNPC-Aiteo Joint Venture. It also operates the 97-kilometre Nembe Creek Trunk Line (NCTL). NCTL is a critical national oil pipeline that carries oil from multiple fields within five license areas (OML25, 24, 18 & 53) including OML29 to the Bonny Crude Oil Terminal operated by Shell.
AITEO EASTERN EXPLORATION AND PRODUCTION COMPANY
Aiteo Eastern Exploration and Production Company Limited (AEEPCo) is the group’s main subsidiary. AEEPCo is the operator of OML 29, the largest onshore block in Sub Saharan Africa with an area extent of 990sq-KM, which is an NNPC-Aiteo Joint Venture. It also operates the 97-Kilometre Nembe Creek Trunk Line (NCTL), which serves as an industry-wide evacuation pipeline for produced fluids from flow stations in Bayelsa to the Bonny Terminal in the Eastern Delta region of Nigeria.
From its acquisition of OML 29, the company has overseen an outstanding production growth, with output increasing from 25kbpd to about 90kbpd in a little over a year. The Company has been instrumental to the growth of the local sector by constantly ensuring availability of high quality refined products nationwide to meet the energy requirements of a growing population.
Operating on 6 AGG compressors, Aiteo currently produces significant amount of liquified natural gas and liquified petroleum gas from reserves from gas reserves at OML 29 and has an agreed Joint Venture investment plan which will increase oil production levels above 150,000 bpd and gas utilization of more than 200Mmscf/day. This will make Aiteo a major independent gas producer in Nigeria.
AITEO ENERGY RESOURCES LTD
Aiteo’s downstream business is the pioneer subsidiary in the group, primarily established as an energy trading company, but today has become a trail blazer in the petroleum sector. The Company has been instrumental to the growth of the local sector by constantly ensuring availability of high quality refined products nationwide to meet the energy requirements of a growing population.
Aiteo’s services span both international and local borders. On the international front, it engages in the trading of; Crude oil, Crude oil derivatives and refined products. Locally, the company engages in bulk petroleum products storage and the trading, marketing & distribution of refined products; Premium Motor Spirit (PMS), Automotive Gas Oil (AGO) and Dual-Purpose Kerosene (DPK).
Aiteo is ranked amongst the largest indigenous petroleum marketing companies in the downstream sector, in terms of product importation and storage capacity. With a combined storage capacity in the excess of 230 million litres, it presently has one of the largest, private storage facilities for refined petroleum products in Nigeria.
AITEO POWER
Aiteo Power Generation Company is exploring the gas-to-power strategy to develop a pipeline of power generation projects, leveraging the significant gas resources in OML 29.
As the preferred bidder for the Alaoji Power Generation company, the company plans to create a power generation hub in the Niger Delta for nationwide distribution.
Aiteo’s power generation efforts also cover the development of renewable energy through the development of multiple floating solar energy power projects within the sub-Saharan region.
Our strategic plan for power generation feeds off the Aiteo Gas production line, which also provides gas for domestic use across the country
HEALTH, SAFETY AND ENVIRONMENT
At Aiteo Safety is our most important policy. We carefully adhere to globally accepted standards for safety and health. Our employees are well trained to reduce the risk of accidents, making the workplace safer, healthier, and more productive. The company is committed to proactively managing its impact on the society and the environment.
SUSTAINABILITY
Aiteo has earned its position as Nigeria’s foremost independent energy company through a divestment process that saw several indigenous companies enter the energy space. Our mantra, The future is Aiteo is a statement of fact which takes credence from the group’s investment in sustainable practices, stellar human resource management and cutting-edge technology deployed through innovative systems to maintain a safe environment within our communities of operation whilst optimizing production
Aiteo’s portfolio is substantial across the energy value chain aimed at providing energy solutions in the immediate in Sub Saharan Africa, and beyond. As the continent’s energy needs grow over the next decade, so our sustainable investments be proportionally aligned to adequately meet this demand. In the Aiteo way, we would deploy the best people, social best practices and technology to our goal of building the economy through human capital development.
SOCIAL INVESTMENT
Through the years the Aiteo Group has contributed to various local initiatives and social development programs across the continent. The company’s philanthropic efforts focus on creating sustainable value to the Nigerian society and addressing burning local issues such as national unity, youth empowerment and community development. As an energy giant that is focused on delivering the future, Aiteo is committed to reinforcing unity as a launch pad for collaboration in Nigeria, through a common language; Football.
Its investment in sports in Nigeria is one of the major planks of its social responsibility programme, which is its commitment to giving back to the communities where it operates.
Today, Aiteo’s support for sports transcends the shores of Nigeria, especially with its current $2million sponsorship deal with the Confederation of African Football, CAF, for the yearly African Footballer of the Year Award – rewarding excellence in the game on a continental level, along with socially sustainable initiatives with its partner.
In Nigeria, Aiteo currently sponsors the Nigerian Federation Cup, as well as Nembe City FC, playing in the Nigerian Nationwide League.
A notable milestone in Aiteo’s support for sports was witnessed April 2017, when the company signed a N2.5 billion five-year mega sponsorship deal with the Nigeria Football Federation, NFF, to boost football development in Nigeria. The deal grants exclusive rights to Aiteo Group and will cover all local and foreign components of the NFF’s financial obligations for its main teams.
The NFF deal culminated in Aiteo supporting the country’s flagship national football team, the Super Eagle, providing a support that is unprecedented in the history of the team.
In one instance, Aiteo promised the team N10 million for every goal scored against the Cameroonian national football team in the 2018 FIFA World Cup Qualifier, to motivate the team towards ensuring Nigeria qualified for the World Cup and to support the ailing goal-keeper of the team, Carl Ikeme.
Aiteo’s support yielded fruit; the Super Eagles had a near perfect record in the qualifiers, winning all its matches, except for one, which was a draw with the Cameroonian team. At Russia 2018, the Super Eagles were inspired to victory courtesy of a clean sheet goal bonus of $50,000.
Aiteo’s corporate social responsibility (CSR) strategy is based on three elements: corporate philanthropy, education, and support for its local communities.
In corporate philanthropy, Aiteo makes donations annually to churches, registered charities, and not-for-profit charitable organizations.
We are involved in various social investment projects, while its core funding areas are in: education; creating political awareness and improving governance; arts and culture; and community development.
In education, Aiteo is committed to promoting the study of engineering in the communities within which we operate, while being committed to providing scholarships annually for higher-level education. In June, 2019 the group donated about N1 Billion to the Bayelsa State Education Trust Fund and Primary Health Care Schemes.
By supporting our local communities, we believe we can empower individuals to become wholly involved in civic duties, business roles and government; engage in personal development through an interest in the arts, charity, and welfare; and encourage others to excel in their careers, or to pursue educational opportunities they may previously have missed.
DELIVERING THE FUTURE OF ENERGY
At Aiteo, we have a clear vision for the future, which is to become one of the global leaders in energy exploration, production, and distribution. With the experience acquired and assets developed over the past two decades, we have the competence required to provide oil and gas on a regional and global scale using best practices.
We are focused on delivering economic viability that comes with stable energy supply whilst maintaining a safe environment for communities. We have the vision and the ambition to deliver energy solutions that will stimulate economic activities, create opportunities, and build a better future.
Our operations are guided by the principles of sustainability: environmental-consciousness, inclusive operations and superior health and safety policies.
The foundation of our growth strategy is the motivational drive and expertise of our employees, who are innovative, technically sound and committed to working with integrity, as they engage and build strong links with our stakeholders to deliver substantial value, recognized and appreciated by all. These diverse and vastly experienced leaders are the forward-thinking minds that are boldly delivering Nigeria’s energy future. The future of Nigerian energy is here.
The future is Aiteo.
RECOGNITION & AWARDS
Aiteo’s outstanding performance in the industry and its commitment to social development and sustainability has attracted several awards from reputable organisations over time.
The company has received the following awards;
2019
Upstream Company of the Year 2019 – BusinessDay Newspapers Awards.
2018
Oil and Gas CSR/Sustainability Company of the Year (Upstream) – The Guardian Newspaper
Oil and Gas Company of the Year (Upstream Indigenous) – The Guardian Newspaper
Oil and Gas CEO of the Year (Upstream Indigenous) – The Guardian Newspaper
Corporate Sponsor of Football Award – Nigeria Pitch Awards
2017
Company of the Year – New Telegraph Newspaper.
Company of the Year – Leadership Newspaper.
Company of the Year – Business Day Newspaper.
Indigenous Company of the Year Award – Nigeria Oil & Gas Summit / CWC
Oil Industry Leadership Award – Petroleum Technology Association of Nigeria , PETAN / OTC 2017
Corporate Sponsor of Football Award – Nigeria Pitch Awards
The Future is Aiteo