About Us
West African Exploration and Production Company Limited is a Limited Liability Company incorporated under the laws of the Federal Republic of Nigeria on 25th February, 2014.
Company Overview
WAEP is a registered company with the Corporate Affairs Commission of Nigeria, with RC No: 1173358. We have a strategic partnership/alliance with Dangote Exploration Assets Limited (80%), Dansa Energy Resources Limited (5%) and First Exploration and Petroleum Development Company Limited (15%).
In 2015, WAEP acquired a 45% working interest in OML 71 and OML 72 from the SPDC JV (Shell Petroleum and Development Company of Nigeria Limited, Total E&P Nigeria Limited and Nigerian Agip Oil Company Limited). The company is the operator of OML 71 and OML 72 on behalf of the WAEP-NNPC JV. These blocks are located south of the Bonny Island. There are 7 major discovered fields in OML 72 namely – Kalaekule, KD, Koronama, Kugbe, KL, KQ, Kappa, while OML 71 has 2 main fields called KI and KI south.
Of all the fields, only Kalaekule has been developed and produced. The field was in production between 1986 and 2002 with average production of c.22,000 bbl/d and was shut-in by the SPDC JV in 2002 to allow for a planned refurbishment of the field facilities.
The estimated HCIIP volume in OML 72 is 1,149MMstb of oil and 2.447Tcf of Gas whilst OML 71 is estimated to have 158MMstb of oil and 1.4Tcf of gas thus presenting an opportunity for significant oil and gas development.
Our Core Values
At WAEP we share a set of core values that define who we are and how we conduct our business:
- Safety
- Professionalism
- Integrity
- Respect
- Innovation
- Teamwork
- Diversity
What drives us
Our Mission is to deliver sustainable operational excellence while growing the resource base with highly diverse and motivated staff.
Our Vision is to be the most efficient, innovative and independent Exploration and Production Company creating value for all stakeholders.
Olajumoke Cecilia Ajayi
Managing Director
Her peers in the nation’s Oil & Gas industry are few. Her reputation has become a reference statement of competence and resourcefulness while her accomplishments are ringing endorsements of the value of genius and productivity of vision.
Olajumoke Cecilia Ajayi served as the Managing Director/CEO of Ingentia Energies Limited until the end of February 2026, and in March 2026, she assumed the role of Managing Director/CEO of West Africa Exploration and Production Company (WAEPCo).
With over twenty-five years of distinguished experience in the oil and gas industry, she is widely recognized as one of the pioneering female leaders in Africa’s upstream sector, bringing strategic vision, operational excellence, and deep industry expertise to every organisation she leads.
She holds a Bachelor of Science degree in Applied Geophysics from Federal University of Technology, Akure and a Master of Science degree in Applied Geophysics from University of Lagos.
Her professional journey began at Mobil Producing Nigeria Unlimited (ExxonMobil). Over the years, her technical expertise and leadership capabilities propelled her through several reputable organizations, including Asharami Energy Ltd. (the upstream arm of Sahara Group), Centrica Resources Nigeria Limited (British Gas), Peak Petroleum Limited, and Degeconek Consulting.
OPERATIONAL HEAD OFFICE
Waterfront Plaza, 270A Ozumba Mbadiwe Avenue,
2nd Floor, Ecobank Building,
Victoria Island, Lagos, Nigeria.