Shell Western Supply and Trading Limited, a subsidiary and key trading entity of Shell plc based in Barbados, has been advised by Aluko & Oyebode on advancing a financing package to Emadeb Energy Services Limited in support of the development of the Ibom Field under Petroleum Prospecting Licence 236 in Nigeria.
Emadeb E&P acquired Ibom Field in the 2020 Marginal Field Bid Round and has since invested over $100 million in a phased field development programme, for which the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) approved the Ibom Field Development Plan (FDP) in November 2024.
The financing comprised complementary facilities, including a prepayment facility provided by Shell Western Supply and Trading Limited against future crude oil deliveries, structured to support the Borrower’s working capital and ongoing field development, and a term loan facility and working capital facility provided by a commercial bank in Nigeria.
Shell Western Supply and Trading Limited, whose services include providing structured financing packages and energy sector support such as backing local energy field and infrastructure developments in Nigeria) participated as both the prepayment lender and the offtaker, forming part of the overall financing and offtake structure, supporting the development and monetisation of the underlying assets.
The Ibom Field development, operated by Emadeb Petroleum Exploration and Production Company Limited, forms a critical part of Nigeria’s strategy to grow domestic production capacity through indigenous operators. The financing will support ongoing field operations and a Phase 2 development programme.
The Ibom Field Phase 2 development programme involves drilling and completing new production wells and developing the platform. Emadeb announced first oil in 2025 and said it is preparing for the second phase of the development, drilling two additional wells that will triple production by the fourth quarter (Q4) of 2026.
The team was led by Partner Oludare Senbore, supported by Senior Associate Elijah Joseph and Associates Chigornum Weli-Igwe, Esther Yugbovwre, Oluwaseyi Olayinka and Zainab Hassan.
Adebowale Olujimi, Chief Executive Officer (CEO), Emadeb, has, in previous remarks, hinged on the company’s unprecedented achievement, demonstrating strong commitment to unlocking Nigeria’s hydrocarbon potential through local expertise, strategic partnerships, and prudent investment
Shell Western Supply and Trading Limited primarily businesses are dwelled on Crude Oil Trading: Buying, selling, and marketing crude oil globally, Petroleum Products Trading: Managing the supply, marketing, and wholesale merchant distribution of refined petroleum and petrochemical products.
The company also trades in Transportation & Logistics: Coordinating the maritime and physical transport of energy commodities, with a strong operational focus on markets across West Africa and Latin America.
