Nigeria’s ADM eyes further upstream acquisitions

Nigerian independent ADM Energy is seeking more West African assets to further its recent growth

“We remain in the market for new opportunities to accelerate our growth...it remains a buyer’s market”, ADM Energy’s CEO Osamede Okhomina says, while also specifying “high quality assets in West Africa with substantial upside.” The firm “is in a strong position to de-risk projects through our technical expertise and access to capital,” he adds. Earlier this year the company acquired a controlling interest in a Risk Sharing Agreement (RSA) for the Barracuda field (OML-141), an existing discovery which covers a large area of the Niger Delta. ADM has commissioned an on-going technical survey. ADM also still has a strategic alliance in place with trading firm Trafigura. Their agreement was exten

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