Famfa Limited was incorporated in September 1991. Famfa Limited was awarded the leasehold rights to OPL 216 on August 10, 1993. In February 1996, the name was changed to Famfa Oil Limited with the vision to be the leading indigenous oil and gas exploration and production company in Nigeria.
Famfa Oil Limited is currently one of the largest indigenous Nigerian owned exporters of crude oil in Nigeria. Famfa Oil is committed to developing one of the deepest and largest offshore discoveries in the gulf. The Agbami field has been operating since 2008 and will be operating through till 2024 when the majority of its vast reserves would have been extracted.