About Us

Who We Are
FAMFA Oil Limited is a leading indigenous oil and gas exploration company in Nigeria, known for our commitment to excellence, innovation, and sustainability. Founded in 1991 by Modupe and Folorunso Alakija, FAMFA Oil has grown to become a key player in Nigeria’s energy sector, contributing significantly to the nation’s economic development

Our Mission

Our mission is to harness Nigeria’s natural resources responsibly, driving economic growth while adhering to the highest standards of environmental stewardship and corporate governance. We are dedicated to delivering energy solutions that support the nation’s development goals and improve the quality of life for all Nigerians.

Our Vision

We envision a future where Nigeria’s energy sector is both sustainable and diversified. By focusing on the innovative utilization of gas alongside oil exploration, we aim to be at the forefront of the country’s transition to cleaner, more efficient energy sources. Our vision extends beyond energy production; it encompasses our role in fostering economic stability and social progress.

Famfa History

A history that began in the 1990s continues today on the road to energy transition

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September, 1991 Famfa was founded on faith and the confidence that Nigerians can and should invest in and explore the country’s energy and natural resources. This has been our driving philosophy August, 1993 Famfa was awarded the leasehold rights to OPL 216 on the 10th of August 1993 February 1996  The company’s name was changed to Famfa Oil Limited with the vision to be the leading indigenous oil & gas exploration and production company in Nigeria. September, 1996  Famfa Oil Ltd entered into a DOA with Star Deep Water Petroleum assigning to them a 40% participating interest in OPL 216. May, 1998 Petroleo Brasileiro (Petrobras) was invited onto the project for a participating interest of 8%, leaving Star Deep with 32% participating interest while Famfa retains her 60% interest. October, 2000 Texaco and all its subsidiaries including Star Deep Water Petroleum agreed to be bought by Chevron, thus making all Texaco subsidiaries affiliates of Chevron. December, 2004 Oil prospecting licence OPL 216 was granted a conversion to oil mining licence OML 127. February, 2005 A unitization agreement was signed between licence holders of OPL 216 and OPL 217 where Statoil was the operator with Texaco Nigeria Outer Shelf, Inc and Nigerian National Petroleum Corporation as partners. A unitization agreement became more feasible to limit the cost of production and maximize the amount of recoverable crude oil. The Agbami reservoir is straddled between OPL 216 and OPL 217. New Layer 2008-present The Agbami field has been operating since 2008 and will be operating for the forseeable future.