Nigeria’s First Exploration and Petroleum Development Company (First E&P) is setting its sights on gas exploration in East Africa as part of a growing trend among Nigerian energy firms to venture beyond local borders.

The company recently entered into an agreement with the Tanzania Petroleum Development Corporation (TPDC) to conduct technical evaluations and potentially develop the Mnazi Bay North Block in southern Tanzania. This area lies close to Mozambique’s prolific gas fields, which have attracted global attention in recent years.

George Toriola, Chief Strategy Officer at First E&P, revealed that the initial phase of studies will span six months, with the possibility of extending the timeframe. “Both parties are enthusiastic about moving swiftly,” he said.

This marks a strategic shift for First E&P, which currently produces around 57,000 barrels of oil per day. It follows the broader trend of Nigerian companies pursuing upstream and downstream projects abroad, especially after acquiring divested assets from major international oil firms operating in Nigeria.

Earlier this year, Oando Trading — another Nigerian player — secured a lease agreement for Trinidad and Tobago’s Petrotrin refinery. Meanwhile, Aiteo Group, owned by businessman Benedict Peters, is pushing ahead with plans to build a large-scale refinery in Mozambique.

Nigeria, while holding Africa’s largest crude oil reserves and abundant natural gas, continues to grapple with domestic energy challenges. With millions still lacking reliable power, the government is pushing for increased gas production to enhance electricity access and boost energy security.

First E&P was part of the consortium that purchased Shell’s onshore Nigerian assets for $1.3 billion in December 2024. According to CEO Ademola Adeyemi-Bero, the company is actively securing financing and remains open to new investment partnerships to fuel its growth ambitions.

“We know where the capital is and we’re ready to engage,” he stated.