LEKOIL Chief Executive Officer Lekan Akinyanmi told delegates at Africa Oil Week 2026 in Accra, Ghana, that the company is done assembling its portfolio and is now focused on production. "We have built the portfolio. Now it is about execution, production and creating value," he said at the conference, where the company participated as Platinum Sponsor.
The Nigerian oil and gas firm used the forum to outline a strategy shift from portfolio building to execution and value creation. Akinyanmi led the company's delegation and used the platform to engage government officials, investors, operators and other energy-sector stakeholders.
LEKOIL's portfolio spans five assets: Otakikpo in PML 11, OPL 276, OPL 325, OPL 310 and OPL 241. The mix gives the company exposure to current production, discovered resources and exploration opportunities. Advancing those assets will depend on phased development, regulatory approvals, funding and the right strategic partnerships, the company said.
Hamilton Esi, General Manager of Corporate Communications, said the company is open to outside help where it adds value. "Partnerships are welcome where they complement what we already bring, whether through capital, technology, technical expertise or development capability," Esi said.
The forum also gave LEKOIL a chance to push the case for exploration as a driver of Nigeria's crude oil production ambitions. Gloria Iroegbunam, Company Secretary and General Manager of Legal, said sustainable production growth requires continued exploration to discover new resources and mature them into reserves. Without new discoveries, existing fields alone will not sustain output targets.
Akinyanmi pointed to the company's track record in Nigeria as a foundation for the next phase. "We understand the geology, the regulatory environment and, importantly, what it takes to operate here," he said. LEKOIL has spent more than a decade building that operating experience.
For now, the company's immediate focus stays on Nigeria. The five-asset portfolio and the operating experience are both concentrated there. The longer-term ambition, however, is to grow into a broader African energy player, with Nigeria remaining the core market.
The path forward is concrete. Progress will be measured by the company's ability to advance its key assets, increase production and reserves, commercialise gas resources and attract the capital and partners needed to convert its portfolio into sustained growth. That means turning the discovered resources into producing fields and finding the money to do it.
LEKOIL's presence at Africa Oil Week as Platinum Sponsor signals how it wants to be seen. The company is not pitching exploration upside alone. It is presenting itself as an operator with producing assets, a pipeline of development opportunities and a clear ask: partnerships that bring capital, technology or technical expertise.
The company's leadership used the Accra gathering to make that ask directly to the people who matter. Government officials were there. Investors were there. Operators were there. LEKOIL's delegation worked the room.
The shift in language is deliberate. Portfolio building was the first phase. Execution is the second. Akinyanmi's statement at the conference drew a clean line between the two. The company has spent over a decade acquiring interests and understanding the terrain. Now it has to deliver production growth from what it holds.
The gas piece is part of the plan. Commercialising gas resources is listed among the measures of progress. That is a separate challenge from oil production, with different infrastructure needs and different buyers, but it is on the list.
The company's legal and corporate communications leadership both spoke at the forum, which shows the pitch is coordinated. Esi handled the partnerships message. Iroegbunam handled the exploration message. Akinyanmi delivered the overall direction.
Africa Oil Week in Accra was the venue. The conference is a regular stop for energy companies looking to make deals and set the agenda. LEKOIL chose it to lay out where it stands and what it wants.
The company's five assets in Nigeria give it a base. The question now is how fast it can move them forward, and who it brings in to help. The answers will determine whether LEKOIL becomes the broader African player it says it wants to be.
According to Pulse.ng.
