Gulf Energy Projects Limited is building the infrastructure to become Africa's foremost upstream gas development and monetisation company. From wellhead to value-added products — we have the team, the assets, and the partnerships to do what has not been done at scale in West Africa.
GEPL was formed to close that gap. We combine a founding director with 36 years of direct NNPC relationships, an EPCI contractor with a proven offshore conversion track record in comparable water depths, and a corporate structure built for long-term growth and African energy leadership.
GEPL has submitted a comprehensive due diligence package to our NNPC Group partner covering corporate structure, technical experience, and financial capacity. Gas Development Partnership Agreement is being advanced for execution in Q3 2026.
Gas-condensate development from virgin NAG reservoirs — shallow water, natural flow, zero flaring.
Owned MOPU and processing systems — GEPL builds and operates its own gas monetisation infrastructure, not chartered.
Gas-to-value-added products at scale — the Phase 3 vision positions GEPL among Africa's largest gas monetisation platforms.
GEPL combines Gulf of Guinea Midstream Limited's Nigerian upstream relationships with GSP Holding SA's offshore EPCI delivery capability. The result is a development company with the access, the tools, and the balance sheet to bring stranded gas to market.
36 years of Nigerian upstream experience spanning NNPC, Shell, Chevron, ExxonMobil and TotalEnergies transactions. As Nigeria's OPEC Representative 2005–2007 and former NNPC Executive Director, Joe brings unmatched access and credibility in the Lagos and Abuja energy community.
Founded GSP in 2003. In 20 years, built Romania's pre-eminent offshore EPCI contractor, owning 9 rigs and 17 vessels. Delivered Romania's first offshore gas production in 30 years at Midia Gas Development — lump-sum turnkey, on schedule, on budget. Prior project: Akcakoca Black Sea — same water depth concept as the current GEPL programme.
Executive Director, GEPL Nigeria · MD-Designate, GSP Nigeria Limited
Based in Lagos, Abdur leads GEPL's Nigerian operations, stakeholder engagement with the NNPC Group, and regulatory coordination across federal and state counterparties.
GSP delivered Romania's first offshore gas production in 30 years. The project is the single most powerful proof point for the GEPL programme — identical water depth concept, same contractor, first gas on time and on budget.
⚠ Asset-specific commercial details are shared under NDA following initial contact. The description below reflects publicly available information only.
GEPL is in advanced pre-agreement engagement with an NNPC Group subsidiary as development partner for an offshore gas-condensate licence in the Niger Delta. A comprehensive due diligence package was submitted in June 2026. The Gas Development Partnership Agreement is being advanced for execution in Q3 2026.
All gas currently produced on the licence area is flared — there is zero existing gas export infrastructure. GEPL's development mandate is to build the first gas monetisation infrastructure on this asset.
Programme Status — June 2026
GEPL is in advanced pre-agreement engagement with its NNPC Group partner. Due diligence submitted June 2026. Gas Development Partnership Agreement being advanced for execution Q3 2026.
GSP Orizont jackup rig converted to Mobile Offshore Producing Unit (MOPU) at GSP Agigea Shipyard, Romania. Conversion engineering by Zentech Incorporated, Houston. New NAG gas-condensate wells drilled. First gas-condensate production — the asset's first-ever gas monetisation.
Phase 1 cash flows fund expansion of processing capacity. Additional production wells drilled. Third-party gas hub potential — positioning the MOPU as a monetisation platform for nearby stranded resources.
Scale-up to an integrated upstream-to-value-added products platform — GEPL's long-term ambition to become one of Africa's largest gas monetisation companies. Phase 3 targets 5+ MTPA of gas-derived products, positioning the licence area as a major African energy hub.
The Mobile Offshore Producing Unit is the centrepiece of Phase 1. GSP Orizont, a jackup rig built in Romania and rebuilt at Lamprell, UAE, is being converted at GSP's Agigea Shipyard in Constanța to a standalone gas-condensate processing facility. Conversion engineering: Zentech Incorporated, Houston, Texas.
| Rig Name | GSP Orizont |
| Original Builder | Galați Shipyard, Romania — 1982 |
| Rebuild | Lamprell Energy, Hamriyah, UAE — 2010 |
| Classification | DNV GL (former Germanischer Lloyd) |
| Flag | Malta |
| Max Water Depth | 300 ft (91 m) — rated |
| Programme Depth | 12–15 m BSL ✓ Well within rating |
| VDL | 2,000 metric tonnes (operating) |
| Accommodation | 90 + 2 hospital beds |
| Conversion Yard | GSP Agigea, Constanța, Romania |
| Conversion CAPEX | ~US$150 million |
| Conversion Engineer | Zentech Inc., Houston TX |
| System | Specification |
|---|---|
| Inlet Separation | Three-phase — gas, condensate, water |
| CO₂ Removal | MDEA amine sweetening (design: 5.27% → ≤2.0%) |
| Gas Dehydration | TEG system — dewpoint –10°C @ operating pressure |
| HC Dewpoint Control | JT valve / refrigeration — 0°C specification |
| NGL Stabilisation | 32,000 bpd design capacity |
| Export Compression | Standalone — self-sufficient |
| Produced Water | Handling and reinjection — 3,000 psig |
| Fiscal Metering | Gas and condensate |
| Pig Trap | 20-inch bidirectional |
GSP Holding SA, GEPL's founding technical partner, owns and operates 9 jackup rigs and 17 vessels from its Agigea Shipyard base in Constanța, Romania. Assets are 100% owned — no charter exposure.
The GEPL MOPU candidate. Currently under conversion at GSP Agigea. ABS +A1 SEOI class. Built Romania 1982, rebuilt UAE 2010.
Candidate gas treatment jackup for Phase 2 expansion. CO₂ removal, TEG dehydration, condensate stabilisation capability.
Phase 2 utilities jackup candidate. F&G rig type. Extensive engineering history with complete drawing sets available at GSP Agigea.
| Asset | Type | Class / Rating | Notes |
|---|---|---|---|
| JACKUP RIGS (9) | |||
| GSP Orizont | Jackup rig | DNV GL · 300ft rated | MOPU conversion — GEPL Phase 1 |
| GSP Atlas | Jackup rig | ABS | Gas treatment candidate — Phase 2 |
| GSP Fortuna | Jackup rig | ABS | Utilities candidate — Phase 2 |
| GSP Jupiter | Jackup rig | — | GSP operated |
| GSP Mars | Jackup rig | — | GSP operated |
| GSP Saturn | Jackup rig | — | GSP operated |
| GSP Uranus | Jackup rig | — | GSP operated |
| GSP Vega | Jackup rig | — | GSP operated |
| GSP Prometeu | Jackup rig | — | GSP operated |
| VESSELS (17 — includes AHTS, construction, supply, accommodation, barges) | |||
| Full vessel register available on request. Assets include AHTS vessels, construction barges, pipe-lay barges, accommodation vessels and crane barges. All 100% owned by GSP Holding SA. | |||
Nigeria flares approximately 7 billion cubic feet of gas every day — wasted energy and avoidable emissions. GEPL exists to convert that waste into productive use. Every molecule of gas we monetise is a molecule that would otherwise be burned into the atmosphere with zero economic return to Nigeria.
The GEPL programme's primary environmental output is flare elimination. Every MMscfd of gas we monetise is gas that would otherwise be burned. We target full IFC Performance Standards compliance and Equator Principles alignment for all project financing.
Nigeria's gas resources should generate lasting economic value for Nigerians. GEPL's Nigerian incorporation, local management team, and partnership-first engagement model places community benefit at the centre of our mandate. Local content compliance is a baseline, not a target.
Netherlands-Nigeria BIT protection, DNV GL-classified assets, Odujinrin & Adefulu legal oversight, and independent financial auditing by BANTS Advisory. Our corporate structure is designed for institutional-grade governance from the outset — not retrofitted for compliance.
GEPL's project structure is designed to meet the highest international standards for environmental and social governance. Our approach aligns with the frameworks used by leading development institutions:
Safety record
GSP Holding SA has operated offshore assets for over 20 years with zero fatalities in the period 2013–2023. All operations are conducted under ISO 9001, ISO 14001, and ISO 45001 certified management systems.
Nigeria's Decade of Gas
Presidential Directive 40 exempts natural associated gas (NAG) development from hydrocarbon tax. GEPL's programme qualifies. The policy tailwind is structural, not cyclical.
GEPL has engaged tier-one advisers in each domain critical to the project. Adviser relationships are independently verifiable.
One of Nigeria's leading independent energy law firms. Advising GEPL on Nigerian corporate structuring, CAC compliance, NNPC partnership documentation, and NUPRC regulatory engagement. Contact: Dr. Adeoye Adefulu · Morenikeji Oyeleke.
odujinrinadefulu.comHouston-based offshore structural and conversion engineering firm. Zentech is leading the GSP Orizont conversion design — topsides layout, VDL analysis, structural integrity. 8 Greenway Plaza, Suite 300, Houston TX 77046.
zentech.usDeloitte Nigeria is GEPL's strategic and financial advisory partner, supporting project structuring, economics validation, and corporate development. Engagement managed through the Lagos Transaction Advisory practice.
deloitte.com/ngLast updated: June 2026
GEPL submitted a comprehensive due diligence package to its NNPC Group subsidiary partner ahead of the June 2026 deadline. The package covers executive management credentials, Nigerian and Dutch statutory filings, corporate ownership structure, technical partnership documentation, technical experience including the Midia Gas Development reference, and three years of audited financial accounts for GSP Holding SA. The submission marks the formal conclusion of the partner vetting phase and advances the Gas Development Partnership Agreement toward execution, targeted Q3 2026.
GEPL is engaging senior executives of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to advance its participation in the 2026 Licensing Round. GEPL's offshore development capability, Nigerian corporate presence, and international holding structure position the company as a strong candidate for new licence participation as Nigeria accelerates its upstream gas monetisation agenda.
GEPL has retained Zentech Incorporated of Houston, Texas as conversion engineers for the GSP Orizont jackup-to-MOPU programme. Zentech — specialists in offshore structural and conversion engineering with ABS, DNV GL and Lloyd's Register approval — are leading the topsides layout, variable deck load analysis, and structural integrity assessment for the conversion at GSP's Agigea Shipyard in Constanța, Romania. The GSP Orizont has been formally designated as GEPL's Phase 1 Mobile Offshore Producing Unit.
Gulf Energy Projects Limited was incorporated on 1 February 2026 under the Companies and Allied Matters Act (CAMA) 2020 as a private company limited by shares, registered with the Corporate Affairs Commission under RC 9269405. The Nigerian operating company is the regulatory and operational counterpart through which GEPL engages the NNPC Group, the Nigerian Upstream Petroleum Regulatory Commission, and Nigerian counterparties across the upstream value chain.
GEPL B.V. (Besloten Vennootschap) was established in the Netherlands and registered with the Dutch Chamber of Commerce (Kamer van Koophandel) under KVK number 42040530, with registered office at Schiphol Boulevard 127, 1118 BG Schiphol. The Netherlands holding structure provides investment protection under the Netherlands–Nigeria Bilateral Investment Treaty, access to Dutch banking relationships, and a clean, internationally recognised corporate platform for GEPL's West African upstream development programme.
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Last updated: June 2026