FF Millenium Towers, Plot 13/14 Ligali Ayorinde Street, VI, Lagos
We are a wholly Nigerian group of companies committed to solving energy challenges with a focus on business excellence and optimum value to stakeholders
OUR HISTORY
2005
Incorporated as a technical and financial partner in Egbaoma marginal field with a 40% equity holding.
2011
Began investments in the energy sphere with focus on gas utilization in line with global steer on carbon emission reduction.
2014
• Participated in the 2014 SPDC JV divestment.
• Secured operatorship and a 45% equity in OML24.
• Secured operatorship and a 45% equity in OML24.
2010
Secured 90% participating interest in OPL 283 (now OML 152).
2012
Secured 90% participating interest in OPL276.
2020
Began active play in the Alternative Energy space.
Vision
To solidify our position as a recognized energy leader through innovation, sustainability and regional growth.
Mission
To deliver sustainable energy solutions that foster growth and creates shared long-term value for stakeholders.
Core Values
Resilience
We persistently overcome challenges, adapt to change, and thrive in adversity, driving our success and ensuring long-term business sustainability.
Innovation
We continuously and intentionally explore new ideas and approaches, pushing the boundaries to deliver innovative energy solutions for a rapidly evolving world.
Safety
We prioritize the well-being and security of our employees, partners, and communities, fostering a culture of safety as the foundation upon which we build trust and sustain our operations.
Excellence
We relentlessly pursue excellence throughout our business, striving for superior performance and operational efficiency, in pursuit of giving value and exceeding the expectations of our stakeholders.
Sustainability
We are committed to a sustainable future, integrating the highest environmental, social, and governance standards to ensure responsible energy production.
GROUP BOARD OF DIRECTORS
Dr. Festus A. Fadeyi
Group Chairman/Founder
Dr. Festus Fadeyi is a pioneering oil executive who spearheaded indigenous participation in Nigerian marginal field development as Managing Director of a local oil company in joint venture with the Federal Government. He obtained his Bachelor's degree in Accounting from California State University, Pomona in 1970, followed by an MBA in Behavioural Sciences from Pepperdine University and CPA certification in 1971.
After completing his Ph.D in Business Administration from the University of Southern California in 1973, Dr. Fadeyi achieved success in U.S. manufacturing and retail before returning to Nigeria. He joined the oil sector in 1974 with Pan Ocean Oil Corporation, eventually assuming leadership of the company. As a Pathfinder Award recipient in the Nigerian Oil and Gas Hall of Fame, he has successfully led aggressive exploration and production campaigns across the Niger Delta.
Dr. Jason Fadeyi
Group Vice Chairman
Dr. Jason Fadeyi is a physician by training, a fellow of the American Academy of Pediatrics, and a Member of the American Academy of Medicine. He obtained his Bachelor's degree from Yale University and a combined medical degree and M.B.A. from the University of Pennsylvania School of Medicine and the Wharton School.
After several years of medical practice, Dr. Jason Fadeyi delved into strategic management consulting, briefly working at McKinsey & Company, a global strategy consulting firm, before becoming a founding Partner of CSS Corporate Solutions LLC, a management consulting firm based in New York. CSS focuses primarily on strategic business issues in the oil and gas sectors.
Prior to this appointment, he was initially an Executive Director with Newcross Petroleum Limited, then subsequently with the Newcross and Pan Ocean Group of Companies, focusing on business strategy and finance.
Mr. Steven Fadeyi
Group Managing Director
Steven Fadeyi serves as Group Managing Director of Pan Ocean Oil Corporation, Newcross Petroleum Limited, and Newcross Exploration and Production Limited. He previously served fourteen years as Executive Director focusing on operational excellence before his current appointment. He obtained his J.D. from St John's School of Law, New York, and a Bachelor of Arts in Psychology and Public Health from Tufts University.
Steven began his career at the World Health Organization in 2003, working in legislation and international policy, before joining CSS Corporate Solutions as Partner in 2007. As an established attorney with two decades of experience in international business policy and energy sector operations, he combines legal expertise with strategic business leadership and philanthropic initiatives focused on sustainable growth.
Dr. Bolaji Ogundare
Group Executive Director
Following a successful career as a Professor of Oral and Maxillofacial Surgery, Dr. Ogundare moved into the upstream sector of the Oil and Gas industry in 2007, when he joined Newcross Petroleum Limited as a consultant, focusing on corporate strategy and implementation of emerging management trends in an operating environment. He later rose to become the Managing Director of Newcross Petroleum Limited.
Throughout his 17 years in institutional management and science practices, he has attended numerous programs and workshops in the field of management targeted towards energy production, conservation and renewable sources in the oil and gas industry.
Dr. Oluseyi Oladapo, FCA, Ph.D
Group CFO / Director
Dr. Oluseyi Oladapo is a Chartered Accountant and a certified Credit &
Financial Examiner (CCFE), with long-standing hands-on experience in
Financial & Treasury Management; Oil & Gas Project Financial Planning
& Corporate Finance; Oil & Gas Asset Management; Budgeting, Financial
Controls & Enterprise Risk Management; Project & Change Management; Business Valuation; Mergers & Acquisition; Corporate Tax Planning & Management and performance measurement for over two decades. He has a B.Sc in Accounting; an M.Sc in Applied Economics, a Professional Masters in Project Management, and a PhD in Credit
Management. He is a Fellow of the Institute of Chartered Accountants of
Nigeria, the Chartered Institute of Taxation of Nigeria; the Institute of
Credit Administration and is a certified Credit & Financial Examiner from
London Postgraduate Credit Management College. He has worked in various sectors, from Audit & Advisory firm to the Academia. He is
currently the Group Chief Financial Officer (GCFO) of the Pan Ocean and
Newcross Group. Oluseyi is an active board member of several blue-chip companies and has won several prizes and awards for his exceptional professional performances. He also has several scholarly publications to his credit.
Dr. Victor Sodje
Managing Director, NewcrossEP / Director
Victor Sodje is a registered professional engineer with more than 25years of petroleum industry experience.
He began his career as a Drilling Engineer with Shell Petroleum
Development Company of Nigeria (SPDC), and has working in all
aspects of Drilling and Completions, Production and Maintenance,
Hydrocarbon Accounting, and Asset Management within the Shell
Group.
His depth of experience includes direct responsibility for the assets in
OML 24. He is very familiar with the assets in Newcross Exploration
and Production Limited, including the opportunities and challenges.
Engr. (Dr.) Gregory. O. Ero
Director
With over 30 years’ experience in multiple roles in the energy sector, Dr. Ero is also the Chairman of Arkleen Oil and Gas and Arco.
He maintains a strong relationship with the government.
Alhaji Aminu Yusufu
Director
Alhaji Aminu Yusufu is on the Boards of Pan Ocean Oil Corporation (Nigeria) Limited and Newcross Petroleum Limited.
A business tycoon and renowned agriculturist with tremendous strides in the Nigerian agribusiness industry.
The Yusufus have been on the Board of Newcross Petroleum Limited (Newcross) since inception.
