Aiteo Group

Aiteo Eastern Exploration and Production Company Limited (Aiteo) is a Nigerian indigenous oil and gas company founded by Benedict Peters, a Nigerian oil magnate born in 1967. In 2015, Aiteo led a consortium that acquired the 45% operated interest in Oil Mining Lease 29 (OML 29) and the Nembe Creek Trunk Line (NCTL) from Shell, Total, and Eni for USD 2.4 billion, making it one of the largest oil transactions ever led by a Nigerian indigenous company. OML 29 is one of Nigeria's largest onshore oil blocks with crude production of over 100,000 barrels per day at peak. Benedict Peters is also the founder of the Joseph Agro Foundation and has been recognised as one of Africa's most influential oil and gas executives.