Newcross is an indigenous Nigerian company which acquired a 40% interest in the Egbaoma field in OML38 in which it acts mainly as operator and technical partner. Newcross Energy Ltd, a subsidiary is an interest holder in the Egbaoma gas plant.
In 2005, Newcross acquired a 40% participating interest from PPL in the Egbaoma (formerly referred to as Umutu) field in OML38 in which it acts mainly as a financial and technical partner. The JV partnership achieved first oil at the Umutu field and began production at a daily output of 3,000 barrels. In the same year, the Company commissioned a 10,000 bopd capacity flow station and a 48 kilometer evacuation pipeline to Kwale, Delta state.

In 2010 and as part of its efforts towards becoming an active, fully indigenous player in the upstream and midstream sectors of the Nigerian oil and gas industry, Newcross entered into a PSC with the NNPC through the acquisition of 90% participating interest in OPL283 from Centrica Resources Nigeria Limited (60%) and CCC Oil & Gas Nigeria Limited (30%). The remaining 10% is owned by Rayflosh Petroleum Limited, the local content vehicle (LCV) partner from the previous ownership.
In 2012, the company secured the consent on its acquisition of 90% participating interest in OPL276 (another Production Sharing Contract) from Centrica Resources Nigeria Limited.

For more information about this company, please visit:https://www.newcrosspet.com/