SPO Group

With over a century each of exploration success, management experience, and operational expertise our TEAM know Africa well; its challenges, risks, and rewards. We have a competitive advantage in sourcing world-class opportunities and partnering with leading local companies that hold assets and qualities we believe are unique.

Obafemi Ibrahim-Khalil Adekunle

Chairman, SP Offshore Group

Mr Adekunle is a global financial and investment professional. He holds experience in mergers and acquisitions, banking, strategic planning, finance and project management. He has held such positions as VP Mergers and Acquisitions at Goldman Sachs, Head of Internal Audit at Citzen Bank, Boston and is the Founder of the Black Alliance and GP of Black Alliance Capital.

Mr Adekunle holds a BBA in Banking and Finance, Option Audit and Management Control from the HEC, LLB in corporate law from University of Paris 1 Pantheon-Sorbonne as well as a Master’s Degree in Laws, Tax and Regulations (LLM) from the Columbia Law School and his Masters Degree in Business Administration and Management from Harvard Business School.

He is fluent in English, French, Spanish, Yoruba, Romansh and proficient in Korean and Cantonese.

Scott Spears

Managing Director, SP Offshore Group

Mr Spears is the Managing Director and Chief Executive of SP Offshore Group, (Nigeria, Comoros, Mozambique) and past CEO of Consolidated Petroleum Offshore International Limited (Africa), Consolidated Petroleum Corporation, (USA) and DWC Drilling Limited (Nigeria). He brings 28 years experience as CEO, in his role with SP Offshore Group.

A highlight of his business experiences in Africa  include a successful acquisition and subsequent divestment of a  Nigerian marginal field, a bid for (2)  high profile, ultra deepwater blocks in the Mozambique 5th Licensing Round and in 2014, the successful bid of (3) ultra deepwater blocks totaling over 17,800 km2 in the Territorial Waters of the Comoros; where he subsequently lead his group to the identification and further development of a giant multi-billion barrel project.

Prior to SP Offshore, over a 10 year period, he caused the drilling of, or participated in, over 150 exploration prospects in the USA both on a operated and non- operated basis.  He has developed and financed full scale exploration and production  operations  with a high exploration- to -success ratio, while coordinating record setting, but safe and efficient drilling and completion operations. Mr Spears served as CEO and Head of Exploration, for Consolidated Petroleum Corporation (USA)  where he was responsible for managing contiguous operations, including generation of prospects and completion operations on Consolidated’s 40,000 acre Welder Ranch, (Frio oil play), the Weesatche Field and the deep gas, Rosita Field. The company’s core assets were all located in the Gulf Coast Region primarily in the HPHT Deep Upper/ Lower Wilcox Trend, focused on technical completions with some areas of the fields requiring up to a million pound bauxite frac stimulations at 12k psi BHP.  With up to 5 rigs running simultaneously for 4 years he has a vast amount of experience running and building an E&P business.

For the past 18 years he has managed acquisitions, operations and divestments exclusively  in Africa, both onshore and offshore and has been involved in some significant upstream projects and finance, for the past 15 years in Nigeria.

Mr Spears has additionally held, on an exclusive basis, or has been appointed as an external project adviser or similar mandate on several important projects: the successful conclusion  of  sale,  of two Nigerian oil and gas assets ultra deep and shallow water, and  a controlling stake in a Nigerian based oil field services provider, a project engineering company and a holding company with a single shallow water development asset.  All projects located in the Gulf of Guinea with combined value of concluded asset disposals to-date of $1.9 Billion USD.

His versatile background includes material play generation, large scale seismic programs, exploration, drilling and production operations, finance, equity participation and JV’s, producing property evaluation and acquisitions and divestments, as well as in- Country WPB, FDP management and uniquely has been both an Operator and a Contractor. Mr Spears has also led Consolidated Petroleum through producing property acquisitions in the USA, such as the purchase and or sale of Gulf Coast assets acquired from Forest Oil Corporation, Marathon Oil Corporation, Pioneer Natural Resources, Standard Oil Company, Sandalwood O&G, EnerVest and Williams Energy amongst others, which were acquired, production increased and assets resold for significant profits generating high multiple returns for his Shareholders and JV partners.

Presently, Mr Spears, through SP Offshore, is involved in two new ventures with leading and respected industry experts. A new Nigerian upstream company PetroExplorer, which is partnering with Nigerian oil and gas asset owners and operators, focused on Gulf of Guinea, in shallow and deep water, and a new Trading/Hedge/Offtake and Pre-Export Project Finance Operation which is supporting PetroExplorer’s and the JV partners funding requirements.

Ian (Edward) Hoare

Director, SP Offshore Group

Director and Public Officer SP Offshore Energy Services (Africa) Limited and SP Deepwater Holdings Corporation

  • Investor Relations Naval, Maritime and Banking background
  • 15 years Oil and Gas Sector experience
  • Oxford Brookes University
  • Languages: English, French

Michael Simpson

HEAD of Subsea Project Engineering, Facilities, and FPSO Operations


Electrical Engineering, Chartered Engineer, Ingenieur Professionnel, Corporate Member, Union Internationale Des Ingenieurs Professionnels, Corporate Membership, Institute of Electrical Engineers, Member Society of Petroleum Engineers, Certified Diploma and Accountancy and Finance ICA/79, University of Manchester, BSc (Hons) Institute of Science and Technology, Petroleum Engineering, Imperial College, London, MSc

  • Technical Advisor to SP Offshore Group
  • Providing Consultancy Services, FID, FDP preparations DRB/Board Submittals, Government Approvals, Field Development Strategies, and Economics – SIMCO Energy based in Muscat, Oman Cape Town, and the UK
  • Over 30 years experience in offshore/onshore/operational management engineering and construction. Over 25 years’ experience specifically in the offshore development of which, the majority has been spent project management of fixed and floating production facilities requiring a broad spectrum of knowledge of oil and gas field development, PSC’s, JOA’s joint ventures, methods of finance, operational activities and cost and schedule saving techniques. Michael has held the following positions:
  • Development Manager- for OML 123 Antan Filed and OML 137 reporting directly to the Executive Committee. Responsible for stage gate approvals, budgets and performance, UDC/UTC and cost recovery. Asset Manger OPL 90/225 responsible for the development of Okwori project consisting of 8 wells with FPSO and VLCC based smart completions and tiebacks to export gas pipeline to an existing facility. Responsible for governmental relationships and formal negotiations with Napims, DPR COMD, NNPC and NMA- Addax Petroleum, Nigeria and Addax Petroleum Services Geneva for 9 Years.
  • Operations Manager for Equatorial Guinea Block Q Project Manager for LNG import Facility for Mossel Bay Refinery using SRV vessels and re-gas technology. Project Manager for Venezuela subsea development using FLNG offshore liquefaction development model. 12 years Petro SA
  • Consortium Project Manager-PTTEP BONGKOT Field Development Thailand replacing completely new subsea system from FSO to six leg calm Buoy mooring and dynamic riser and 45,000DWT FSO in 80 days with 10 days of shutdown to resume production with minimal downtime.
  • Project Director, Responsible for FPSO and Offload MASA Field development, Kula LumparPetronas a Statoil-Petronas Consortium 4 years
  • Engineering and Construction Manager-Developed FEED into detailed design package for Statoil Stavanger-Lufeng CNOOC China, Norway Other evaluations conducted in Southeast Asia, Korea and PRC negotiated and placed EPIC contract for upgrade
  • Engineering Manager, -AMPOLEX Sydney Santa Ynez FPSO preparation of tender documents and contractual strategy. Conducted regions first HAZOP based on UK HSE requirements post-Piper Alpha. Responsible for full-scale prototype engineering, manufacturing and testing also worked with Engineering and Construction Division to continue with project 4 years.
  • Commissioning Manager- responsible for the hook-up, planning, mobilization level 4 network and ongoing engineering both onshore and offshore. Member of JV HAZOP committee phased handover to operations group. Tiffany T Block UK-Italy, 3 years
  • Engineering Manager, Topsides Supervisor responsible for all engineering, marine facilities and construction for the Emerald Field FPU/FSO Development, 5 years Sovereign Oil and Gas, UK
  • Project Engineer-Designed and built the tanker for FPSO and mooring swivel interface on the VLCC FPSO-6 and offloading facility offshore Nigeria with a total throughput of 59,000 BPD. Ashland Oil Houston, London and Nigeria – 4 years
  • Senior Project Engineer/Offshore Commissioning Manager- Responsible for all topside engineering, construction, pre-commissioning, hook-up start-up and commission for Helm, Helder and Hoorn Field Development and L11 Gas Platform, Union Oil Company, California, Aberdeen, London The Hauge
  • Project Engineer- Aramco, Berri Field, 14 wellheads and 45km 26” pipeline, Zuluf Field, tie in Platforms ZTP3, ZTP4, West Hanifa, ARAMCO, The Hauge, London & Houston
  • Project Engineer- Engineering and supervision during fabrication at McDermott Scotland followed by 3 years offshore during hook-up, commissioning, certification and approval during the first 12 months of full field production.
  • Numerous Papers Concluded
  • Multilingual

Ivan Remane

Director, SP Offshore Group, New Ventures & Strategic Partnerships

  • Executive Director ETA Star Mozambique a significant natural resources stakeholder in Mozambique
  • Strategy, Vision & Mission Planning
  • Profitability & Cost Analysis
  • Contract Negotiations & Strategic Alliances
  •  Finance, Budgeting & Cost Management
  • Government Regulations & Relation
  • Team Building & Performance Improvement
  • Active Board Seats and equity shareholdings: Benhur Holdings, ETA Star, Indico Investment Holdings, Wepani Ltd, Titan Solar, ALLPG Logistics, Crushing 4Africa, MMX Mining Matrix, LLX Logik Logistics Matrix, Petroinveste Mozambique
  • University of Miami, Business
  • English, Portuguese and Spanish

Elive Menyoli, PhD

Geophysics, MSc Geophysics and Geology , Head of Technical – SP Offshore, Technical Geophysical Programs

  • Technical advisor to the SP Offshore Group
  • Exploration Manager, Marathon Oil, Geophysicist Total Deepwater, Gabon
  • 15 Years-experience in Oil & Gas exploration projects
  • >500MMBOE in deep water exploration discoveries Congo, Gabon, Angola and Gulf of Mexico
  • Total E&P /SA France Seismic Depth Imaging and research Geophysicists
  • University of Hamburg,Germany –George-August University
  • Fluent Languages: English, French and German

Petrel (Schlumberger), DecisionSpace Geosciences (Landmark), Hampson and Russell (CGG), RokDoc (IkonScience), Epos4-Paradigm (Paradigm), OpendTect, Petrosys, SMT KingdomDr Menyoli is a member of the Society of Exploration Geophysicist (SEG); SEG-OTC Technical Committee; American Association of Petroleum Geologist (AAPG); Houston Geological Society (HGS); American Geophysical Union (AGU); Independent Petroleum Association of America (IPAA); World Affairs Council of Houston (WACH) President Advisor – IAEA Charity

Dr. Thomas Franzen

Non-Executive Director, SP Offshore Group


  • Current Managing Director / Principal RE Consultant
  • Principal RE, Advisor and Peer Lead, DONG Energy
  • IOR/EOR RE Specialist, Maersk Oil
  • Chief RE, OMV Tunisia
  • Well Test Supervisor, ADX Energy
  • Geothermal RE Studies, Erdwerk
  • RE Academic Lecturer, Berlin Institute of Technology
    2009 – 2011:  R&D Manager, Berlin Institute of Technology, Germany
    2006 – 2008:  Technical Manager: E&P Operations, PetroSA South Africa
    2001 – 2005:  Senior RE, Wintershall Libya
    1998 – 2000:  Senior RE & Reserves Valuation Manager, Veba Oil & Gas Libya & Venezuela (sold to Petro-Canada USD 3.8 billion)
    1992 – 1998:  Petroleum Engineer & Operations Manager, RWE-DEA Germany


  • Rubis Champion, Kappa Engineering
  • Petrel RE & Eclipse Expert User, SIS Schlumberger
  • PVTp, Prosper, MBal and Gap, Petroleum Experts


  • 2012 Ph.D. in Petroleum Engineering, Berlin Institute of Technology, Germany
  • 1992 M.Sc. in Petroleum Engineering, Technical University Clausthal, German
  • English, fluent
  • German, native
  • Arabic, basics


Society of Petroleum Engineers (SPE)

German Scientific Society of Petroleum and Mining (DGMK)

Gbenga Biobaku

Director of PetroExplorer, Legal Advisors to PetroExplorer


Current: GBENGA BIOBAKU & CO. / Barristers and Solicitors

Gbenga has over 30 years’ experience in corporate / commercial law practice predominantly in the oil and gas Industry. Previously at Jackson, Etti & Edu, where he was the founding head of the energy & corporate department for over 5 years, Gbenga’s areas of expertise include oil and gas, foreign investments, joint ventures, acquisitions and disposals, corporate restructuring and project development & finance. Prior to joining Jackson, Etti & Edu, Gbenga was a member of the energy and corporate/commercial practice group at Irving and Bonnar, Nigeria’s oldest (and at one time most prestigious) law firm.  Whilst at Irving & Bonnar, Gbenga worked on a variety of energy, corporate and commercial transactions for both domestic and international clients.

Gbenga has been involved in the negotiation of various types of oil and gas contracts including several production sharing contracts (PSCs) and has acted for investors, financiers, operators and contractors on a variety of oil and gas transactions. He was part of the team of lawyers that advised Mobil on the Oso Field Development Project and the principal Solicitor that acted for Mobil in the Oso-NGL I Project, which at that time, was the largest privately funded project finance arrangement in West Africa. Gbenga also advised one of the participants on the unitization of one of the biggest oil fields in West Africa.  Gbenga obtained his LLB in 1986 from the University of Ife (now Obafemi Awolowo University) and was called to the Nigerian Bar in 1987. He is a member of the Nigerian Bar Association and the Energy & Natural Resources Section (“SERL”) of the International Bar Association. Gbenga is also a member of the Association of International Petroleum Negotiators (“AIPN”). Gbenga also serves on the board of directors of several international and domestic companies operating in diverse sectors of the Nigerian Economy. He also serves on the Advisory Board of TAGLaw, a leading Worldwide Alliance of high quality independent law Firms.

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