Blackwood’s oil and gas practice spans upstream concessions and downstream processing. Past initiatives have included memoranda for majority interests in Nigerian offshore and shallow‑water blocks and a Gas‑to‑Liquids facility concept, with a focus on credible technical partners and bankable capital structures.

The Blackwood Group's Wasee Panah signed a Memorandum of Understanding with Oilworld to acquire 60% majority stake in OPL 241 Oil concession. OPL 241 is located in the shallow waters of the Niger Delta Basin, Nigeria. The total concession area is 1,182 sqkm. Estimated Oil & Gas Reserves are in the range of 1,8 billion barrels plus probable reserve in excess of 400 million barrels.  

The Blackwood Group's Wasee Panah signed a Memorandum Of Understanding with Northsouth Petroleum to acquire 60% majority interest in the Oil concession OPL 326 located in the Western Deep offshore Niger-Delta, Nigeria. Oil & Gas Reserves are currently under evaluation. OPL 326 is located in the southern limit of Petrobras OPL 324 and south-west of Chevron OPL 249. 

The Project is comprised of the engineering, procurement, construction and operation of a Gas to Liquid plant with an initial daily capacity of 10,000 barrels of liquid petroleum products expandable up to 56,000 bpsd (while taking in a total up to 448,000 standard cubic feet of Natural Gas, whether Associated or non Associated). Total investment is valued at USD 2bln. A strategic contract was signed with the Governor of Akwa Ibom State  in presence of Blackwood's management represented by Wasee Panah.