FINBERG LIMITED Group (FINBERG) is an indigenous Nigerian company incorporated under the laws of Republic of Nigeria in 2012, whose purpose is to represent primarily the interests of one of the largest Russian companies in the field of energy, oil and gas and other infrastructural projects. (FINBERG) also took over the foreign shareholding part of DAMAGIX Oil and Gas Nigeria Limited (DAMAGIX) where FINBERG now hold 34% and in a farming agreement fully control DAMAGIX. FINBERG Limited is 100% Nigerian entity fully owned by foreigners which manage the company. We also work through our subsidiaries NEW BUCCANEER LIMITED, Seychelles (Commodities Trading), TRISTAR Oilfield Services Nigeria Limited (Engineering, Procurement and Construction) AVALON Limited, Bulgaria (Financing, Engineering) and J&K Services Nigeria Limited (Civil and Real Estates Construction).
The nature of FINBERG business is very much diversified. Using the long term relations with the Nigerian industry (more than 30 years) and the huge background at Russia, FINBERG act as a bridge, a lobbyist, a SPV, promoting and assisting the business relations between these two countries. Within the years, the business activity of FINBERG spread over some other African countries, mainly Sub-Sahara countries like Ghana, Morocco, Cameroon, Equatorial Guinea, Niger, Chad, Kenya, Uganda, and Tanzania.
The main projects FINBERG took part and actively working during these years are:
- Supply of 25,000 tons of Large Diameter Still pipes for the TOTAL Nigeria, OML 58 pipeline project through DAMAGIX. (140 Million USD, 2009) .
- Supply of 17,000 tons of Large Diameter Steel pipes for the TOTAL Nigeria, NOPL pipeline project. (45 Million USD, 2012)
- The Adjaoukuta-Kaduna-Kano, 615 km, Large Diameter still pipes line tender, (2.8 Billion USD, 2013 till now). Awarded to some other company for political reasons.
- Early Gas Large Diameter Steel pipelines (1.7B USD, 2016), not yet awarded)
- 2 Million tons Fertilizer plant Eurochem, Russia, Project (1.9B USD Project, 2017. closed by Eurochem).
- Uganda-Tanzania East Africa Crude Oil Pipeline (1,440 km, 3.5B USD estimation cost, 2018 and still to go)
- Nigerian Ministry of Transport, The Coastal Railway Line (1,415 km, estimation 12 Billions USD, 2018). MoU Ministry of Transportation of Nigeria Russian Railway Corporation, Russia was signed on October 2019 during the Forum Russia-Africa.
- Nigeria – Morocco Large Diameter Gas Pipeline (about 5,000 km, 2016, still on pre-FEED stage)
-Financing, Engineering, Procurement, Construction, Commissioning and O&M of 430km, Nigeria ALPHA 1 Gas Pipeline
FINBERG also provide financial support to all of these projects through good relations with mainly Russian and some other Financial Institutions.


- Be your partner or execute for you any kind of EPC contract through our wide range of partners in any industrial activities in Russia and other countries
- Arranger and secure for you financing of your project (s) on terms and conditions to be additionally agreed
- Undertake O&M at any kind of activities through our technical partners
- Ensure for you the supply chain for your needs


Mr. Nikita Maximov
Chairman of the Board of Directors

Russian citizen, M.Sc.. Metallurgical Engineer. Prior to 1990, involved the coordination and financing activities in the steel industry of the former USSR. He participated in a number of large investment projects in the steel and petroleum industries. These include the establishments of the steel and petrochemical Industry, Gazprombank and others. He is currently the President of the gas company "Yuzhgazenerdzhi" in Russia. a subsidiary of JKX Oil & Gas Plc, UK. Member of the Board of Directors of Damagix Oil and Gas Nigeria Ltd. and J and K services Limited.

Mr. Iliya Todorov
Managing Director

Bulgarian Citizen, M.Sc., MBA. Over 40 years experience (30 years at Nigeria) in foreign trade operations, import-export, project management and execution of oil and gas downstream projects. Financial background with leading international banks, funding consultant for oil and gas downstream projects. Strong connections with major multinational Russian companies. Managing Director of Damagix Oil and Gas Nigeria Limited and J and K Services Limited as well.

Alhaji Dr. Bashir Adaba

Nigerian Citizen, a seasoned oil field engineer with over 38 years working experience in the oil and gas industry. Work with OTIS Engineering Corporation as a drilling and completion Specialist, Supervising Drilling and completion operation, with I.O.C. in Nigeria, North Sea, Gabon and East Texas. Providing senior engineering consultants to SPDC, MOBIL, CHEVERON, AGIP etc.
Responsible for total local and logistic support, procurement of all the documentation and licenses, liaising with all Federal, state, local government and community agencies. Chairman/CEO of Tristar Oil and Gas Nigeria Limited. A Fellow Institute of Independent Marketing of Nigeria (FIIMN) A Fellow Institute of Corporate Administration of Nigeria (FICAN) A Fellow Academy of Corporate Management and Strategic Planning (ACMSP)

Bozhidar Danchev

Bulgarian Citizen, M.Sc., MBA Over 45 years of experience in foreign trade. Balkancarimpex, Bulgarian Ministry of foreign trade, Sales representative in Australia, Ministry of regional development and Public works, Curtis investments. Owner and Manager of AVALON Ltd.. Experience in foreign trade projects.


– United Mettalurgical Company, Russia

– Interpipe, S.A, Ukraine

– SIMAS, Italy

– Russian Railway Corporation, Russia

– Inter RAO, Russia 

– InterTechElectro, Russia

– PCK, China

– VTB Capital, UK

– GasPromBank, Russia,

– Federal Mortgage Bank of Nigeria


– NNPC, Nigeria

– Ministry of Transportation of Nigeria,

– Ministry of Water Resources of Nigeria,

– Ministry of Finance of Nigeria

– Uganda Ministry of Petroleum

– TPDC, Tanzania

– TOTAL Nigeria

– SPDC, Nigeria

– NAOC, Nigeria


March, 2018, Meeting with the Board of Directors of Federal Mortgage Bank of Nigeria (FMBN)
May, 2018, Meeting with H.E. Rotimi Amaechi, Minister of Transportation of Nigeria
July, 2019, Moscow, Russia, the Meeting Russian Railway Corporation (RZD) - Ministry of Transportation of Nigeria
October, 2019, Sochi, Russia, The Forum RUSSIA - AFRICA
October 2019, Sochi, Russia, signature of the MoU Russian Railway Corporation (RZD) and the Ministry of Transportation of Nigeria
October 2019, Sochi, Russia, Meeting VTB Capital – Ministry of Transportation of Nigeria
October 2019, Sochi, Russia, Meeting with H.E. the President of Uganda (Uganda-Tanzania Pipeline (EACOP)
November 2019, Meeting with the NNPC ED
NMPG Meeting, Morocco (Nigeria-Morocco Pipeline)
November 2019, Meeting with the Minister of Finances of NIGERIA
September 2021 with the State Minister of Petroleum of Nigeria, Mr. Sylva