Chevron discovers new oil in Niger Delta – 17,000 BPD

Chevron Nigeria has announced a new oil discovery in the Niger Delta, with a production potential of up to 17,000 barrels per day.

The find was made in the Meji NW-1 well within Petroleum Mining Lease 49, a shallow offshore block operated in partnership with the Nigerian National Petroleum Company (NNPC).

Drilled to a depth of 8,983 feet, the well uncovered 690 feet of hydrocarbons within Miocene sands, expanding the existing Meji field. Chevron noted that the discovery aligns with its strategy to extend the lifespan of producing assets and accelerate development timelines.

The discovery is seen as a boost to Nigeria’s struggling oil production, which has been declining in recent years due to multinational companies exiting onshore operations. Chevron’s discovery is expected to contribute towards President Tinubu’s goal of increasing Nigeria’s crude production to 4 million barrels per day by 2030.

Chevron holds a 40% stake in the block, with NNPC controlling the remaining 60%. The block, formerly known as OML 90, was reclassified under the Petroleum Industry Act of 2021.