News

Hidden Treasure Uncovered: NNPC-Chevron JV Strikes Huge Oil In Niger Delta

Published

2 months ago

Oct 19, 2024.

The NNPC Limited and Chevron Nigeria Limited Joint Venture (NNPC-CNL JV) has announced a major oil discovery following the successful drilling of the Meji NW-1 well in Petroleum Mining Lease (PML) 49, located in the shallow waters of the Western Niger Delta.

This region remains a key part of Nigeria’s energy production and now operates under the Petroleum Industry Act (PIA) 2021.

EDITOR’S PICKS

EKO HOT BLOG reports that Chevron’s General Manager of Policy, Government, and Public Affairs, Olusoga Oduselu, confirmed the discovery in a statement released on Friday.

He revealed that drilling operations began on September 2, 2024, and reached a total depth of 8,983 feet by September 13. The well encountered approximately 690 feet of hydrocarbon deposits in Miocene sands, extending the productive capacity of the Meji field.

Drilling was completed on October 2, 2024, and the rig has since left the site.

“This achievement reflects Chevron’s commitment to advancing its resource base in Nigeria,” the statement read. The discovery fits into Chevron’s global exploration strategy, which focuses on discovering new resources to extend the life of existing production assets and shorten development cycles.

NNPC Chevron Oil Niger Delta

This oil discovery is a positive development for Nigeria’s oil and gas sector, reinforcing the potential of the country’s offshore reserves.

The NNPC-CNL JV reaffirmed its commitment to working with the Nigerian government and other key stakeholders to further advance the nation’s oil and gas industry.

“We are dedicated to collaborating with the Nigerian government and stakeholders to foster the continued growth of the oil and gas industry and contribute to the Nigerian economy,” the statement added.