NNPC, Chevron Uncovers Vast Oil Reserves In The Niger Delta

The Nigerian National Petroleum Company Limited (NNPC) and Chevron Nigeria Limited (CNL), operating through a joint venture (NNPC-CNL JV), have announced a major breakthrough following the successful drilling of the Meji NW-1 well. Meji which means “Two” in Itsekiri numerals is located within Petroleum Mining Lease (PML) 49 in the shallow offshore area of Warri South West Local Government Area of Delta State.

According to official reports, PML 49 is estimated to hold an impressive 17,000 barrels of oil per day (bpd), making this a highly lucrative discovery for both NNPC and Chevron. The well, which reached a total depth of 8,983 feet, was spudded on September 2 and completed operations by October 2, 2024. This latest discovery is the result of Chevron’s broader global exploration strategy aimed at expanding its Nigerian oil assets.

The drilling efforts encountered approximately 690 feet of hydrocarbons within Miocene sands, successfully extending the Meji oil field. Chevron’s General Manager of Policy Government and Public Affairs, Olusoga Oduselu, lauded the achievement, stating that it aligns with the company’s commitment to growing and developing Nigeria’s energy resources.

In addition to this development, NNPC and Chevron recently signed an agreement on October 9, converting five oil mining leases (OMLs) into four petroleum prospecting licenses (PPLs) and 26 PMLs. This move, in line with the Petroleum Industry Act (PIA) of 2021, highlights their long-term plans to continue tapping into both onshore and offshore energy reserves within Nigeria.