Chevron Nigeria Limited has reported the discovery of a new oil field located in the shallow waters of the South-South region of Nigeria. This new site is expected to produce around 17,000 barrels of crude oil each day, a significant development that could aid in reversing Nigeria’s declining oil production.
Jim Swartz, Chevron’s Chairman and Managing Director, announced the discovery in a statement issued on Friday by Olusoga Oduselu, the company’s General Manager for Policy, Government, and Public Affairs. Swartz indicated that the discovery was achieved through drilling at the Meji NW-1 well, which is situated in Petroleum Mining Lease (PML) 49.
The drilling for the Meji NW-1 well commenced on September 2, 2024, and reached a depth of 8,983 feet by September 13, 2024. After completing the drilling operations, the rig left the site on October 2. During this process, the well uncovered approximately 690 feet of hydrocarbon-rich Miocene sand formations, indicating the expansion of the existing Meji oilfield.
Oduselu noted that this successful discovery fits into Chevron’s larger goal of enhancing its resource portfolio in Nigeria, with a focus on onshore and shallow offshore projects. He pointed out that this discovery aligns with Chevron’s global strategy to identify new oil and gas resources that can prolong the life of existing production sites and facilitate quicker development of new fields.
“This discovery is part of Chevron’s commitment to finding new resources that can enhance the lifespan of current fields and allow for faster production timelines,” Oduselu stated. He added that the collaboration between the Nigerian National Petroleum Corporation (NNPC) and Chevron will continue to engage with the Nigerian government and other stakeholders to foster growth in the oil and gas sector, which will ultimately benefit the Nigerian economy.
The discovery of this new oil field comes at an important time as Nigeria looks to improve its oil production capabilities. Chevron’s find is expected to significantly contribute to revitalizing the nation’s energy sector and enhancing overall production levels.
