Chevron Nigeria Limited (CNL), a subsidiary of Chevron Corporation, has announced a new oil field discovery estimated to hold 17,000 barrels of oil per day (bpd).
This “near-field discovery” was made at the Meji NW-1 site in Petroleum Mining Lease 49, located in the Western Niger Delta’s shallow offshore area. The company emphasized its commitment to developing Nigeria’s resources and its global strategy to extend the life of existing assets.
The discovery comes at a crucial time for Nigeria’s oil sector, which has faced declining production due to sabotage, theft, and aging infrastructure. Chevron holds a 40 percent interest in Oil Mining License (OML) 49 in partnership with NNPC. Production from the Meji field peaked at 51,000 bpd in 2005 but has since fallen to about 17,000 barrels of oil equivalent per day (boepd).
Although Chevron did not specify a production timeline for Meji NW-1, the find is expected to boost Nigeria’s oil output, create jobs, and generate revenue for local communities.
Meanwhile, many of Chevron’s competitors are exiting the Niger Delta in favor of deep-water opportunities and other less risky markets, which has led to sluggish approvals and some official opposition regarding such transactions.
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