Chevron Announces Discovery of New Oil Field in Nigeria

Chevron Nigeria Limited (CNL) has announced the discovery of a new oil field in the shallow offshore area of the Niger Delta, estimated to hold 17,000 barrels of oil per day (bpd).

This “near-field discovery” was made during the drilling of the Meji NW-1 well in Petroleum Mining Lease 49.

Jim Swartz, Chairman and Managing Director of Chevron, confirmed the discovery in a statement released by Olusoga Oduselu, General Manager of Policy, Government, and Public Affairs. Oduselu noted that drilling began on September 2, 2024, reaching a total depth of 8,983 feet by September 13.

He stated that the well encountered approximately 690 feet of hydrocarbons within Miocene sands, extending the productive Meji field.

The drilling operations were completed by October 2, and the rig has since departed the site.

Odusolu added, “This supports Chevron’s broader global exploration strategy to find new resources that extend the life of producing assets in existing operating areas and deliver production with shorter development cycle times.”

The discovery comes at a critical time for Nigeria, as the country faces challenges in its oil sector, including declining production due to sabotage, theft, and aging infrastructure.

READ ALSO: Chevron Recruits Communications Representative

The new field is expected to help offset these declines and boost oil production, potentially creating jobs and generating revenue for local communities.

Chevron holds a 40 percent interest in Oil Mining License (OML) 49 in a joint venture with the NNPC. While the company did not provide a timeline for production at Meji NW-1, the find represents a positive development for Nigeria’s economy, particularly as many oil companies are exiting the Niger Delta in favor of deeper, less risky opportunities.