The Nigerian National Petroleum Corporation Limited (NNPC) and Chevron Nigeria Limited Joint Venture (NNPC-CNL JV) announced significant progress toward a major oil discovery at the Meji NW-1 well in Petroleum Mining Lease (PML) 49, offshore the Niger Delta.
The well, spudded on September 2, 2024, reached a depth of 8,983 feet by September 13, 2024, and encountered approximately 690 feet of hydrocarbons within Miocene sands, successfully appraising an extension of the Meji field.
In a statement, Olusoga Oduselu, General Manager of Policy, Government, and Public Affairs for Chevron, described the discovery as consistent with Chevron’s strategy to extend the life of existing assets with shorter development cycles. The rig completed operations and left the site on October 2, 2024.
This accomplishment comes amidst a reported 6.7% year-on-year decline in Nigeria’s oil exploration activities in September 2024, according to the Organisation of Petroleum Exporting Countries (OPEC).
Despite this, Nigeria remains committed to concluding its 2024 License Round, with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reaffirming its dedication to regulatory efficiency and attracting investment.
Peoplesmind
