NNPC and Chevron Discover New Oil Well with Substantial Crude Deposits in Niger Delta

The Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL) have jointly announced the discovery of a new oil well, Awodi 07, in the shallow offshore area of the western Niger Delta. The drilling, part of the ongoing joint venture efforts, has successfully unlocked substantial crude deposits across multiple reservoir zones.

Chevron holds a 40% interest in the joint venture, while NNPC owns the remaining share. The discovery is expected to increase oil production by 146,000 barrels per day, boosting government revenue and creating job opportunities.

NNPC's Group Chief Executive Officer, Bayo Ojulari, commended Chevron for its technical competence and operational excellence. The collaboration aims to advance the discovery towards development and monetization, enhancing Nigeria's energy security and delivering sustainable value.

NNPC's Executive Vice President, Upstream, Udi Ntia, described the Awodi 07 results as proof of the value of sustained collaboration and technical rigor, expressing eagerness to work closely with Chevron to progress the discovery.