Chevron Nigeria Limited has discovered an oil field at Meji NW-1, expected to produce 17,000 barrels per day.
This investment could boost local economies and Nigeria’s energy future amid declining production.
In a significant development for Nigeria’s oil industry, Chevron Nigeria Limited (CNL) has announced the discovery of a new oil field at Meji NW-1, estimated to produce 17,000 barrels per day.
This announcement, made on October 18, offers a much-needed boost to a sector grappling with declining output due to challenges like sabotage and ageing infrastructure.
Located in the shallow offshore area of the Western Niger Delta within Petroleum Mining Lease 49, this “near-field discovery” aligns with Chevron’s commitment to expanding its Nigerian resources.
Specifically, the company aims to identify new assets that can extend the lifespan of existing operations while enabling quicker production.
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Furthermore, the timing of this announcement is critical, as Nigeria’s oil production has been falling, with many major companies withdrawing from the Niger Delta in favour of deeper waters and more stable markets like Namibia and Guyana.
Notably, Chevron holds a 40 percent interest in Oil Mining License (OML) 49 in partnership with the Nigerian National Petroleum Corporation (NNPC).
While production from the Meji field peaked at 51,000 barrels per day in 2005, it has since declined.
As rivals like Eni and Shell exit the onshore market, Chevron’s investment in this new field stands out, potentially creating jobs and generating revenue for local communities.
However, the oil sector remains challenging, often facing bureaucratic delays and opposition.
Ultimately, the discovery at Meji NW-1 could be a turning point, offering hope for Nigeria’s economy and revitalising its oil production.
