A joint venture operated by U.S. supermajor Chevron has made an oil and gas discovery offshore Nigeria as international majors bolster exploration amid the top African producer’s efforts to boost hydrocarbon output and offer more favorable terms for investments.
The Nigerian National Petroleum Company Limited (NNPC Ltd) on Monday commended Chevron Nigeria Limited (CNL), operator of the NNPC Ltd/CNL joint venture, on the successful completion of the Awodi-07 appraisal and exploration well located in the shallow offshore western Niger Delta.
The well was drilled in late 2025 as part of the joint venture’s ongoing efforts to further delineate and unlock hydrocarbon potential within its asset portfolio.
“Results from the well are highly encouraging, confirming a significant presence of hydrocarbons across multiple reservoir zones,” NNPC said in a statement.
The successful exploration campaign is a major milestone for NNPC Ltd/CNL as it boosts the joint venture’s confidence the area has hydrocarbon potential, the Nigerian state oil firm added.
NNPC Limited and Chevron Nigeria Ltd work together under a joint venture agreement to operate several oil and gas fields in Nigeria’s Niger Delta. In this partnership, Chevron owns 40% and is the operator, while NNPC holds the remaining share.
This is the venture’s third discovery since 2024.
The recent exploration successes “complement Chevron’s global exploration strategy to balance infrastructure enabled and frontier activity,” Kevin McLachlan, Chevron’s Vice President of Exploration, said in a separate statement carried by Bloomberg.
Nigeria’s efforts to revitalize its oil industry with reforms and boost oil and gas production have started to pay off.
Last week, Nigerian President Bola Ahmed Tinubu approved the adoption of targeted, investment-linked incentives to support the proposed Bonga South West deepwater offshore oil project by Shell and its partners, the office of the president said after Tinubu met with the supermajor’s chief executive, Wael Sawan.
Shell plans to invest $20 billion in the Bonga South West deepwater project, said Olu Arowolo Verheijen, the special energy adviser of the Nigerian president.
By Charles Kennedy for Oilprice.com
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