Chevron Nigeria Limited (CNL), a subsidiary of Chevron Corporation, has announced the discovery of a new oil field in the Western Niger Delta, capable of producing an estimated 17,000 barrels of oil per day (bpd). This significant find aims to bolster Nigeria’s declining oil output.
The “near-field discovery” was made by the Meji NW-1 spud in Petroleum Mining Lease (PML) 49, located in the shallow offshore region.
Chevron disclosed this development in a statement to S&P Global Commodity Insights on October 18.
“This accomplishment aligns with CNL’s strategy to continue developing and expanding its Nigerian resources, particularly in onshore and shallow water areas,” the company said.
The discovery also fits Chevron’s global exploration goals of extending the life of producing assets and achieving quicker production cycles.
This new field comes as a much-needed boost to Nigeria’s oil sector, which has faced challenges due to declining production, sabotage, theft, and aging infrastructure.
Chevron holds a 40% stake in Oil Mining License (OML) 49 through a joint venture with the Nigerian National Petroleum Corporation (NNPC).
Historically, the Meji field, discovered in 1965, peaked at 51,000 bpd in 2005 but has since seen a decline to around 17,000 bpd, predominantly crude oil.
Although Chevron did not specify a production timeline for the new Meji NW-1 field or details about its potential output, the discovery offers renewed hope for Nigeria’s oil industry.
It also contrasts with the trend of international oil companies exiting onshore and shallow water projects in Nigeria in favor of deepwater opportunities or more stable regions such as Namibia and Guyana.
Companies like Eni, Shell, and ExxonMobil have already sold or are in the process of selling their onshore and shallow water assets to local firms, marking a shift in Nigeria’s oil landscape.
The new Chevron discovery could help offset some of Nigeria’s production declines, generate jobs, and provide economic benefits to local communities.
