NNPC Announces New Oil Well Discovery, Shares Excitement
- The NNPC has announced a fresh new oil well discovery after a successful drilling exercise in the western Niger Delta
- The new oil well exploration was carried out by Chevron, and there is excitement that it will boost government revenue
- National oil company said the discovery supports its strategy to increase crude output, and strengthen energy security
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The Nigerian National Petroleum Company Limited (NNPC Ltd) has confirmed the discovery of a new oil well in the Niger Delta, describing the development as a big boost for Nigeria’s energy sector and revenue prospects.
The company said the discovery followed the successful completion of the Awodi-07 appraisal and exploration well in the shallow offshore western Niger Delta by Chevron Nigeria Limited, which operates the asset under the NNPC Ltd/Chevron Nigeria Limited Joint Venture.
Source: Getty Images
New oil well boost for Nigeria's revenue
The Awodi-07 well was drilled as part of efforts by the Joint Venture to further delineate and unlock hydrocarbon potential within its asset portfolio.
Drilling operations commenced in late November 2025 and were completed in mid-December 2025.
According to NNPC Ltd, all drilling activities were carried out safely and efficiently, in strict compliance with approved operational and regulatory standards
Following extensive testing, logging, and data acquisition, the well was safely secured, bringing the drilling programme to a close.
Details of the discovery were contained in a press release signed by the Chief Corporate Communications Officer of NNPC Ltd, Andy Odeh, and dated January 26, 2026.
NNPC said results from the Awodi-07 well confirmed a significant presence of hydrocarbons across multiple reservoir zones, the company said.
The national oil company described the outcome as a major milestone for the Joint Venture, noting that it strengthens confidence in the asset and reinforces the prospectivity of the area.
It added that the result highlights the effectiveness of disciplined exploration, sound technical evaluation, and strong operational collaboration between both partners.
NNPC hails new oil well discovery
Speaking on the development, the Group Chief Executive Officer of NNPC Ltd, Bashir Ojulari, commended Chevron Nigeria Limited for its performance.
Ojulari said:
“The success of the Awodi-07 well further reinforces the strength of the NNPC Ltd/Chevron Nigeria Limited Joint Venture and our shared commitment to responsibly growing Nigeria’s hydrocarbon reserves
“This achievement aligns squarely with our strategic priorities of increasing production, enhancing national energy security, and delivering sustainable value for the Nigerian people."
Also commenting, the Executive Vice President, Upstream, NNPC Ltd, Udy Ntia, said the results demonstrate the benefits of sustained collaboration and sector reforms.
He stated:
“This discovery underscores the importance of disciplined exploration programmes, strong partnerships, and the positive impact of the reforms introduced under the Petroleum Industry Act."
“We look forward to working closely with Chevron Nigeria Limited to mature this opportunity and progress it towards timely development and monetisation."
Source: Twitter
Big boost for oil revenue
According to the release, NNPC Ltd and Chevron Nigeria Limited operate under a joint venture agreement covering several oil and gas fields in Nigeria’s Niger Delta.
Punch reports that under the arrangement, Chevron holds a 40 per cent interest, while NNPC Ltd owns the remaining 60%.
The partnership is structured to combine resources, expertise, and investment to develop Nigeria’s oil and gas resources.
Through the Joint Venture, the partners aim to increase oil production to about 146,000 barrels per day.
FG opens portal for oil blocks licence
In a related development, Legit.ng reported that the federal government reduced the signature bonus for the 2025 oil licensing round from the previously approved $10 million to a new range of $3 million to $7 million.
The move is targeted at lowering entry barriers and attracting fresh investment into Nigeria’s upstream sector.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) confirmed the new pricing in an update published on its website.
Proofreading by James Ojo, copy editor at Legit.ng.
Source: Legit.ng
