As operator of a joint venture with the Nigerian National Petroleum Company Limited, Chevron Nigeria Limited has completed appraisal and exploration activities in the Awodi-07 well positioned in the shallow offshore western Niger Delta
Amid a 40%-60% dynamic with NNPC retaining the larger share and Chevron enjoying Operator status, both the partners are well positioned to expand their asset portfolios by leveraging resources, expertise and investment in developing Nigeria’s oil and gas resources. Through this collaboration, the partners aim to increase oil production to about 146,000 barrels per day.
With promising results reinforcing the prospectivity of the Awodi-07 well, this comes as a win for the partners as it significantly adds to their collective objective of boosting Nigeria's production rates to 146,000 barrels per day. Several reservoir zones in the well were underlined with considerable hydrocarbon presence. This was confirmed following months of consistent exploration efforts led by sound technical evaluation.
Drilling had commenced late last year in compliance with approved operational and regulatory standards, followed by comprehensive testing, logging, and data acquisition, before the well was safely secured.
Calling it a milestone led by sustained collaboration and stable working environment, Udy Ntia, executive vice president - upstream, NNPC, said, “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.”
On the same tune, NNPC's group chief executive officer, Bashir Bayo Ojulari, said, “The success of the Awodi-07 well further reinforces the strength of the NNPC Ltd/CNL 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.”
NNPC, Chevron report high prospects offshore Nigeria
Awodi-07 drilling had commenced late last year.
