Oil giants strike black gold again

NNPC and Chevron have successfully completed an oil well in the Niger Delta, confirming significant hydrocarbons and aiming to boost daily production.

The Nigerian National Petroleum Company (NNPC) Limited announced on Monday that Chevron Nigeria Limited (CNL), operator of their joint venture (JV), has successfully completed the Awodi-07 appraisal and exploration well in the shallow offshore western Niger Delta. Drilling began in late November 2025 and concluded in mid-December, with all operations carried out safely and in compliance with regulatory standards, NNPC spokesperson Andy Odeh said. Comprehensive testing and data acquisition from the well confirmed a significant hydrocarbon presence across multiple reservoir zones, marking a key milestone for the JV. The NNPC/CNL partnership, in which Chevron holds 40% and NNPC 60%, aims to increase oil output to approximately 146,000 barrels per day, supporting government revenue, job creation, and the national energy supply. NNPC Group CEO Bayo Ojulari and EVP Udy Ntia highlighted the results as a testament to disciplined exploration, strong collaboration, and the positive impact of reforms under the Petroleum Industry Act, underscoring plans to advance the timely development and monetisation of the asset.

This development is more than a routine upstream success; it is a signal moment for Nigeria’s oil and gas sector. The successful drilling of the Awodi-07 appraisal and exploration well by the NNPC–Chevron joint venture underscores the cumulative payoff of sustained collaboration, technical discipline, and a more predictable operating environment. In an era where global capital for both frontier and brownfield exploration is tightening, outcomes like Awodi-07 are rarely accidental. They emerge where investors perceive regulatory clarity, fiscal credibility, and a degree of political will that reduces execution risk.