Tuesday, October 13, 2026
  • Login
No Result
View All Result
The Business Times
  • News
  • BT Exclusive
  • Economy
  • Business
  • Financial Markets
  • Politics
  • Energy
  • Insights
  • Sports
  • News
  • BT Exclusive
  • Economy
  • Business
  • Financial Markets
  • Politics
  • Energy
  • Insights
  • Sports
No Result
View All Result
The Business Times
No Result
View All Result
Home Energy

NNPC and Chevron Confirm Successful Awodi-07 Appraisal Well in Niger Delta

byAyotunde Abiodun
January 27, 2026
in Energy, Industry News
0
NNPC’s Profit Oil Earnings Fall Short of Target Amid Questions Over Federation Remittances
23
VIEWS
Share on FacebookShare on Twitter

The Nigerian National Petroleum Company (NNPC) Limited announced on Monday that Chevron Nigeria Limited (CNL), operator of their joint venture, has successfully completed drilling the Awodi-07 appraisal and exploration well in the shallow offshore western Niger Delta.

According to NNPC spokesperson Andy Odeh, drilling operations commenced in late November 2025 and concluded safely by mid-December, with all activities conducted in strict compliance with Nigerian regulatory standards. Odeh emphasised that safety and operational discipline were maintained throughout the project.

Preliminary results from comprehensive testing and data acquisition indicate the presence of significant hydrocarbons across multiple reservoir zones, a development that NNPC described as a “key milestone” for the joint venture. The Awodi-07 findings are expected to contribute substantially to the JV’s objective of increasing oil production to approximately 146,000 barrels per day, supporting government revenue, job creation, and national energy supply.

NNPC Group Chief Executive Officer Bayo Ojulari and Executive Vice President Udy Ntia hailed the results as evidence of the benefits of disciplined exploration and effective collaboration between NNPC and Chevron. They also credited the Petroleum Industry Act (PIA) reforms for creating an enabling environment that encourages the timely development and monetisation of hydrocarbon assets.

“This achievement demonstrates what can be accomplished when exploration is carried out with precision, underpinned by strong partnerships and a clear regulatory framework,” Ojulari said. “It also reinforces the strategic importance of the Awodi block in meeting Nigeria’s energy needs and supporting economic growth.”

The NNPC/CNL joint venture, structured with NNPC holding a 60% interest and Chevron 40%, represents a significant component of Nigeria’s broader efforts to maximise oil output from the Niger Delta. Analysts note that successful appraisal wells like Awodi-07 not only enhance national energy security but also signal the potential for further investments in exploration and production.

The Awodi-07 success comes at a time when Nigeria is seeking to strengthen its upstream oil sector amid global energy market volatility. By accelerating the development of promising fields, the NNPC/CNL partnership aims to increase crude production and meet domestic and international demand, while creating jobs and generating additional revenue for the government.

Ntia highlighted the project’s operational efficiency and the use of modern exploration techniques, noting that “the results reflect both technological capability and strategic alignment between NNPC and Chevron in advancing Nigeria’s energy agenda.”

With the appraisal phase now complete, the joint venture plans to move quickly into development and production planning, leveraging the data gathered from Awodi-07 to optimise extraction and commercialise the field in a timely manner.

The announcement underscores the continued importance of partnerships between international oil companies and NNPC in realising Nigeria’s oil and gas potential. Observers say that the Awodi-07 results also demonstrate the value of the Petroleum Industry Act reforms in promoting transparency, efficiency, and investor confidence in the sector.

As Nigeria continues to navigate energy transition pressures and global market dynamics, successes such as Awodi-07 signal optimism for upstream growth, reinforcing the country’s position as a leading oil producer in Africa.

Tags: Bayo OjulariChevron Nigeria LimitedNNPCUdy Ntia
Ayotunde Abiodun

Ayotunde Abiodun

Next Post
Ghana Signals Further Rate Cuts as Cooling Inflation Opens Space for Easing

Bank of Ghana to Review Domestic Gold Purchase Programme Amid Focus on Macro Stability

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Airbus Helicopters Secures Nigeria’s First H135 Air Ambulance Order

Airbus Helicopters Secures Nigeria’s First H135 Air Ambulance Order

3 months ago
From Reform to Prosperity, Can Business Costs Fall?

From Reform to Prosperity, Can Business Costs Fall?

2 weeks ago

Popular News

  • Dangote Refinery Cuts Petrol Price Again, Lowers Ex-Depot Rate to N1,075/Litre

    Dangote Refinery Extends ₦2.15tn IPO Deadline to October 27

    0 shares
    Share 0 Tweet 0
  • Indonesia Offers Nigerian Investors Tax Breaks, Visa Perks

    0 shares
    Share 0 Tweet 0
  • Owerri Airport to Close for 25 Days From October 20 for Runway Repair

    0 shares
    Share 0 Tweet 0
  • Okonjo Iweala Urges Countries to Diversify Global Production

    0 shares
    Share 0 Tweet 0
  • Peter Obi Questions World Bank’s Positive Nigeria Growth Forecast

    0 shares
    Share 0 Tweet 0

Connect with us

Facebook Twitter Instagram TikTok

Newsletter

Pages

  • About Page
  • Contact
  • Domestic Gas Sales Rise 30% as Nigeria’s Energy Reforms Gain Traction
  • Privacy Policy
  • Terms & Conditions

Navigation

  • News
  • BT Exclusive
  • Economy
  • Business
  • Financial Markets
  • Politics
  • Energy
  • Insights
  • Sports

© 2025 The Business Times NG .

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
  • BT Exclusive
  • Economy
  • Business
  • Financial Markets
  • Politics
  • Energy
  • Insights
  • Sports

© 2025 The Business Times NG .