Nigeria has taken another step toward increasing its crude oil production following a major offshore oil discovery by Renaissance Africa Energy Company. The company announced that it found a significant amount of light crude oil during exploration activities at the JK-004 well located in Oil Mining Lease (OML) 74, a shallow-water block in the eastern Niger Delta.
According to the company, the exploration well encountered about 1,000 feet of hydrocarbon-bearing intervals spread across seven separate reservoirs. Early studies and tests confirmed that the reservoirs contain high-quality light crude oil, making the discovery an important development for Nigeria’s oil and gas industry.
The announcement was made during the NOG Energy Week Conference and Exhibition 2026. Speaking at the event, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, described the discovery as a major achievement for Nigeria’s upstream petroleum sector. He said the new find would help strengthen the country’s efforts to increase oil production and expand its hydrocarbon reserves.
Renaissance Africa Energy explained that the discovery supports its long-term goal of growing Nigeria’s oil reserves while improving energy security. The company also said it remains committed to working closely with government regulators and its joint venture partners to develop the newly discovered resources and bring them into production.
Managing Director Tony Attah described the discovery as a major success for the company’s exploration programme. He noted that the JK-004 well was drilled just over one year after Renaissance assumed operatorship of the assets. According to him, the achievement reflects the company’s strong technical capability and commitment to supporting Nigeria’s oil production targets.
Attah also praised the collaboration between Renaissance and its partners, including the Nigerian National Petroleum Company Limited (NNPCL), TotalEnergies, and Agip Energy and Natural Resources. He added that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) played an important role by providing the necessary support and regulatory guidance throughout the project.
The company’s Vice President of Exploration and Chief Explorer, Dr. Johnbosco Uche, said the discovery was made possible through careful planning, advanced technology, and disciplined exploration efforts. He explained that the location of the new well is close to existing production facilities, making it easier and faster to begin commercial production. This could reduce development costs and allow the oil to reach the market sooner.
The Chief Executive of the NUPRC, Oritsemeyiwa Eyesan, welcomed the discovery and said it aligns with the commission’s objective of increasing Nigeria’s hydrocarbon reserves. He assured investors that the commission would continue to provide a business-friendly environment that encourages more exploration and investment in the country’s oil and gas sector.
Similarly, the Executive Vice President of Upstream at NNPCL, Udobong Ntia, congratulated the Renaissance joint venture team for successfully completing the exploration project. He said the discovery would contribute to Nigeria’s reserve growth and reaffirmed NNPCL’s commitment to supporting future exploration activities.
OML 74 is one of Nigeria’s important shallow-water oil blocks located off the country’s coastline in the eastern Niger Delta. Renaissance Africa Energy, which recently acquired Shell’s former onshore and shallow-water assets, now operates Nigeria’s largest upstream joint venture. The company manages 18 oil leases, two export terminals, and a Floating Storage and Offloading (FSO) vessel, placing it in a strong position to support the country’s energy sector and future oil production growth.
