NNPCL/Chevron JV Targets 146,000 bpd Oil Production after Awodi-07 Discovery

The Nigerian National Petroleum Company Limited (NNPCL) has said its collaboration with Chevron Nigeria Limited (CNL), through a joint venture (JV) agreement, is targeted at ramping up oil production to 146,000 barrels per day (bpd) to boost national revenue, energy security and create jobs.

The national oil firm stated this while congratulating Chevron Nigeria on the successful completion of Awodi-07 appraisal and exploration well located in the shallow offshore area of the western Niger Delta.

The Awodi-07 well is the third major oil discovery in the Niger Delta by Chevron since late 2024,  following the Meji NW-1 and subsequent extensions. This reflects a significant shift in Nigeria’s energy landscape following the implementation of the Petroleum Industry Act (PIA).

In a statement released on Monday, January 26, signed by its Chief Corporate Communications Officer, Andy Odeh, NNPCL said the Awodi-07 well drilling was part of the Joint Venture’s ongoing efforts to further unlock hydrocarbon potential within its asset portfolio and contribute to boosting crude oil production in Nigeria.

It said the drilling, which reached a total depth of 12,420 feet, was done in less than three weeks (from late November 2025 to mid-December 2025).

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NNPCL said all the exploration activities were done in compliance with approved operational and regulatory standards.

It further stated that results from the well confirmed a significant presence of hydrocarbons across multiple reservoir zones.

“This outcome represents a notable milestone for the NNPC Ltd/CNL Joint Venture, on strengthening confidence in the underlying asset and reinforcing the prospectivity of the area,” it stated.

“The success of Awodi-07 further highlights the effectiveness of disciplined exploration, sound technical evaluation, and the strong operational collaboration between NNPC Ltd and its Joint Venture partner.”

Commenting on the achievement, the Group Chief Executive Officer of NNPCL, Engr. Bashir Bayo Ojulari, said the successful completion of the Awodi-07 well exploration further highlights the strength of the NNPCL/CNL Joint Venture and their 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,” Ojulari added.

Also speaking on the development, NNPCL’s Executive Vice President, Upstream, Mr. Udy Ntia, noted that the Awodi-07 results is clear evidence of the benefits of long-term partnership, technical rigour, and a stable, enabling operating environment.

“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 monetization,” Ntia stated.

NNPCL and Chevron Nigeria Ltd operate various oil and gas fields in the Niger Delta through a joint venture agreement. Chevron owns 40 per cent of the assets in this partnership, while the rest are held by NNPCL.

The state-owned oil firm emphasised that the agreement enables both companies to pool their resources, experience, and investment to develop Nigeria’s oil and gas resources more effectively.

 

Key Details of the Awodi-07 Discovery

Chevron disclosed that Awodi-07 encountered approximately 675 feet of hydrocarbon-bearing reservoirs, indicating strong potential for commercial development.

This consists of 310 feet of appraisal reservoirs and 365 feet across six exploration sands. The well reached a total depth of 12,420 feet in less than three weeks.

Industry analysts note that the success of the exploration highlights renewed investor confidence in Nigeria’s onshore oil assets. While other International Oil Companies (IOCs) like Shell and Eni have been divesting from onshore/shallow water assets, Chevron’s continued investment signals confidence in the PIA reforms, such as simplifying the tax and regulatory hurdles that previously stalled these types of investments for years.