Nigeria Makes Fresh Crude Oil Discovery

The well, drilled by Chevron Nigeria Limited (CNL) under its joint venture with NNPC Ltd, is located in shallow offshore acreage and confirmed the presence of hydrocarbons across multiple reservoir zones.

According to NNPC spokesperson Andy Odeh, the drilling forms part of the joint venture’s ongoing efforts to further delineate and unlock hydrocarbon potential within its asset portfolio.

Although commercial volumes from Awodi-07 have yet to be disclosed, the discovery comes as Nigeria works to consolidate its production recovery after years of losses caused by oil theft, vandalism, and underinvestment.

Output has rebounded to about 1.7–1.8 million barrels per day in 2025, allowing Nigeria to maintain its lead over Angola as Africa’s top oil producer.

Nigeria’s oil resurgence is no longer driven solely by upstream discoveries. The launch of the $20 billion Dangote Petroleum Refinery, currently Africa’s largest, has fundamentally altered the country’s energy economics.

With a processing capacity of 650,000 barrels per day, the facility is now supplying petrol, diesel, and aviation fuel to the domestic market, sharply reducing dependence on costly fuel imports.

Analysts say discoveries like Awodi-07 strengthen the supply outlook needed to sustain this downstream shift, helping Nigeria retain more value locally rather than exporting crude only to re-import refined products. The refinery alone is expected to save billions of dollars annually in foreign exchange while stabilising domestic fuel supply.

Nigeria’s integrated approach increasingly sets it apart from other African producers. Angola remains heavily reliant on crude exports and continues to battle declining output from ageing fields.

Ghana and Equatorial Guinea operate smaller upstream sectors, while emerging producers such as Namibia are still years away from first oil.

By combining scale, proven reserves, and growing refining capacity, Nigeria occupies a unique position on the continent.