By Ebi Kesiena
Chevron Corporation is ramping up its oil exploration in Africa, with a focus on Nigeria and Angola, according to Liz Schwarze, Vice President of Global Exploration at Chevron.
In an interview with Bloomberg, Schwarze expressed optimism about the potential for a resurgence in oil production across these nations, despite recent declines.
West Africa holds significant hydrocarbon reserves that remain under-explored compared to other regions. Chevron’s expansion efforts underscore the company’s belief in the potential of this area, with recent actions reflecting its commitment to leveraging untapped resources.
In Nigeria, Chevron recently discovered oil in the Niger Delta’s Petroleum Mining Lease (PML) 49, a shallow offshore region in the Western Niger Delta. This “near-field” discovery at the Meji NW-1 well could yield up to 17,000 barrels per day, marking a promising development for Chevron’s operations in Nigeria. The company stated that the discovery aligns with its global strategy to extend the lifespan of existing assets through targeted resource discovery and swift development.
Chevron’s exploration agenda stretches beyond Nigeria and Angola. In October, the company started drilling operations in Egypt and is set to begin exploration in Namibia in December. In Angola, which left the Organization of Petroleum Exporting Countries last year amid declining oil production, Chevron has acquired Deepwater blocks 49 and 50, signaling a commitment to further exploration in the country’s promising offshore regions.
With this renewed focus on frontier exploration, Chevron aims to unlock new resources and support long-term production gains across Africa, reinforcing the continent’s strategic importance in its global portfolio.
