Business a.m.
The Nigerian National Petroleum Company Limited (NNPC Limited) and FIRST Exploration & Petroleum Development Company Limited (FIRST E&P) Joint Venture (JV) have confirmed a significant hydrocarbon discovery in the Songhai Field, located in OML 85.
The well was spudded on November 18, 2024, as part of efforts to increase and sustain the JV’s oil production over the next five years. It was successfully drilled to a total depth of 8,883 feet Measured Depth (MD) in 30 metres of water.
The well encountered hydrocarbons across eight reservoirs, logging over 1,000 feet of hydrocarbon-bearing sands, most of which exhibit excellent reservoir properties. Preliminary analysis indicates substantial oil and gas volumes, reinforcing the field’s commercial potential. Further evaluations, including formation testing and well data integration, will be conducted to refine resource estimates and optimize field development plans.
Speaking on the discovery, Segun Owolabi, general manager, exploration and development at FIRST E&P, described it as a major milestone in the JV’s efforts to maximize the potential of its assets.
“This discovery marks a major milestone in our efforts to unlock the full potential of our assets. The success at Songhai Field underscores the effectiveness of our exploration strategy and our commitment to delivering sustainable value to all stakeholders,” Owolabi stated.
NNPC Limited, as the majority partner in the JV, also emphasised the strategic importance of the discovery in supporting Nigeria’s production growth and cost optimization targets.Â
Seyi Omotowa, chief upstream investment officer of NUIMS, noted that the success at Songhai Field aligns with NNPC Limited’s broader upstream objectives.
“This aligns with NNPC Limited’s mandate to drive production growth and cost optimization. The success at Songhai Field reflects our commitment to strategic partnerships, advanced technology, and efficient operations to maximize Nigeria’s hydrocarbon potential sustainably,” he said.
The discovery also highlights the role of strategic collaboration in expanding Nigeria’s hydrocarbon reserves.Â
Commenting on this, Mele Kyari, NNPC Limited’s Group chief executive officer, reaffirmed the company’s commitment to efficiency and long-term value creation.
“This discovery reaffirms the potential of Nigeria’s offshore assets and the importance of collaboration in boosting reserves and production. NNPC Limited remains committed to driving efficiency and long-term value creation for the nation,” Kyari stated.
Currently, the JV maintains a steady daily production of approximately 57,000 barrels of oil per day (bopd) from its OML 83 and 85 assets. The new discovery in Songhai Field is expected to further enhance production and contribute to Nigeria’s energy security.
Furthermore, the NNPC/FIRST E&P JV remains committed to operational excellence, guided by rigorous safety standards, technical expertise, and efficient project execution. With over 9 million man-hours of LTI-free operations, the JV continues to lead in safe and responsible hydrocarbon development.
This milestone strengthens Nigeria’s oil and gas sector, reinforcing the JV’s role in supporting the Federal Government’s goal of increasing national hydrocarbon production and reserves while ensuring sustainable energy growth.
