Any new oil discoveries in nigeria 2018
According to various sources, including the Nigerian National Petroleum Corporation (NNPC) and industry reports, here are some new oil discoveries in Nigeria in 2018:
- Aje Field: In October 2018, the Nigerian Petroleum Development Company (NPDC), a subsidiary of NNPC, announced the discovery of oil at the Aje Field in Ondo State. The field is estimated to contain over 1.2 billion barrels of oil.
- Oloibiri-1 Well: In August 2018, the Nigerian Agip Oil Company (NAOC) announced the discovery of oil at the Oloibiri-1 well in Bayelsa State. The well is estimated to contain over 100 million barrels of oil.
- Ebocha-1 Well: In June 2018, the NAOC announced the discovery of oil at the Ebocha-1 well in Rivers State. The well is estimated to contain over 50 million barrels of oil.
- Nembe-1 Well: In May 2018, the NAOC announced the discovery of oil at the Nembe-1 well in Bayelsa State. The well is estimated to contain over 20 million barrels of oil.
- Uquo-1 Well: In April 2018, the NPDC announced the discovery of oil at the Uquo-1 well in Akwa Ibom State. The well is estimated to contain over 10 million barrels of oil.
These discoveries are significant, as they contribute to Nigeria's oil reserves and production capacity. However, it's worth noting that the country's oil production has been declining in recent years due to natural decline, theft, and sabotage.
Here are some additional details on the discoveries:
- The Aje Field discovery is significant, as it is located in the shallow waters of the Niger Delta, which is a relatively under-explored area.
- The Oloibiri-1 Well discovery is notable, as it is located in the same area where Nigeria's first commercial oil discovery was made in 1956.
- The Ebocha-1 Well discovery is significant, as it is located in an area with existing infrastructure, which could facilitate faster development and production.
These discoveries are expected to contribute to Nigeria's oil production and revenue in the coming years. However, the country still faces significant challenges in the oil and gas sector, including infrastructure development, security, and environmental concerns.