The Nigerian National Petroleum Company Limited (NNPCL) and FIRST Exploration & Petroleum Development Company Limited (FIRST E&P) Joint Venture (JV) have discovered significant hydrocarbon deposits in the Songhai Field, located in OML 85.
Reports confirm that the well intercepted hydrocarbons across eight reservoirs, with over 1,000 feet of hydrocarbon-bearing sands, most of which display excellent reservoir characteristics.
Meanwhile, NNPC Gas Marketing Ltd (NGML), a subsidiary of NNPC Ltd, and its Unincorporated Joint Venture (UJV) partner, NIPCO Gas Ltd, have signed a Gas Sale and Purchase Agreement (GSPA) with Ssonic Petroleum Ltd to supply natural gas for its planned Liquefied Natural Gas (LNG) plant in the Lekki Free Trade Zone, Lagos State.
Under the agreement, finalized on March 6, 2025, the NGML-NIPCO UJV will deliver 80 million standard cubic feet (mmscf) of natural gas per day to the Ssonic Petroleum LNG plant for 20 years, according to NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye.
NNPCL initiated this gas supply deal to enhance domestic gas consumption, support industrial and economic growth, and promote gas as a cleaner, more affordable, and environmentally friendly fuel to help mitigate global warming.
Initial assessments indicate significant oil and gas reserves, reinforcing the field’s commercial viability. The JV plans to conduct further evaluations, including formation testing and well data analysis, to refine resource estimates and optimize development strategies.
FIRST E&P’s General Manager of Exploration and Development, Segun Owolabi, described the discovery as a key milestone in maximizing asset potential.
“This success highlights our strategic approach to exploration and our commitment to delivering long-term value for all stakeholders,” Owolabi stated.
As the majority partner in the JV, NNPCL stressed the strategic relevance of this discovery in advancing Nigeria’s production growth and cost-efficiency goals.
NGML CEO, Seyi Omotowa, noted that the Songhai Field discovery aligns with NNPCL’s broader upstream objectives.
“This achievement supports NNPCL’s mission to boost production and optimize costs. It also reflects our dedication to strategic partnerships, advanced technology, and efficient operations to maximize Nigeria’s hydrocarbon resources sustainably,” Omotowa said.
The discovery underscores the role of collaboration in expanding Nigeria’s hydrocarbon reserves.
NNPCL’s Group Chief Executive Officer, Mele Kyari, reaffirmed the company’s focus on efficiency and long-term value creation.
“This discovery strengthens confidence in Nigeria’s offshore potential and highlights how partnerships drive reserve and production growth. NNPCL remains committed to maximizing efficiency and creating long-term value for the nation,” Kyari stated.
Source:apanews.net
