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France-headquartered energy giant TotalEnergies and its U.S.-based peer Chevron have set the wheels in motion to embark on offshore drilling and appraisal activities off the coast of Nigeria in search of more deepwater oil and gas arsenal in West Africa.
As progress is being made toward the restart of drilling and intervention activities across TotalEnergies’s Akpo and Egina fields in the Niger Delta Basin offshore Nigeria following the 2025 pause, according to the firm’s partner, Canada-headquartered Meren Energy , formerly Africa Oil, the work to secure a deepwater drilling rig is advancing, with rig mobilization expected in H2 2026.
The Canadian player underlines that the Akpo Far East exploration well is planned as the first well in the upcoming campaign, followed by a return to drilling on the Akpo and Egina fields, with production from these wells expected in early 2027. In addition, well intervention activities are being planned across selected existing wells to support and sustain production ahead of the broader drilling campaign.
Meren claims that the Akpo Far East prospect remains a strategically positioned, fast-cycle tie-back opportunity, utilizing existing Akpo infrastructure in case of exploration success, with an unrisked, best estimate, gross field prospective resource volume of 143.6 million barrels of oil equivalent (boe), or approximately 23.0 million boe net to the firm’s 16% working interest.
The targeted hydrocarbons are predicted to be light, high gas-oil ratio (GOR) oil equivalent to those found in the Akpo field, with the possibility of achieving the initial production from existing production manifolds, with the potential to add significant reserves.
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As prospect maturation activities continue, the current efforts are focused on well optimization and final well design, supporting the planned drilling later in 2026. The firm elaborates that work remains active across PMLs 2/3 licence areas, with reservoir management and infill well evaluation continuing across both Akpo and Egina, and further opportunities remaining under active consideration.
Moreover, the subsurface studies and scenario assessments for TotalEnergies’ Preowei field in PML 4 continued into Q1 2026, with progress on subsurface maturation activities and updated resource estimates to support the timing and scope of a potential final investment decision (FID).
Meren is adamant that the activity for the Egina South oil discovery, including planned appraisal drilling by the operator on the extension of this discovery in the neighbouring OPL 257 during 2026, continues to offer potential upside with the proximity to the existing FPSO Egina infrastructure .
Meanwhile, Chevron’s PML 52 ( Agbami ) and PPL 2003 ( Ikija ) activities during the period focused on progressing the first phase of the upcoming drilling program in Q4 2026, starting with the Ikija appraisal well.
Meren Energy underscores that Agbami, which is situated off the central Niger Delta, operated by Star Deep Water Limited, an affiliate of Chevron, continued to recover from the planned Q4 2025 turnaround and maintenance campaign.
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Based on the Canadian player’s update, the broader infill drilling program for Agbami remains on track, with six infill wells currently planned across 2027 and 2028. Meren emphasizes that Nigeria’s macroeconomic and sector-specific reforms continue to gain traction, with improved fiscal clarity, regulatory stability, and targeted government incentives supporting renewed investment in the country’s upstream sector.
As a result, the improved investment climate is believed to be evidenced by recent developments, including the recommencement of work on Shell’s $20 billion Bonga Southwest project, with the FID expected in 2027, and ExxonMobil’s advancement of the Owowo deepwater project, representing a further $8 billion of investment in the country’s offshore oil sector.
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Oliver Quinn , Meren’s President and CEO, commented: “The conflict in the Middle East has created the most significant disruption to global oil supply on record, driving major price volatility. As international buyers seek alternatives to Middle Eastern supply routes, West Africa’s deepwater basins are emerging as a strategically vital source of secure and reliable hydrocarbons.
“ Meren, with its pillars of strong balance sheet, high netback production and deep portfolio of organic growth opportunities, is well positioned to benefit as the strategic value of West African energy assets is repriced.”
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