Renaissance Africa Energy Company Limited has announced a major offshore oil discovery in Nigeria following the successful drilling of the JK-004 exploration well in Oil Mining Lease (OML) 74.
According to the company, preliminary assessments show that the well encountered an estimated 1,000-foot hydrocarbon-bearing interval across seven reservoirs. Initial logging and fluid analysis also confirmed the presence of high-quality reservoirs containing light crude oil.
Commenting on the achievement, Renaissance Managing Director and Chief Executive Officer, Tony Attah, described the discovery as an important milestone that demonstrates the company’s commitment to supporting Nigeria’s long-term crude oil production goals.
Attah noted that the successful completion of the JK-004 well, slightly more than a year after Renaissance assumed operatorship of the assets, highlights the effectiveness of the company’s exploration strategy. He also acknowledged the contributions of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Nigerian National Petroleum Company (NNPC) Limited, TotalEnergies, and Agip Energy and Natural Resources for their collaboration throughout the project.
He further commended NNPC Group Chief Executive Officer, Bayo Ojulari, and Executive Vice-President, Upstream, Udobong Ntia, for providing strategic leadership that contributed to the success of the joint venture.
Vice-President of Exploration and Chief Explorer at Renaissance, Johnbosco Uche, said the discovery reflects the company’s technical expertise and disciplined exploration efforts. He added that the location of the JK-004 well close to an existing oil field would support faster commercial development and improve the project’s economic value.
The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, Oritsemeyiwa Eyesan, described the discovery as a significant step toward increasing Nigeria’s hydrocarbon reserves and strengthening the country’s long-term energy future. She also reiterated the commission’s commitment to maintaining a regulatory environment that encourages investment and growth in the oil and gas sector.
Chairman of the Renaissance Board, Layi Fatona, also praised the achievement, saying it demonstrates the continued potential of Nigeria’s hydrocarbon basins and the importance of consistent, technology-driven exploration activities.
