In a renewed drive to support Nigeria’s crude oil production targets, Petralon 54 Ltd, a subsidiary of indigenous oil exploration firm Petralon Energy Limited, has begun drilling a second well at the Dawes-Island Field in Rivers State, aiming to add 2,500 barrels per day to the country’s output.
The drilling campaign commenced earlier this month following the arrival of the OES Teamwork rig at the site from a prior successful operation. Assigned as the sole operator of the Dawes-Island Field, Petralon 54 is positioning itself as a vital contributor to the national oil output and a strong player in Nigeria’s upstream sector.
“Drilling an oil well is an overwhelming task for any organization because of the logistics, and the investments required, but we are happy that our meticulous planning and efforts are met with good fortunes,” said Ahonsi Unuigbe, Founder and CEO of Petralon Energy Limited.
“We are emboldened to continue our economic ambassadorial role of creating value for our stakeholders – shareholders, investors, our host communities, indigenous oil servicing companies and regulators.
Related: PETROAN Urges NNPCL to Stick to 30-Day Repair Schedule for PH Refinery
As an entrepreneurial indigenous oil exploration and production company, we are open to new opportunities, and ready to advance the socio-economic good of the Nigerian nation,” Unuigbe added.
Petralon’s renewed activity comes at a time when the Federal Government is intensifying efforts to revamp oil production through investor-friendly policies and programs like the ‘Project One Million Barrels per Day’ initiative. The initiative aims to boost national crude output by an additional one million barrels daily, leveraging stronger collaboration between operators and regulators to eliminate production bottlenecks.
Petralon 54 was awarded Petroleum Prospecting License No. 259 (PPL 259) under the Petroleum Industry Act, 2021. Since then, the company has maintained active engagements with its host communities, emphasizing partnership and mutual development. The firm regards these communities not just as hosts but as strategic stakeholders in the long-term success of the Dawes-Island Field.
As operations scale up, Petralon Energy says it is focused on not just increasing field production but also on identifying strategic, value-driven investments to unlock further growth opportunities within Nigeria’s oil and gas industry.
