Renaissance announces major oil discovery in Nigeria

PORT HARCOURT, July 9, 2026 – Renaissance Africa Energy and NNPCL have made a major hydrocarbons discovery in shallow-water Nigeria, Upstream reported on Wednesday.

The JK-004 exploration well, located in OML 74 in the eastern Niger Delta, encountered seven reservoirs, with initial estimates indicating the presence of a hydrocarbons-bearing column of approximately 304.8 metres (1,000 feet).

Renaissance said initial log interpretation and fluid analysis confirmed “excellent reservoir quality and light oil.” Renaissance’s partners in OML 74 are Eni and TotalEnergies.

Renaissance Africa Energy is a consortium created in 2025 from Shell’s divestment of a large portfolio of onshore assets held by Shell Petroleum Development Company of Nigeria. It comprises four Nigerian independents – ND Western, Aradel Energy, Waltersmith Petroleum Development Company, First Exploration and Petroleum Development OML 34 – and the Swiss firm Petrolin Trading.

Photo courtesy of Renaissance Africa Energy

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