Chevron Nigeria Limited (CNL), a subsidiary of Chevron Corporation, has announced the discovery of a new oil field estimated at 17,000 barrels of oil per day (bpd), an initiative that is expected to boost Nigeria's struggling oil production.

The “near field discovery” was made by drilling Meji NW-1 in oil mining concession 49, Chevron representatives told S&P Global Commodity Insights in an Oct. 18 statement.

The block is located in the shallow offshore zone of the western Niger Delta.

“This achievement is in line with CNL's intention to continue to develop and expand its Nigerian resources, including land and shallow-water areas,” the company said in the statement, “and supports Chevron's broader global exploration strategy to find new resources that extend the life of production assets in existing operating areas and ensure production with shorter development cycle times.

The discovery of this new field comes at a time when Nigeria is facing difficulties in its oil sector. The country's oil production has been falling in recent years due to a variety of factors, including sabotage, theft, and aging infrastructure

This discovery is a boost for the Nigerian economy and illustrates the contrast with Chevron peers, who are leaving the Niger Delta en masse in favor of deep-sea opportunities in Nigeria in favor of deep-sea opportunities in Nigeria, less risky jurisdictions, and borders like Namibia and Guyana.

The new field should make it possible to offset some of these declines and increase oil production in Nigeria. It is also expected to create jobs and generate income for the local communities where it is located.