Nigeria’s drilling campaign is still on track to start in Q4 2026, with a well-intervention programme on Akpo and Egina supporting and sustaining production ahead of the broader infill, appraisal and exploration programme around Agbami, Akpo, and Egina FPSOs in 2026–2028.
According to Meren, efforts are in top gear to continue building during the 2026 second quarter towards the return of drilling activity across the Agbami, Akpo and Egina fields, with efforts to secure deepwater drilling units for the drilling campaigns underway and now expected to commence in Q4 2026.
This timing has no impact on Meren’s 2026 production guidance, as contributions from new wells were not anticipated within the current year. In a positive development for 2026 production, a well intervention campaign across selected existing wells on both Akpo and Egina has been included in the work programme, with the planned interventions expected to support and sustain production ahead of the broader drilling campaign.
The company further stated that work remains active across the PMLs 2/3 license areas, with reservoir management and infill well evaluation continuing across both Akpo and Egina. Further opportunities remain under active consideration. The maturation of the Akpo Far East prospect progressed during the quarter; it remains a strategically positioned, fast-cycle tie-back opportunity utilising existing Akpo infrastructure in case of exploration success.
On the Preowei field (“PML 4”), subsurface studies and scenario assessments continued through Q2 2026, with the operator advancing studies for a potential joint development of Preowei alongside other viable nearby resources. The objective will be to achieve a more cost-effective development scheme. In parallel, TotalEnergies has commenced a request for information process with potential contractors, ahead of a projected Q4 2026 restart of the FEED.
Additionally, maturation activities on the planned Egina South appraisal well by the operator in the neighbouring OPL 257 continued during the quarter, with a view to its inclusion in the upcoming Akpo/Egina drilling campaign. Progressing this well is a supporting step towards fulfilling the work commitments under the initial exploration period of PPL 261.
For Agbami (“PML 52”) and Ikija (“PPL 2003”), preparations for the first phase of the upcoming drilling programme continued during the quarter, with the Ikija appraisal well on schedule to commence in Q4 2026 and the broader Agbami infill programme, expected to comprise six wells, remaining on track across 2027 and 2028. Production operations continued to recover from the Q4 2025 turnaround and maintenance campaign, with Meren actively engaging the Operator on gas compression equipment reliability to support gas injection performance and sustained production from the field.
Nigeria’s improving investment climate continued to gain momentum during the quarter. During engagements with the regulator, they confirmed Ministerial approval of the 2026 Licensing Round, with launch expected in Q3 2026. These developments, alongside continued large-scale deepwater investment commitments by international operators, underscore growing confidence in Nigeria as a long-term destination for energy investment.
