Petralon Energy said that the DI-2 well at Dawes Island (PPL 259) has been successfully brought on stream and is now producing 2,100bopd, alongside the successful spudding of the DI-3 well, marking the next phase in the field’s phased development plan. The DI-2 well was drilled and completed in July 2025 with zero lost-time incidents, demonstrating the operational discipline and HSE standards that define the company’s approach.
This operational milestone was reinforced by the visit of the Honourable Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, to Dawes Island. His visit represents an important acknowledgement of Petralon’s progress and the Federal Government’s growing confidence in capable indigenous operators supporting Nigeria’s push toward higher national production.
The Minister commended the progress being made at Dawes Island, noting that very few licensees have been able to drill and commence production at the pace Petralon has demonstrated, and highlighted the company’s role in advancing responsible, performance-driven operations in Nigeria’s upstream sector.
In his words, “I came here to show that Petralon represents the example we expect other licensees to follow. Every barrel counts, and that’s why I’m here physically to encourage companies like Petralon. These are the actions we need. As I’ve said, our slogan now is ‘drill baby drill,’ and every drilling campaign plays a role in meeting our national quota.”
Dawes Island represents a strategically important asset in Petralon’s portfolio. Located in the Eastern Niger Delta’s swampy terrain, the 46 km² field sits close to Port Harcourt and critical refining and export infrastructure. The field holds an estimated 17.6 million barrels of recoverable resources.
“Each well strengthens our production base and moves us closer to achieving our growth ambitions, demonstrating how indigenous energy companies can drive Nigeria’s energy security while creating shared value for communities, developing local talent, and building sustainable prosperity.” Petralon stated.
The DI-3 well, spudded in November 2025, is expected to contribute to Petralon’s near-term target of doubling production. Together, DI-2 and DI-3 are integral to the company’s broader 2030 Ambition, scaling production responsibly while deepening indigenous capacity and strengthening Nigeria’s energy security.
This milestone underscores Petralon’s commitment to safe, responsible, and efficient operations. The well was delivered with zero lost-time incidents, reinforcing the company’s operational discipline and world-class HSE standards. The Minister’s visit affirms Petralon’s role as a partner in advancing Nigeria’s energy security and reflects the Federal Government’s increasing confidence in indigenous operators who are delivering responsibly and efficiently.
In 2021 and 2022, Petralon Energy raised ca. $60m to complete the acquisition of a 6.06% shareholding in Prime Oil & Gas Coöperatief U.A. (Prime Oil & Gas) from Helios Investment Partners. Prime Oil & Gas has an 8% interest in the Chevron-operated OML 127 and a 16% interest in the Total-operated OML 130 in Nigeria. These contain the producing Agbami, Akpo, and Egina deep-water fields, three of the continent’s biggest producing assets.
