Our Operations
Operated Assets [ Dawes Island ]
Located in the Eastern Niger Delta, Dawes Island sits within the boundaries of what was once OML 54, operated by Chevron. It covers approximately 40 km² of swamp terrain, just 15 km southwest of Port Harcourt and adjacent to key refining and export infrastructure. Beneath its surface lie an estimated 17.6 million barrels of recoverable resources, confirmed through 3D seismic data and multiple successful drilling campaigns.
In 2021, following years of investment and technical groundwork, Petralon 54 Limited — our operating subsidiary — secured a 100% interest in Petroleum Prospecting License 259 (PPL 259). This milestone marked the beginning of a new chapter for Dawes Island, transforming a dormant marginal field into a producing asset.
Since then, we have re-entered, drilled, and completed multiple wells, achieving production milestones that reaffirm both our technical capability and our philosophy of sustainable, community-led growth. In 2025, the DI-2 well reached stable production above 2,000 barrels per day, a testament to disciplined execution, trusted partnerships, and operational resilience. Building on this momentum, DI-3 was successfully spudded in November 2025, marking the next phase of our development campaign. Together, these wells are unlocking the full potential of Dawes Island and moving us closer to our 2030 ambition of scaling production beyond 15,000 barrels per day.
In 2021, following years of investment and technical groundwork, Petralon 54 Limited — our operating subsidiary — secured a 100% interest in Petroleum Prospecting License 259 (PPL 259). This milestone marked the beginning of a new chapter for Dawes Island, transforming a dormant marginal field into a producing asset.
Since then, we have re-entered, drilled, and completed multiple wells, achieving production milestones that reaffirm both our technical capability and our philosophy of sustainable, community-led growth. In 2025, the DI-2 well reached stable production above 2,000 barrels per day, a testament to disciplined execution, trusted partnerships, and operational resilience. Building on this momentum, DI-3 was successfully spudded in November 2025, marking the next phase of our development campaign. Together, these wells are unlocking the full potential of Dawes Island and moving us closer to our 2030 ambition of scaling production beyond 15,000 barrels per day.
Non-Operated Assets
Through our indirect shareholding in Meren Energy, Petralon maintains exposure to some of Nigeria’s most prolific producing assets. Petralon Energy indirectly holds a 4.24% shareholding in Meren Energy, which in turn has an 8% interest in OML 127 and a 16% interest in OML 130 in Nigeria. OML 127 contains the Agbami field, while OML 130 contains the Akpo, Egina and Preowei fields. Meren Energy has combined net entitlement production of ca. 51,000 boe/day from the producing Agbami, Akpo and Egina fields, which result in a net reflective production of ca. 1,500 boe/day for the Petralon’s combined shareholding interest in the entity.
