By Emmanuel Kanayo
Imo State has hit an oil jackpot following Seplat Energy's discovery of an estimated 19 million barrels of crude oil and 157 billion cubic feet (bcf) of gas at its Aku-01 well in Oil Mining Lease (OML) 53.
The find, located onshore in Imo, was disclosed by the company in its unaudited nine-month report released on Thursday, October 30, 2026. Seplat described it as an accidental discovery that was not in its original exploration programme.
But for indigenes of the state, the numbers mean more than barrels and cubic feet.
Stakeholders in the host communities say the discovery has sparked fresh hope for job opportunities for youths, increased patronage for local service companies, and a potential boost to Imo's revenue from the 13 per cent oil derivation fund if the well quickly comes on stream.
According to Seplat, preliminary evaluation shows five reservoir intervals holding about 19 million barrels of oil and 157bcf of gas in place.
The company said the Aku-01 well is currently being completed as a potential future production well that will be tied back to existing infrastructure to enable early monetisation.
Seplat added that the result has de-risked four adjacent prospects in the area, with one slated for testing during the next exploration phase in 2027. A second phase of exploration could begin as early as next year.
Seplat holds 40 per cent participating interest in OML 53, acquired from Chevron in 2015, while the Nigerian National Petroleum Company Limited (NNPCL) holds 60 per cent as joint venture partner.
If successfully developed, the find is expected to strengthen Imo's position among Nigeria's oil-producing states and support the Federal Government's target of raising national crude output to three million barrels per day by 2030.
