ExxonMobil subsidiary Mobil Working Nigeria has discovered a rich gas condensate deposit off the coast of south-east Nigeria.

Approximately 50.3m of rich gas condensate was found at the Pegi-1 discovery well and significant additional potential remains in untested deeper targets within the oil block and adjacent blocks, according to Associated Press.

The discovery comes as part of a joint venture between ExxonMobil and state-run Nigerian National Petroleum.

The find could supply Nigeria’s growing domestic market, the firm said.