Oloibiri gave its name to Nigeria's first commercially producing oil field.
Shell-BP discovered oil at Oloibiri in present-day Bayelsa State in 1956, after earlier exploration wells had failed to establish a commercial petroleum industry. Production began in 1958, marking the start of Nigeria's modern oil era and transforming the country’s economic importance in the global energy market.
The field lies in the Niger Delta, a region formed from sediments deposited by the Niger River. Its petroleum development also began a long and complicated relationship between oil production, environmental damage, local communities, and national revenue.
Oloibiri is not the same as Port Harcourt, a major nearby industrial city, or Bonny, an important oil-export location. The name refers specifically to the town and the oil field associated with Nigeria’s first commercial production.