ABUJA, July 9 – ExxonMobil and its partners have committed $1 billion to the Usan Infill Project offshore Nigeria, a development expected to increase the country’s crude oil production by 40,000 barrels per day (bpd) as authorities intensify efforts to attract fresh upstream investment.
The investment marks ExxonMobil’s return to drilling operations in Nigeria through its affiliate, Esso Exploration and Production Nigeria, whose last drilling campaign in the country took place in 2016, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Esso Exploration and Production Nigeria operates Oil Mining Lease (OML) 138, which contains the Usan oil field, under a production-sharing contract with NNPC Limited.
Speaking at an oil industry conference in Abuja, ExxonMobil Nigeria Managing Director Jagir Baxi confirmed the company’s commitment to the project, signalling renewed confidence in Nigeria’s upstream petroleum sector.
NUPRC Chief Executive Oritsemyiwa Eyesan said the Usan Infill Project is expected to deliver first oil within 18 months, following the identification of new development opportunities through seismic data.
The project forms part of Nigeria’s broader strategy to increase crude oil production by encouraging investment in both offshore and onshore assets after years of declining output and underinvestment.
Separately, the NUPRC announced that it had presented 19 petroleum prospecting licences to successful bidders under the 2022/2023 Mini Bid Round and the 2024 Licensing Round.
The licences cover acreage across deepwater, shallow-water and continental shelf basins, reflecting the government’s continued efforts to expand exploration activity and unlock additional investment across Nigeria’s oil and gas industry.
The latest investment by ExxonMobil is expected to strengthen confidence in Nigeria’s upstream sector as the country seeks to boost production capacity, improve energy revenues and attract greater participation from international energy companies.
