ExxonMobil kicks off $1-billion Nigeria investment

Nigeria

ABUJA, July 10, 2026 – ExxonMobil and its partners will invest USD 1 billion in the offshore Usan Infill Project in Nigeria’s OML 138, a development expected to add production of 40,000 bopd, Reuters reported on Wednesday.

ExxonMobil affiliate Esso Exploration and Production Nigeria operates the field under a PSA with NNPCL, alongside partners Chevron, TotalEnergies and CNOOC subsidiary Nexen. The investment commitment was confirmed by Esso Nigeria managing director Jagir Baxi at an oil conference in Abuja.

Read our interview with Jagir Baxi here.

According to Oritsemyiwa Eyesan, chief executive of the Nigerian Upstream ⁠Petroleum Regulatory Commission, the project is expected to deliver first production within 18 months. It will mark Esso’s return to drilling activity in Nigeria, where its latest campaign took place in 2016.

ExxonMobil’s activities in Nigeria are centred around deepwater exploration and production. The company is one of the country’s largest international upstream investors.

Photo courtesy of Esso Nigeria

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