ExxonMobil and its partners are set to invest $1 billion in the Usan Infill Project offshore Nigeria, aiming to boost crude oil production by approximately 40,000 barrels per day. This investment, confirmed by ExxonMobil Nigeria Managing Director Jagir Baxi at a conference in Abuja, marks the company’s return to drilling activities in Nigeria for the first time since 2016.
Esso Exploration and Production Nigeria, a subsidiary of ExxonMobil, operates the OML 138 block, which includes the Usan field, under a production-sharing contract with Nigeria’s state-owned NNPC Limited. The project is expected to achieve first oil in about 18 months, following seismic analyses that revealed new development opportunities, as stated by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
