ExxonMobil Returns to Nigeria's Deepwater Drilling with $1bn Investment

ExxonMobil returns to Nigeria's deepwater drilling with $1bn investment

By Joseph Erunke, Abuja ExxonMobil has announced its return to deepwater drilling in Nigeria after nearly a decade, unveiling a $1 billion investment in the Usan Infill Project that is expected to generate an additional $1.2 billion in government revenue over the next four years and increase crude oil production by about 40,000 barrels per […]

ExxonMobil and partners to invest $1 billion in Nigeria's oilfield, regulator says

ExxonMobil Plans $1bn Investment to Boost Nigeria's Oil Output by

By Adedapo Adesanya The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed that ExxonMobil and its partners have committed $1 billion to on-block activities for the Usan Infill project in oil mining lease (OML) 138, a development expected ‌to add 40,000 barrels per day of oil production. According to a statement by NUPRC spokesperson, Mr […]

Nigeria To Add 40,000 Bpd As ExxonMobil Revives Deepwater Drilling

Nigeria’s crude oil production is set to receive a significant boost as ExxonMobil resumes deepwater drilling operations with a $1 billion investment in the Usan field. The project is expected to increase Nigeria’s oil production by approximately 40,000 barrels per day (bpd) once completed, supporting the Federal Government’s drive to raise crude output, attract fresh […] The post Nigeria to Add 40,000 bpd as ExxonMobil Revives Deepwater Drillin…

What Does Nigeria's USD51 Billion Reserve Milestone Mean If Most New

EBC Financial Group says Nigeria has rebuilt confidence, but the question now is whether long-term investment, closer naira rates and deeper market trust support it. LAGOS, 9 July 2026 – Nigeria’s foreign reserves have climbed to about USD51 billion, a decade-plus high, according to Central Bank of Nigeria (CBN). EBC Financial Group (EBC) notes that this reflects stronger investor confidence, but the second half may show whether it holds, as the…