ExxonMobil and its partners will invest $1 billion in the Usan Infill Project offshore Nigeria, a development expected to add about 40,000 barrels per day (bbl/d) of crude oil production. ExxonMobil Nigeria Managing Director Jagir Baxi confirmed the investment commitment during an industry conference in Abuja, Nigeria.
The investment marks ExxonMobil’s return to drilling activity in Nigeria, with its affiliate Esso Exploration and Production Nigeria undertaking its first drilling campaign in the country since 2016, according to Reuters.
Esso Exploration and Production Nigeria operates the OML 138 block, which includes the Usan field, under a production-sharing contract with Nigeria’s state-owned national oil company, NNPC Limited.
The Usan Infill Project is expected to achieve first oil within 18 months, following seismic data analysis that identified additional development opportunities within the field, said the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which oversees the technical and commercial regulation of Nigeria’s upstream oil and gas sector.
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