ExxonMobil and its partners have committed $1 billion to the on-block activities for the Usan Infill project in oil mining lease (OML) 138.
According to a statement by Eniola Akinkuotu, NUPRC
spokesperson, Jagir Baxir, managing director (MD) of ExxonMobil affiliates in
Nigeria, announced the investment commitment at the ongoing 2026 NOG Energy
Week Conference on Tuesday.
In his remarks, Baxir commended the Nigerian Upstream
Petroleum Regulatory Commission (NUPRC) and other government agencies for their
role in facilitating the project.
Addressing the investment commitment, Akinkuotu said it is
expected to add 40,000 barrels per day.
“Esso Exploration and Production is the operator of OML 138,
which contains the Usan field. The block is operated under a Production Sharing
Contract with NNPC Limited,” he said.
“Co-venture partners in OML 138 include Chevron,
TotalEnergies, and Nexen, a wholly owned subsidiary of CNOOC.
“As a short-cycle investment, the project is expected to
sustain and increase production from the Usan field, with first production
within 18 months after the seismic data identified the investment opportunity.”
Also, Oritsemyiwa Eyesan, NUPRC chief executive officer
(CEO), said the announcement was particularly important because Esso
Exploration and Production Nigeria – ExxonMobil’s affiliate – had not
undertaken any drilling operation since 2016.
“With Esso’s last drilling operation dating back to 2016,
the resumption of drilling signals renewed potential and value in our deep
water acreage,” she said.
Eyesan said the NUPRC remains steadfast in advancing
Nigeria’s portfolio of deep water projects.
She noted that the projects are critical to meeting the country’s production targets, boosting oil and gas reserves, sustaining government revenue, and strengthening investor confidence.
NUPRC PRESENTS PPLs TO AWARDEES
According to the statement, the NUPRC presented petroleum
prospecting licences (PPLs) from the successful conclusion of the 2022/2023
mini bid round and the Nigeria 2024 licensing round.
“Some of the companies that were presented with their awards
at the venue include: Broron Energy Limited (PPL 2009), Petroli Energy
Marketing and Supply Limited (PPL 269), Sahara Deepwater Resources Limited (PPL
270 and PPL 271) and Tulcan Energy E&P Co (PPL 2008),” NUPRC said.
The commission said execution ceremonies for companies whose
representatives were absent would be held at later dates agreed upon by both
parties.
According to the NUPRC, the exercise covers 12 successful
awardees across 19 PPLs, spanning a balanced mix of deep offshore, shallow
water and continental shelf acreages.
The commission said the portfolio reflects the wide range of
investment opportunities offered through the licensing rounds.
NUPRC described the awards as another major milestone in
Nigeria’s ongoing drive to attract investment into the upstream petroleum
sector.
The commission added that the
awards would help accelerate exploration activities, expand the country’s
hydrocarbon reserves, and generate long-term value for the Nigerian economy.
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