ExxonMobil Commits $1bn to Nigeria’s Usan Oil Field

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.