ExxonMobil invests $1bn in Usan Infill Project, lifts Nigeria oil output
ExxonMobil and its partners have committed $1 billion to the Usan Infill Project offshore Nigeria, aiming to lift crude output by about 40,000 barrels per day. The investment was announced on Wednesday, July 8, 2026, at the 25th NOG Energy Week Conference in Abuja by Jagir Baxi, Managing Director of ExxonMobil affiliates in Nigeria. The project operates under OML 138, operated by Esso Exploration and Production Nigeria on behalf of a consortium that includes Chevron, TotalEnergies and Nexen (a CNOOC subsidiary), under a production-sharing contract with NNPC Limited. NUPRC chief Oritsemyiwa Eyesan praised the move as a sign of renewed investor confidence, noting it marks ExxonMobil's return to drilling after a hiatus since 2016. First oil is expected within about 18 months following recent seismic work that identified additional development zones. The investment builds on ExxonMobil's September 2025 pledge to invest up to $10 billion in deep-water assets, including the Owo subsea tie-back project, and complements its plan to spend roughly $1 billion yearly on maintenance and another $1.5 billion to raise output by 50,000 bpd over the coming years. Meanwhile, NUPRC awarded 19 Petroleum Prospecting Licences to 12 firms from the 2022/2023 Mini Bid Round and 2024 Licensing Round, covering deep-water, shallow-water and onshore acreage.
With Nigeria pushing to revive upstream investment, will the Usan Infill Project's added output translate into meaningful revenue gains and improved fuel availability, or will operational and security challenges continue to limit gains?