07-05-2025
Nigeria Says Exxon Commits $1.5 Billion to Deepwater Development
Exxon Mobil Corp. plans to invest $1.5 billion in a deepwater oil field in Nigeria as Africa's top producer looks to boost output, according to the nation's regulator.
The investment, expected within the next two years, will focus on reviving production in the Usan field and is in addition to funding earmarked for planned developments in Owowo and Erha, the Nigerian Upstream Petroleum Regulatory Commission said in a statement Tuesday, citing a visit by Shane Harris, Exxon's managing director in Nigeria.
