ExxonMobil is attracting fresh recognition in Nigeria’s oil and gas industry after committing $1 billion to the development of the Usan Infill Project, an offshore project expected to increase Nigeria’s crude oil production by about 40,000 barrels per day.
The investment, announced in July 2026, marks an important return to drilling activity for ExxonMobil’s Nigerian affiliate, Esso Exploration and Production Nigeria. The company’s last drilling activity in the area was in 2016.
The Usan Infill Project is located in Oil Mining Lease 138, one of Nigeria’s deepwater oil assets. The project is expected to make use of existing infrastructure around the Usan field, helping the company recover additional oil from the field.
For Nigeria, the investment comes at an important time.
The country has been working to increase crude oil production and attract fresh capital into an industry that remains a major source of government revenue and foreign exchange. An additional 40,000 barrels per day would therefore be a meaningful contribution if the project reaches its expected production target.
The investment also sends a positive signal about the future of Nigeria’s deepwater oil industry.
ExxonMobil has operated in Nigeria for decades and has developed major offshore assets, including Usan and Erha. The company is now looking at further opportunities to increase production from its Nigerian deepwater portfolio.
Beyond the Usan project, ExxonMobil is also considering major developments in fields such as Owowo and Bosi. Reports indicate that the company is working towards further investment decisions on these deepwater opportunities, potentially creating another wave of activity in Nigeria’s offshore oil sector.
The renewed investment is also coming as Nigeria introduces measures aimed at making offshore oil and gas projects more attractive to investors. In August 2026, the Nigerian government approved a new deepwater investment framework designed to unlock more capital for offshore developments. The government says the framework could attract up to $50 billion in investment.
ExxonMobil’s decision to commit substantial capital to the Usan project therefore arrives at a significant moment for the industry.
It demonstrates confidence in Nigeria’s deepwater resources and provides a potential boost to production, local economic activity and the wider oilfield services industry.
Bitsog Oil & Gas Accolades recognises ExxonMobil for its renewed investment in Nigeria’s deepwater oil sector. The $1 billion Usan Infill Project represents a significant commitment to increasing domestic oil production and supporting the continued development of Nigeria’s offshore petroleum industry.
