• ExxonMobil will invest in developing Nigeria’s Usan deepwater oil field.
• The company will also accelerate development of Owowo and Erha deepwater oil fields.
ExxonMobil Corp. will invest in developing Nigeria’s Usan deepwater oil field, said the Nigerian Upstream Petroleum Regulatory Commission in a May 6 release.
ExxonMobil plans to invest $1.5 billion dollars between second-quarter 2025 and end-2027. The company proposed final investment decision (FID) in late third-quarter 2025, subject to final field development plan approval as well as internal and partner funding approvals. This investment is in addition to that already targeted at the accelerated development of Owowo and Erha deepwater oil fields (OGJ Online, Oct. 27, 2016, OGJ Online Feb. 26, 2024).
Usan is 110 km off southestern Nigeria in 800 m of water. The field was discovered in 2002 (OGJ Online Aug. 2, 2005).
Alex Procyk | Upstream Editor
Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).