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 between second-quarter 2025 and end-2027. The company proposed final investment decision (FID) late in 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.
Usan lies 110 km off southeastern Nigeria in 800 m of water. The field was discovered in 2002
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).
