Exxon to Invest $1.5 Billion in Deepwater Oilfields in Nigeria

U.S. supermajor ExxonMobil plans to invest as much as $1.5 billion in deepwater oil and gas exploration and development offshore Nigeria, the local regulator, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has said. Exxon sold last year its onshore assets to local firm Seplat Energy, but is committed to offshore exploration and development in the country. At the end of 2024, Nigeria’s regulators finally approved – after two years – Seplat Energy’s proposed acquisition of Mobil Producing Nigeria Unlimited…