Chairman and Managing Director of ExxonMobil Affiliates in Nigeria, Shane Harris, said ExxonMobil has concluded plans to invest $10 billion in Nigeria’s deep offshore.

The company also plans to invest around US$2.5 billion/y to enhance oil production by 50 000 bpd over the next few years.

Vice President Kashim Shettima has welcomed ExxonMobil’s proposed $10bn investment in Nigeria’s deep-water oil operations, describing it as a testament to the administration’s economic reforms and investment-friendly policies.

Vice President Kashim Shettima has welcomed ExxonMobil's proposed $10 billion investment in Nigeria's deep-water oil operations, describing it as a clear testament to the administration's economic reforms and investment-friendly policies.

The Federal Government said it welcomes oil major, ExxonMobil’s plan to invest $10 billion in Nigeria’s deep-water (offshore) oil operations.

ExxonMobil has announced plans to invest $10 billion in Nigeria’s deep-water oil operations.

Vice President Kashim Shettima has warmly welcomed ExxonMobil’s proposed $10 billion investment in Nigeria’s deep-water oil sector, emphasizing that it underscores the administration’s economic reforms and investment-friendly policies.

This potential investment by ExxonMobil aligns perfectly with the President Bola Tinubu administration’s vision for a more investment-friendly Nigeria,” Mr Shettima said.

The company also plans to invest around $2.5bn annually to enhance oil production by 50,000 barrels per day (bpd) over the next few years.

Exxon Mobil Corp. is considering investing as much as $10 billion in Nigeria’s offshore oil industry over the coming years, despite finalizing the sale of shallow-water assets to a local firm, the country’s government said.

Exxon Mobil Corp has announced plans for a $10 billion investment in offshore oil operations as part of a renewed push in Nigeria, Africa's fourth largest economy. ・Exxon Mobil plans a $10 billion investment in offshore oil operations in Nigeria.