ExxonMobil’s Erha Deepwater project has generated over $70bn in value, including about $23bn remitted to the Federal Government, from more than 800 million barrels of crude oil produced over the past 20 years.
This was disclosed by the Chairman/Managing Director of ExxonMobil Affiliates in Nigeria, Jagir Baxi, when he led a delegation to pay a courtesy visit to the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, at the Ministry of Petroleum Resources, Abuja, on Thursday.
The minister, while urging ExxonMobil to increase gas development, commended it for sustaining 20 years of production at the Erha Floating Production Storage and Offloading facility.
In a statement on Friday, Ekpo described the 20-year achievement as a benchmark in Nigeria’s deepwater operations. He said the two-decade operation reflects exceptional technical expertise, a strong safety culture, and consistent operational discipline in a challenging offshore environment.
“This milestone represents a remarkable demonstration of resilience, efficiency, and long-term commitment to Nigeria’s energy sector,” the minister said.
Ekpo noted that the Erha project has significantly contributed to national revenue, job creation, and local capacity development, positioning it as a model for sustainable deepwater production.
He, however, urged ExxonMobil to align its operations with Nigeria’s gas development priorities by integrating gas into offshore activities and to intensify efforts in gas development to boost domestic utilisation, exports, and revenue generation.
“As we grow oil output, equal emphasis must be placed on gas development to support domestic utilisation, exports, and revenue growth,” he stated.
The minister also commended the company’s adherence to local content requirements, noting that over 95 per cent of the Erha workforce in Nigeria are Nigerians with critical industry expertise.
He further reassured ExxonMobil of the Federal Government’s commitment to a stable investment climate, anchored on the Petroleum Industry Act.
Earlier in his speech, the Chairman/Managing Director of ExxonMobil Affiliates in Nigeria, Baxi, said, “The Erha Deepwater project has, over 20 years, produced more than 800 million barrels of crude oil, generating over $70bn in value, including about $23bn to the Federal Government.”
Baxi added that the project has driven job creation and strengthened national content and is currently operated by a workforce that is over 95 per cent Nigerian, while also commending the minister’s leadership in advancing Nigeria’s gas development agenda.
🚨 BREAKING: Watch the full clip here ➤
