ExxonMobil’s Erha Deepwater project has reportedly generated over $70 billion in value over the past two decades, with about $23 billion remitted to the Federal Government of Nigeria.
The disclosure was made by Jagir Baxi, Chairman and Managing Director of ExxonMobil Affiliates in Nigeria, during a courtesy visit to the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, in Abuja on Thursday.
According to him, the Erha field has produced more than 800 million barrels of crude oil within 20 years of operation, making it one of the major contributors to Nigeria’s deepwater oil output.
Minister Ekperikpe Ekpo praised the project’s long-term performance, describing its two decades of production at the Erha Floating Production Storage and Offloading facility as a significant achievement in Nigeria’s offshore energy sector. He noted that the project reflects strong technical capacity, operational efficiency, and adherence to safety standards in a challenging environment.
He further stated that the project has contributed substantially to national revenue, job creation, and local content development, calling it a model for sustainable deepwater operations in the country.
However, the minister urged ExxonMobil to place greater focus on gas development, stressing the need to align offshore operations with Nigeria’s broader gas utilisation and export goals. He emphasized that expanding gas production is key to increasing domestic supply, boosting exports, and improving national revenue.
Ekpo also commended the company’s compliance with local content policies, highlighting that over 95 percent of the workforce on the Erha project are Nigerians with industry expertise. He assured the company of the government’s commitment to maintaining a stable and investor-friendly environment under the Petroleum Industry Act.
Baxi, in his remarks, reaffirmed ExxonMobil’s commitment to Nigeria, noting that the project has supported employment, strengthened local capacity, and maintained a predominantly Nigerian workforce.
