By|| Goodluck E. Adubazi || Abuja
This year’s National International Energy Summit provides ExxonMobil the opportunity to unveil its investment plans to the public, Bala Wudiri, General Manager of Public and Government Affairs at ExxonMobil, alongside senior executives including Chief Financial Officer Kevin received Nigeria’s Minister of State for Petroleum Resources, Hon. Heineken Lokpobori, during a ministerial tour of ExxonMobil’s exhibition stand at the 2026 Nigerian International Energy Summit (NIES).
Welcoming the minister, ExxonMobil executives praised what they described as the “transformational leadership” driving renewed investor confidence in Nigeria’s oil and gas sector. The company used the occasion to outline its near-term and mid-term operational plans, signaling a strong commitment to expanding production and delivering greater value to the Nigerian economy.
Speaking on current operations, Wudiri explained that ExxonMobil’s assets are divided between producing fields and those still under development. He noted that while some assets have been producing for over three years, continuous development efforts are underway to maximize output and increase national revenue.
He highlighted the completion of key engineering projects carried out ahead of schedule and under budget, achieved by deploying ExxonMobil’s global technical expertise.
These projects, he said, now underpin increased drilling activity across the company’s operations.
Wudiri further disclosed plans for a significant investment in an upcoming intervention project scheduled for later in the year, valued at approximately $1 million, which is expected to nearly double production capacity.
Additional well work, facility upgrades, and maintenance operations are also ongoing to ensure operational efficiency and long-term sustainability.
Providing a mid-term outlook, CFO Kevin emphasized the strategic importance of a major deepwater discovery made in 2012, describing it as one of ExxonMobil’s most promising assets in Nigeria.
He noted that improved fiscal incentives, competitive project structuring, and strong collaboration with government authorities have significantly enhanced the project’s viability.
“With the right leadership and administration, we have made this project competitive,” he said. “We are now looking at a potential $10 billion investment by 2027, working closely with NNPC leadership to align contracting strategies, shorten project timelines, and strengthen local content participation.”
According to ExxonMobil, the development could eventually yield production of more than 50,000 barrels per day, leveraging the existing Bonga FPSO, which has a processing capacity exceeding 200,000 barrels per day.
“This is the next big thing for us,” Kevin stated. “We are fully focused on delivering it. Our goal is a win-win outcome—when Nigeria wins, we win. That is the only sustainable path forward.”
In response, Hon. Heineken Lokpobori reaffirmed the Federal Government’s strong interest in attracting large-scale investments into the sector, including projects valued at up to $35 billion, and pledged continued collaboration to ensure Nigeria remains a competitive destination for global energy capital.
