Nigeria Earns $70 Billion from ExxonMobil's Erha Project

Nigeria has generated $70 billion from ExxonMobil's Erha deepwater project, which has produced 800 million barrels of crude oil over the past 20 years. Jagir Baxi, the Chairman and Managing Director of ExxonMobil's affiliate in Nigeria, disclosed this during a courtesy visit to the Minister of State for Petroleum Resources, Gas Ekperikpe Ekpo, in Abuja.

The Minister urged ExxonMobil to increase gas development and sustain the achievements of the Erha project, which has been a benchmark for Nigeria's deepwater operations. Ekpo emphasized the project's role in contributing to national revenue, job creation, and local capacity development, while also calling for alignment with Nigeria's gas development priorities.

He noted that 95% of the Erha workforce is Nigerian, highlighting the company's adherence to local content requirements. Baxi reiterated the project's commitment to job creation and strengthening national content, commending the Minister's leadership in advancing Nigeria's gas development agenda.