Nigeria Receives $23bn From ERHA Deepwater Operations – ExxonMobil

The Government of Nigeria has received about $23 billion from the ERHA deepwater operations.

According to the managing director and chairman of ExxonMobil affiliates in Nigeria, Jagir Baxi, the ERHA Deepwater project has generated more than $70 billion in value over the past two decades.

Baxi noted that the project has produced over 800 million barrels of crude oil within this period. He emphasised that beyond revenue, the initiative has significantly boosted employment opportunities and enhanced local capacity, with Nigerians accounting for over 95 per cent of the workforce.

He also praised the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, for his leadership in advancing Nigeria’s gas development agenda.

Baxi made these remarks during a courtesy visit by the Board of ExxonMobil Nigeria and its affiliate, ESSO Exploration and Production, to the Minister at the Ministry of Petroleum Resources, located at NNPC Towers in Abuja.

In a statement issued on Friday by the Minister’s spokesman, Louis Ibah, Ekpo commended ExxonMobil for sustaining operations at the ERHA Floating Production Storage and Offloading facility for 20 years. He described the achievement as a benchmark for deepwater oil operations in Nigeria.

According to him, the longevity of the project highlights exceptional technical expertise, a strong safety culture, and consistent operational discipline despite the challenges of offshore production.

He said, “This milestone represents a remarkable demonstration of resilience, efficiency, and long-term commitment to Nigeria’s energy sector.”

Ekpo further observed that the ERHA project has played a crucial role in boosting national revenue, generating employment, and building local technical capacity, positioning it as a model for sustainable deepwater production.

However, he urged ExxonMobil to align more closely with Nigeria’s gas development priorities by incorporating gas-focused strategies into its offshore operations.

He stressed the importance of expanding gas development efforts to enhance domestic supply, increase exports, and drive revenue growth.

“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 acknowledged the company’s compliance with local content policies, noting that over 95 per cent of the ERHA workforce consists of Nigerians with vital industry expertise.

He reassured the company of the Federal Government’s commitment to maintaining a stable and investor-friendly environment, anchored on the provisions of the Petroleum Industry Act.