ExxonMobil has doubled down on its deepwater investment drive in Nigeria, following the multinational oil giant’s recent development plan to ramp up production across its operating offshore assets.
Weatherford was awarded a deepwater integrated completions contract by Esso Exploration & Production Nigeria Ltd. (EEPNL), an ExxonMobil affiliate, for offshore Nigeria. The company disclosed without specifying the financial commitment to the project.
The contract falls within Weatherford’s Well Construction and Completions portfolio. Weatherford will provide integrated upper- and lower-completion solutions for deepwater wells, with a scope focused on supporting safety, reliability, well integrity, and operational efficiency throughout the well’s lifecycle.
The integrated completions equipment will be configured and prepared through Weatherford’s global supply chain and supported locally in Nigeria, in line with contract terms, to enable in-country execution and service delivery.
The Weatherford well construction and completion contracts are coming amid ExxonMobil’s previous plans to invest up to $24 billion in offshore oil developments in Nigeria, involving Bosi and Owowo fields. The two projects account for most of the planned spending.
ExxonMobil’s estimated investment plan for the Bosi field is between $15 billion and $16 billion, and the Owowo project is between $7 billion and $8 billion. ExxonMobil also plans additional drilling at the Usan field while advancing the Owowo project, which holds around one billion barrels of resources.
A final investment decision on Owowo is expected by early next year. During a meeting with Nigeria’s oil regulator in April 2026, ExxonMobil Vice President for Deepwater Operations Hunter Farris said the company was “back in business” in the country. At the time, he pointed to what he described as an improved investment climate in Nigeria.
According to Jagir Baxi, Lead Country Manager of ExxonMobil Nigeria, the Owowo and Bosi fields are expected to produce a significant volume of gas when they come onstream, as both fields progress through the developmental stage to achieve first gas.
The Owowo project includes a gas pipeline as part of its development plan. If the project reaches Final Investment Decision, ExxonMobil plans to deliver gas to shore. He notes that Bosi presents a more complex development challenge than Owowo.
Baxi says ExxonMobil aims to produce up to 100 million cubic feet of gas per day from Owowo. According to him, the field contains more gas than Usan or Erha, making it important for the company to monetize the resource alongside oil production.
