The Managing Director and Lead Country Manager of ExxonMobil Nigeria, Jagir Baxi has revealed that the $1bn Usan infill project is now in its execution phase.
The $1bn Usan infill project is expected to add 40,000 barrels per day to the country’s oil production as the government seeks to raise output to three million barrels per day by 2030.
Speaking during the Invest in Nigeria panel at African Energy Week 2026 in Cape Town, South Africa, Baxi said the project had entered the execution phase, with a drilling rig deployed to the Usan field since July.
Baxi said the investment followed the resolution of longstanding issues relating to production-sharing contracts and the application of presidential directives introduced in 2024 on local content.
The Oil and Gas Chief said wider reforms were needed to accelerate production growth, while other participants highlighted the importance of regulatory certainty, security and faster project delivery.
Also speaking, Arthur Ename, Vice President for Africa at NOV said delays often resulted from poor coordination between contractors rather than a lack of available technology.
He urged operators to book manufacturing slots early and offer suppliers longer-term contracts to allow service companies to plan investments and prepare equipment ahead of demand.
