FG rakes in $70bn from ExxonMobil Erha Deepwater Project

ExxonMobil

ExxonMobil

 

By Adewale Sanyaolu

The Chairman/Managing Director of ExxonMobil Affiliates in Nigeria, Mr. Jagir Baxi, has disclosed that the Erha Deepwater project has, over 20 years, generated over $70 billion in value, including about $23 billion to the Federal Government.

Baxi stated this when he led the Board of ExxonMobil Nigeria and its affiliates, ESSO Exploration and Production Nigeria Limited(EEPNL), on a courtesy visit to the Minister of State Petroleum Resources (Gas) Mr. Ekperikpe Ekpo, at the Ministry of Petroleum Resources, NNPC Towers, Abuja.

The ExxonMobil boss added that the project has driven job creation, strengthened local content, and is currently operated by a workforce that is over 95 per cent Nigerian, while also commending the Minister’s leadership in advancing Nigeria’s gas development agenda.

In his remarks, Ekpo commended ExxonMobil for sustaining 20 years of production at the Erha Floating Production Storage and Offloading (FPSO) facility, describing the achievement as a benchmark in Nigeria’s deepwater operations.

He said the two-decade operation reflects exceptional technical expertise, a strong safety culture, and consistent operational discipline in a challenging offshore environment.

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

Ekpo noted that the ERHA project has significantly contributed to national revenue, job creation, and local capacity development, positioning it as a model for sustainable deepwater production.

He, however, urged ExxonMobil to align its operations with Nigeria’s gas development priorities by integrating gas into offshore activities and to intensify efforts in gas development to boost domestic utilisation, exports, and revenue generation.

“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 commended the company’s adherence to local content requirements, noting that over 90 per cent of its workforce are Nigerians with critical industry expertise.

He further reassured ExxonMobil of the Federal Government’s commitment to a stable investment climate, anchored on the Petroleum Industry Act.

EEPNL entered Nigeria’s deepwater frontier in May 1993, when it acquired exploration rights to Offshore OPL 209 (later converted to OML 133). At the time, Nigeria had limited footprint in deepwater operations, fabrication, subsea systems, or FPSO‑based production.

By start‑up, Erha had recorded over 1.7 million contract man‑hours worked in Nigeria, with Nigerians making up 85 per cent of FPSO operations personnel, while hundreds received specialized fabrication, subsea, and offshore training.

After training completion, EEPNL conducted approximately 800 competency assessments across 90 critical operating procedures, ensuring that Nigerian personnel could safely operate and maintain the FPSO and subsea systems.

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