The Erha Deepwater development, operated by ExxonMobil, has delivered substantial economic returns to Nigeria, generating more than $70 billion in value over the past two decades alongside cumulative production exceeding 800 million barrels of crude oil.
According to ExxonMobil Affiliates in Nigeria, the project has also contributed approximately $23 billion directly to the Federal Government, underscoring its significance as one of the country’s most productive offshore assets since it began operations.
These figures were disclosed by the Chairman and Managing Director of ExxonMobil Affiliates in Nigeria, Jagir Baxi, during a courtesy visit to the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, at the Ministry of Petroleum Resources in Abuja.
Baxi described the Erha FPSO (Floating Production Storage and Offloading facility) as a flagship deepwater asset that has maintained steady output for 20 years, crediting its success to operational discipline, advanced engineering capacity, and a strong safety culture in a technically demanding offshore environment.
He noted that beyond revenue generation, the project has contributed meaningfully to employment creation and capacity development within Nigeria’s oil and gas sector, with more than 95 per cent of its workforce drawn from the Nigerian talent pool. According to him, this reflects sustained investment in local content development and technical skills transfer over the life of the project.
Responding, Minister Ekperikpe Ekpo commended ExxonMobil for what he described as a landmark achievement in Nigeria’s deepwater operations, noting that the long-running success of Erha sets a benchmark for efficiency, resilience, and operational excellence in the sector.
He said the project’s performance over two decades demonstrates strong technical capability and consistency in a challenging offshore environment, while also contributing significantly to government revenues, employment, and broader national economic growth.
However, the minister used the occasion to reiterate government priorities around gas development, urging ExxonMobil to deepen its focus on integrating gas into its offshore operations. He stressed that Nigeria’s energy transition strategy requires a balanced emphasis on both oil and gas, particularly to expand domestic gas utilisation, strengthen export capacity, and improve revenue diversification.
“As we grow oil output, equal emphasis must be placed on gas development to support domestic utilisation, exports, and revenue growth,” Ekpo said, encouraging the company to scale up its gas-related investments in line with national objectives.
He further assured ExxonMobil of the Federal Government’s commitment to maintaining a stable and predictable investment environment, anchored on the Petroleum Industry Act, which continues to guide reforms in the oil and gas sector.
The minister also praised the company’s compliance with local content policies, highlighting that the Erha project currently operates with a workforce that is over 95 per cent Nigerian, a development he described as a strong model for skills development and in-country value retention in the upstream sector.