*Says country’s assets require cutting-edge technology
Peter Uzoho
American oil and gas giant, ExxonMobil, has said unlocking substantial value from Nigeria’s deepwater producing fields, undeveloped discoveries and yet-to-find resources will require cutting-edge technology and integrated workflows.
The Subsurface General Manager at Esso Exploration and Production Nigeria Limited, ExxonMobil’s Nigerian affiliate, Mr. Nathan Harts, stated this at the Technical/Business Meeting of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos.
The theme of the session was “From Seismic to Value: Leveraging Seismic Inversion & Forward Seismic Modeling in Geomodeling to Enable Field Development.”
Harts said ExxonMobil continues to deploy integration, cross-discipline behaviours and advanced technologies to cost-effectively develop its Nigeria portfolio.
“ExxonMobil continues to deploy those same behaviours, techniques, and technologies as we continue to cost-effectively develop the resources in Nigeria,” he said.
“At ExxonMobil, we do strongly believe that successful development does require challenging ourselves for cutting-edge technology and integrated workflows, and we remain committed to continuing to do that for the resources we develop here in Nigeria.”
“We believe that that will also unlock substantial value from the resources that are currently producing, those that have yet to be developed, and those that have yet to be discovered,” he added.
The drive aligns with ExxonMobil’s sharpened deepwater focus after its $1.28 billion onshore and shallow-water exit to Seplat in 2024, with capital now targeted offshore.
Last July, the company announced a $1biilion Final Investment Decision (FID) commitment focused on revitalizing Usan deepwater field where it holds 30 percent via Esso Exploration and Production Nigeria (Offshore East).
It is working with its partners to progress other assets in the deepwater to FID.
For ExxonMobil, Harts said developing Nigeria’s resources requires industry knowledge sharing.
“I do appreciate the esteemed officers of NAPE for pulling together meetings like this so that we can transfer knowledge as an industry. It is certainly a requirement for us to develop the Nigeria resources that we all have been blessed to develop,” he said.
“On behalf of ExxonMobil, I would like to express my sincere appreciation to Michael McGlashan (the paper presenter) for his time and commitment to bringing knowledge to this organization. As a proud sponsor of this event, we are honored to support initiatives that promote cross-industry collaboration, knowledge sharing, and professional development,” Harts added.