By Abbas Nazil
US energy giant, Chevron, has announced plans to expand its operations in Nigeria, confirming it will participate in the country’s next oil licensing round and deploy a drilling rig by late 2026, in a move that signals renewed investor confidence in Africa’s leading oil producer.
Jim Swartz, chairman and managing director of Chevron Nigeria/Mid-Africa Business Unit, said the company is positioned for growth in Nigeria due to clearer regulatory conditions created by the Petroleum Industry Act (PIA).
He made this known after a meeting with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), noting that Chevron is committed to strengthening its long-term presence in the country.
Swartz stated that the company intends to bid in the 2025 licensing round, which will offer 50 oil fields through a digital platform as part of Nigeria’s broader strategy to revive investment after years of declining funding and output.
He disclosed that Chevron recently acquired a 40 percent stake in two offshore exploration licences, PPL 2000 and PPL 2001, from TotalEnergies, and is awaiting regulatory approval to accelerate field development.
Swartz said Chevron will bring in a drilling rig in late 2026 to explore a newly discovered resource near Agbami and to extend leases on existing assets, underscoring the firm’s growing commitment to offshore production.
He also pointed to improved security in the oil region, revealing that Chevron has recorded a full year without oil theft or sabotage, marking the longest disruption-free period in its Nigerian operations and a key factor supporting fresh investments.
Nigeria’s upstream regulator confirmed that other major players, including TotalEnergies, have expressed interest in the upcoming auction, which it hopes will boost production and attract new capital.
The renewed investor engagement aligns with Nigeria’s push to restore output levels, enhance transparency and modernize regulations under the PIA framework, positioning the country for stronger energy sector growth in the coming years.
