Chevron said it will take part in Nigeria’s upcoming oil licensing round and plans to deploy a drilling rig in late 2026 as it looks to expand in Africa’s leading energy producer.
Jim Swartz, chairman and managing director of Chevron Nigeria/Mid-Africa Business Unit, said the company wants to increase its presence in Nigeria, pointing to clearer rules under the Petroleum Industry Act (PIA).
“We will join the next licensing round. We want to keep growing in Nigeria,” Swartz told reporters after meeting the upstream regulator.
Nigeria runs licensing rounds to attract investment and increase production after years of limited spending. The 2025 round will make 50 fields available through a digital platform, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said.
TotalEnergies has also shown interest in participating in the auction.
Chevron recently agreed to buy a 40% stake in two offshore exploration licences, PPL 2000 and PPL 2001, from TotalEnergies and is seeking approval from regulators to speed up development.
Swartz said the company plans to bring a rig in late 2026 to drill a new discovery near Agbami and extend leases on current assets.
He also noted that Chevron has not experienced any oil theft or sabotage in the past year, marking the longest period without disruption in its Nigerian operations and showing better security in the sector.
source: www.reuters.com
African Energy Council