Exxon Mobil Corp has proposed a significant $10 billion investment in its offshore oil operations within Nigeria, according to a presidential spokesperson. This move signals a renewed investment push by the energy major in the West African nation.
The proposed capital injection is aimed at enhancing and expanding ExxonMobil's deepwater activities, which are crucial for future oil production volumes. Such a large-scale investment underscores the company's strategy to focus on advantaged assets globally.
This development is expected to contribute to Nigeria's energy sector and could bolster ExxonMobil's long-term production profile. The investment highlights the company's ongoing commitment to its upstream growth strategy in key international markets.
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