Chevron to Expand in Nigeria with 2025 Licensing Round and 2026 Offshore Drilling Plans
Chevron has announced its intention to participate in Nigeria’s upcoming oil licensing round and plans to deploy a drilling rig in late 2026 as part of its strategy to expand operations in Africa’s largest oil producer.
Jim Swartz, Chairman and Managing Director of Chevron Nigeria/Mid-Africa Business Unit, highlighted the company’s aim to strengthen its presence in Nigeria, citing the clearer regulatory framework under the Petroleum Industry Act (PIA).
“We will join the next licensing round. We want to continue growing in Nigeria,” Swartz said after a meeting with the Nigerian upstream regulator.
Nigeria conducts licensing rounds to attract investment and boost oil production after years of limited spending. The 2025 round will make 50 fields available through a digital platform, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). TotalEnergies has also expressed interest in participating in the auction.
Chevron recently agreed to acquire a 40% stake in two offshore exploration licences—PPL 2000 and PPL 2001—from TotalEnergies. The company is now seeking regulatory approval to accelerate development of these assets.
Swartz added that Chevron plans to deploy a drilling rig in late 2026 to develop a new discovery near Agbami and extend leases on its existing assets.
He also noted that Chevron has not experienced any oil theft or sabotage in the past year, marking the longest period without operational disruptions in its Nigerian operations and reflecting improved security in the sector.
