Nigeria, others target 10 new offshore projects ahead of drilling boom

• Ahead of the expected roar successful crude lipid drilling, Nigeria and different African countries are acceptable to motorboat offshore projects
• The projection from the adept study is that 10 specified projects volition beryllium launched wrong the adjacent fewer years
• There are besides projections that Nigeria volition pb the revolution, fixed the awesome reserves

Legit.ng journalist Ruth Okwumbu-Imafidon has implicit a decennary of acquisition successful business reporting crossed integer and mainstream media.

At slightest 10 caller offshore drilling projects are acceptable to statesman successful Nigeria, Ivory Coast, and Mozambique betwixt 2026 and 2027, marking a important boost for Africa’s deepwater lipid and state sector.

This penetration comes from a study by Upstream Online, citing caller updates from 2 of the world’s largest offshore drilling companies, Transocean and Valaris.

The drilling contractors, known for their expertise successful deepwater exploration and production, highlighted that planetary lipid companies are progressively focusing connected Africa’s vast, underutilized offshore resources.

For 2025, Nigeria has a people to instrumentality crude accumulation supra 2 cardinal barrels daily. Photo credit: Pius Utomi Ekpei
Source: Getty Images

The study emphasized that the continent is present generating the types of opportunities planetary drillers person agelong anticipated.

Investors, stakeholders stay bullish connected crude lipid production

During net calls, some Transocean and Valaris shared their bullish outlook connected Africa, highlighting the region’s increasing value for drillship and semi-submersible rig contracts, the PUNCH reports.

Matt Lyne, Senior Chief Commercial Officer astatine Valaris, stated that Offshore Africa remains the astir progressive country for aboriginal opportunities, adding that companies are looking astatine semipermanent projects successful Nigeria and different countries.

Industry experts accidental this caller question of offshore enactment reflects renewed capitalist assurance successful Africa's offshore basins.

While precocious superior expenditure and analyzable engineering needs person historically deterred immoderate players, the caller emergence successful planetary energy demand, coupled with improved economics for deepwater operations, is attracting planetary lipid companies backmost to the region.

Nigeria, Africa’s apical lipid producer, is astatine the forefront of this resurgence. Ivory Coast is rapidly gaining traction aft caller lipid discoveries, portion Mozambique is cementing its spot connected the representation with sizable offshore earthy state reserves.

Meanwhile, oil prices person declined to the lowest successful 4 years connected the heels of expanding production.

Nigeria acceptable to pull overseas investments

These developments are expected to pull large overseas nonstop investment, substance occupation creation, and heighten method capableness crossed section communities.

As offshore operations ramp up, Africa, peculiarly the trio of Nigeria, Ivory Coast, and Mozambique, is positioning itself arsenic a captious subordinate successful the planetary vigor transition, particularly arsenic nations look to diversify proviso chains and pat into much secure, large-scale reserves.

Ronald Adams, Managing Director of Shell Nigeria Exploration and Production Company Ltd. (SNEPCo), precocious expressed assurance that the deepwater drilling would propulsion Nigeria implicit the 2.4 cardinal bpd target.

The caller summation successful crude lipid accumulation globally has been a root of interest for Nigeria, arsenic the accrued proviso translates to little prices. Photo credit: Kola Sulaimon/Contributor
Source: Getty Images

He noted that Nigeria’s deepwater reserves person precocious accumulation imaginable for crude lipid and state fields to enactment the country’s thrust to cleanable vigor solutions.

Many planetary lipid companies, including Shell and Chevron, are moving distant from shallow h2o accumulation due to the fact that of the diminution caused by crude lipid theft to offshore drilling, wherever operations are amended secured from pipeline vandalism.

Nigeria increases crude lipid accumulation

Legit.ng earlier reported that Nigeria's crude lipid accumulation accrued successful the archetypal 3 months of 2025.

New information from NUPRC showed that contempt existent challenges successful planetary prices, respective countries proceed to patronise Nigerian crude oil.

The database of top buyers successful 2024 includes 10 countries, including the Netherlands, Canada, Spain, France, and Indonesia.

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Source: Legit.ng