Chevron is set to participate in Nigeria’s upcoming oil licensing round and advance its drilling programme with a rig deployment scheduled for late 2026, signaling renewed investment momentum in Africa’s largest oil producer. The company’s Nigeria and Mid-Africa Business Unit chairman confirmed the plans during a visit to the Nigerian Upstream Petroleum Regulatory Commission, as reported by Reuters.
Nigeria’s new licensing round, which will offer 50 oil blocks through a fully digital auction, is part of a broader push to revive exploration after years of declining investment. The regulator’s announcement earlier this month highlighted the round as a key mechanism for unlocking fresh upstream activity under the country’s Petroleum Industry Act, according to industry disclosures.
Chevron has recently strengthened its footprint in the country by securing a 40 percent stake in two offshore exploration licences, PPL 2000 and PPL 2001. The stake was acquired through a farm-out deal with TotalEnergies, which will remain operator with its own 40 percent interest, while a local partner holds the remaining share. The agreement, as stated in reports on sector developments, positions the company to deepen its exploration portfolio in the West Delta basin.
The planned rig deployment will focus on newly identified prospects around existing assets, including zones near the Agbami field, and is expected to support lease renewals on older concessions. Chevron’s leadership noted that the company’s investment appetite reflects growing confidence in Nigeria’s regulatory stability and resource potential under recent reforms, as indicated in discussions referenced by Reuters.
Industry analysts view Chevron’s commitments as a significant boost for Nigeria’s upstream outlook, underscoring a shift toward greater participation by major international operators as the country seeks to rebuild production capacity and attract long-term capital.
