Chevron said on Friday it will participate in Nigeria’s next oil licensing round and plans to deploy a drilling rig in late 2026 as it seeks to expand operations in Africa’s top energy producer.

Jim Swartz, chairman and managing director of Chevron Nigeria/Mid-Africa Business Unit, said the company aims to grow its footprint in Nigeria, citing improved regulatory clarity under the Petroleum Industry Act (PIA).

“We will participate in the next licensing round. Our intention is to continue to grow in Nigeria,” Swartz told reporters after meeting the upstream regulator.

Nigeria’s licensing rounds are part of efforts to attract investment and boost output after years of underinvestment.

The 2025 round will offer 50 fields through a digital platform, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said.

TotalEnergies has also expressed interest in joining an auction.

Chevron recently agreed to acquire a 40% stake in two offshore exploration licences, PPL 2000 and PPL 2001, from TotalEnergies and is seeking regulatory approval to accelerate development.

Swartz said it plans to bring in a rig in late 2026 to drill a newly discovered resource near Agbami and extend leases on existing assets.

Swartz added that Chevron had recorded no oil theft or sabotage in the past year, the longest period without disruptions in its Nigerian operations, a sign of improved security in the sector. (BusinessDay)

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