ExxonMobil Invests In Further Exploration

 19th FEB 2007

Energy giant ExxonMobil is investing $10-billion in its exploration activities in Nigeria in the next four years.  The company which produces an average of 800,000 barrels of oil per day in Nigeria is investing massively in its gas projects with the aim of adding value to the gas and stopping flaring by next year.  Exxonmobil which recently undertook two rounds of investment including $600million satellite financing in the last one year with the participation of Nigerian banks also said that it would support the government and the oil and gas industry to develop the Nigerian content in the oil industry.

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