Chevron has strengthened its presence in Nigeria’s upstream petroleum sector after securing a new oil exploration licence in the country’s 2025 licensing round.
Chevron has strengthened its presence in Nigeria’s upstream petroleum sector after securing a new oil exploration licence in the country’s 2025 licensing round.
The award was made to Star Deep Water Petroleum Limited, a Chevron company and operator of the Agbami unit, which emerged successful in the competitive bid for Petroleum Prospecting Licence (PPL) 2010. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced the winners of the licensing round in Abuja on July 21, 2026. PRESS RELEASE – Chevron wins a bid in 2025 licensing round in Nigeria (1).docx
Chevron described the development as a significant milestone that aligns with its long-term strategy of expanding its global exploration portfolio through investment in high-potential assets.
Speaking on the award, Chevron’s Vice President of Exploration, Kevin McLachlan, said Nigeria remains a key part of the company’s global operations, adding that the new licence reflects Chevron’s disciplined approach to acquiring quality exploration assets.
He noted that the company would continue to evaluate promising exploration opportunities across its international portfolio while maintaining its commitment to operations in Nigeria. PRESS RELEASE – Chevron wins a bid in 2025 licensing round in Nigeria (1).docx
Also reacting, the Chairman and Managing Director of Chevron companies in Nigeria and the Mid-Africa region, Jim Swartz, commended the NUPRC and other stakeholders for the successful conduct of the licensing round.
He reaffirmed Chevron’s commitment to partnering with the Nigerian government and industry stakeholders to advance the development of the country’s oil and gas sector, stressing that the company remains dedicated to contributing to Nigeria’s economic growth through sustained investment. PRESS RELEASE – Chevron wins a bid in 2025 licensing round in Nigeria (1).docx
Chevron further stated that the award of PPL 2010 is consistent with its global exploration strategy, which combines technology-driven exploration, disciplined portfolio management and selective investment in high-potential opportunities.
The company added that it will continue to pursue exploration activities across Africa as part of efforts to build a diversified energy portfolio capable of meeting future global energy needs.
