Chevron has confirmed that it secured the winning bid for a deepwater oil block in Nigeria’s ongoing 2025 licensing round, reinforcing its commitment to expanding exploration activities in the country.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced on Tuesday that Star Deep Water Petroleum, a Chevron subsidiary and operator of the Agbami oil field, emerged as the highest bidder for Petroleum Prospecting Licence (PPL) 2010 during the commercial bid opening.

Chevron’s Vice President of Exploration, Kevin McLachlan, said Nigeria remains a strategic part of the company’s global portfolio, adding that the company continues to assess high-potential exploration opportunities worldwide.

He noted that the successful bid reflects Chevron’s long-term interest in Nigeria’s upstream sector and its confidence in the country’s deepwater resource potential.

Also commenting, Chairman of Chevron Companies in Nigeria and Mid-Africa, Jim Swartz, said the company remains committed to working closely with the Federal Government and its industry partners to support the development of Nigeria’s oil and gas resources.

According to him, Chevron’s continued investment is aimed at contributing to the growth of the country’s energy industry while supporting broader economic development.

The award comes as Nigeria advances its 2025 oil licensing round, which is expected to attract new investment into the upstream sector and boost exploration activities, particularly in offshore acreage.