ExxonMobil has outlined plans for a $10bn investment in offshore oil operations in Nigeria, a presidential spokesperson said citing company executives, reported Reuters. The investment proposal was made public during discussions between Nigeria's Vice-President Kashim Shettima and Exxon's Nigeria operations CEO Shane Harris.

The cooperation between ExxonMobil and Mitsubishi would 'develop low-carbon hydrogen and ammonia supply chains that will bridge the United States and Japan'.

The company also plans to invest around US$2.5 billion/y to enhance oil production by 50 000 bpd over the next few years.

Exxon Mobil Corp has proposed a $10 billion investment in offshore oil operations in a new investment push in Nigeria, a presidential spokesperson said on Thursday, citing company executives.

Exxon Mobil Corp. is considering investing as much as $10 billion in Nigeria’s offshore oil industry over the coming years, despite finalizing the sale of shallow-water assets to a local firm, the country’s government said.