Shell Pecten logo in colour - CMYK
SHELL GREENLIGHTS BONGA NORTH DEEP-WATER PROJECT OFF NIGERIA’S COAST
This page is supported by Shell Nigeria. Click here for more information
Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell plc, has announced a final investment decision (FID) on the Bonga North deep-water project, located off the coast of Nigeria.
The project, which involves drilling and completing 16 wells, modifications to the existing Bonga Main FPSO, and installation of new subsea hardware, is expected to sustain oil and gas production at the Bonga facility. Bonga North has an estimated recoverable resource volume of over 300 million barrels of oil equivalent (boe) and is anticipated to reach a peak production of 110,000 barrels of oil per day by the end of the decade.
According to Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director, “This is another significant investment, which will help us to maintain stable liquids production from our advantaged Upstream portfolio.”
The Bonga North project is operated by SNEPCo in partnership with Esso Exploration and Production Nigeria Ltd., Nigerian Agip Exploration Ltd., and TotalEnergies Exploration and Production Nigeria Ltd., on behalf of the Nigerian National Petroleum Company Limited (NNPC).
The investment in Bonga North is expected to generate an internal rate of return (IRR) in excess of the hurdle rate for Shell’s Upstream business, demonstrating the company’s commitment to delivering value through its upstream portfolio.
