Shell Announced FID on Deepwater Project Off Nigeria Coast

SEATTLE (Oil Monster): The Shell Nigeria Exploration and Production Company Limited (SNEPCo), a Nigerian subsidiary of Shell plc, declared that it has reached a final investment decision (FID) on the deep-water project Bonga North, which is located off the coast of Nigeria. It should be mentioned that the Bonga Floating Production Storage and Offloading (FPSO) facility is operated by Shell to the tune of 55%.

Eight producing and eight water injection wells make up the 16 wells of the Bonga North project. Along with installing new subsea hardware connected to the FPSO, it also entails alterations to the current Bonga Main FPSO. The project's goal is to keep the facility producing gas and oil. The first output is expected by the end of this decade, and the project predicts a peak production of 110,000 barrels of oil per day.

Shell's Integrated Gas and Upstream Director, Zoe Yujnovich, commented on the news, saying that the business would be able to sustain its steady liquids production from its advantageous Upstream portfolio thanks to the substantial investment in the Bonga North project. The Bonga North development holds estimated recoverable resource volumes of more than 300 million barrels of oil equivalent (boe), Zoe added.

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