Shell Nigeria Invests $10 Billion in Bonga North Project
Shell Nigeria Exploration and Production Company (SNEPCo) has approved a $10 billion investment in the Bonga North deepwater project, aiming to maintain operations at its Bonga floating production, storage and offloading (FPSO) facility. The project will see the company drill 16 wells – eight production wells and eight injection wells – and upgrade subsea infrastructure to connect to the FPSO. The project will also involve Shell retrofitting the Bonga Main FPSO. Bonga North is expected to produce more than 300 million barrels of oil equivalent, with a target of peak production of 110,000 barrels per day by 2030. The Bonga North plant, operated by SNEPCo with partners including TotalEnergies and NNPC, has been a cornerstone of Shell’s operations in Nigeria. The facility began operations in 2005 and has a production capacity of 225,000 barrels of oil per day. In 2023, it produced its billionth barrel of oil, marking an important milestone.
source: saharareporters
