Shell Nigeria Announces Final Investment Decision for Bonga North Deep-Water Project

Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell plc, recently announced a final investment decision (FID) for the Bonga North deep-water project, located off the coast of Nigeria.

EDITOR’S PICKS 

• PDP Declares Ethiope East Federal Seat Vacant Following Ibori-Suenu’s Defection to APC
• Retired Principals Call for Recognition and Better Welfare from Government
• BREAKING: IGP Egbetokun Orders Major Shake-Up, Deploys New AIG to Lagos FCID Annex

The project is expected to unlock approximately 350 million barrels of oil equivalent of Nigerian oil reserves, extending the life of the Shell-operated Bonga Floating Production, Storage, and Offloading (FPSO) vessel for an additional 15 years.

 

 

Bonga North will be developed as a subsea tie-back to the Bonga FPSO facility, which is operated by Shell with a 55% interest.

The project entails drilling, completing, and starting up 16 wells, including 8 production and 8 water injection wells. Additionally, modifications to the existing Bonga Main FPSO and the installation of new subsea hardware tied back to the FPSO will be carried out.

With an estimated recoverable resource volume of over 300 million barrels of oil equivalent (boe), Bonga North is set to reach a peak production of 110,000 barrels of oil per day, with first oil anticipated by the end of a specified timeline.

The Bonga North project involves drilling, completing, and starting up 16 wells (8 production and 8 water injection wells), modifications to the existing Bonga Main FPSO and the installation of new subsea hardware tied back to the FPSO.

The project will sustain oil and gas production at the Bonga facility.

Bonga North currently has an estimated recoverable resource volume of more than 300 million barrels of oil equivalent (boe) and will reach a peak production of 110,000 barrels of oil a day, with first oil anticipated by the end of the decade.

FURTHER READING

• Ensure Available Of Naira Notes Nationwide -Shettima Tasks Banks
• Alleged Mass Killings: NHRC Seeks Justice For Victims
• Federal Government Allocates N700bn for Free Meter Distribution

 

“This is another significant investment, which will help us to maintain stable liquids production from our advantaged Upstream portfolio,” said Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director.

Bonga North will help ensure Shell’s leading Integrated Gas and Upstream business continues to drive cash generation into the next decade.

Click here to watch our video of the week: