Shell assures Nigeria’s deep-water production will boost oil output

Shell Nigeria Exploration and Production Company Limited (SNEPCo) has assured that Nigeria's deep-water production will receive a significant boost, thanks to investments in projects like Bonga North. This deep-water project, valued at $5 billion, is expected to reach a peak production of 110,000 barrels of oil per day, with first oil anticipated by the end of the decade. 

According to Ronald Adams, Managing Director of SNEPCo, Nigeria's deep-water fields hold some of the world's most promising associated and non-associated gas reserves, with vast untapped potential. He emphasized the importance of a favorable investment climate to attract capital and innovation to develop these gas resources responsibly and sustainably. 

The Bonga North project involves drilling, completing, and starting up 16 wells, modifications to the existing Bonga Main FPSO, and the installation of new subsea hardware tied back to the FPSO. This project will sustain oil and gas production at the Bonga facility, which has already achieved a 1 billion barrels export milestone in 2023 

Shell's investment in Bonga North is a significant step towards boosting Nigeria's oil output and achieving energy security. With the right policies and investment climate, Nigeria can unlock its deep-water potential and drive economic development 

https://thenationonlineng.net/shell-assures-nigerias-deep-water-production-will-boost-oil-output/