KEY POINTS
- Shell’s Bonga North project targets 110,000 barrels per day peak output, with recoverable resources exceeding 300 million barrels of oil equivalent.
- The project involves 16 wells, subsea equipment, and FPSO updates, emphasizing Shell’s commitment to maintaining stable upstream production.
- Bonga North will contribute to Nigeria’s economic growth, job creation, and energy output, reinforcing its position as Africa’s top oil producer.
Shell Nigeria Exploration and Production Company Limited (SNEPCo), part of Shell plc, has made a final investment decision (FID) for the Bonga North deep-water project, signifying an important move to maintain oil production off Nigeria’s shoreline.
Bonga North will connect to the Shell-operated Bonga Floating Production Storage and Offloading (FPSO) unit, in which Shell has a 55 percent operational stake.
Essential characteristics of the project
The project includes drilling, finishing, and starting 16 wells, consisting of eight production and eight water injection wells.
Moreover, the project will entail updates to the current Bonga FPSO and the setup of new subsea equipment to link the wells to the installation.
Bonga North, with a projected recoverable resource volume exceeding 300 million barrels of oil equivalent (boe), is anticipated to reach a peak production of 110,000 barrels of oil daily by the decade’s end.
Shell’s dedication to stability in oil and gas
“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 aligns with Shell’s strategy to sustain its global Integrated Gas and Upstream business while driving long-term cash generation.
Economic and regional impact
The project underscores Shell’s commitment to Nigeria, Africa’s largest oil producer, and highlights its role in deep-water oil exploration.
Bonga North is expected to support regional economic growth, create jobs, and maintain Nigeria’s critical energy output.
With oil being a vital part of Nigeria’s economy, the development of Bonga North represents a continued effort to maximize the country’s offshore resources while contributing to global energy markets.
First oil from the Bonga North project is anticipated before the decade ends, securing its position as a key driver of Nigeria’s oil industry stability and growth.
