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

MT Newswires Live12-16

Shell (SHEL) said Monday its Shell Nigeria Exploration and Production subsidiary has approved the final investment decision for the Bonga North deep-water project off the coast of Nigeria.

The oil major said the project will be a subsea tie-back to the Bonga Floating Production Storage and Offloading facility, or FPSO, which Shell operates with a 55% interest.

The Bonga North project involves drilling, completing, and starting up to 16 wells, as well as modifications to the existing Bonga Main FPSO and the installation of new subsea hardware tied back to the FPSO, the company said.

Bonga North has an estimated recoverable resource volume of more than 300 million barrels of oil equivalent and is expected to reach a peak production of 110,000 barrels of oil a day, with first oil anticipated by the end of the decade, Shell said.

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