Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell plc, has announced a ₦5bn final investment decision (FID) on Bonga North, a deep-water project off the coast of Nigeria.
The project will sustain oil and gas production at the Bonga facility, the company said in a statement on Monday.
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.
“This is another significant investment, which will help us to maintain stable liquids production from our advantaged Upstream portfolio,” said Shell’s Integrated Gas and Upstream Director, Zoë Yujnovich.
The company said Bonga North will help ensure its leading Integrated Gas and Upstream business continues to drive cash generation into the next decade.
Bonga North will be a subsea tie-back to the Shell-operated Bonga Floating Production Storage and Offloading (FPSO) facility which Shell operates with a 55% interest.
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.
