NNPCL, Shell Partners Sign Bonga Deepwater Deal Targeting Up to $21bn Investment

NNPCL and its OML 118 partners, including SNEPCo, Esso Exploration and Production Nigeria and Nigerian Agip Exploration, have signed addenda to advance the Bonga Southwest/Aparo deepwater project toward a Final Investment Decision. The project could attract between $15 billion and $21 billion over its lifespan. It is projected to produce up to 175,000 barrels of oil per day and 14 million standard cubic feet of gas daily at peak output. The partners have completed the project’s pre-FEED stage and selected a preferred bidder for the FPSO contract. However, any final contract award remains subject to partner, regulatory and governance approvals. If completed, the project is expected to raise oil output, foreign-exchange earnings, government revenue and local-content opportunities for Nigerian companies.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.