Shell Confirms Commitment to Bonga North Project in Nigeria

Shell Nigeria Exploration and Production Company Limited (SNEPCo), part of Shell plc, has taken a significant step for the Bonga North deep-water project located off the coast of Nigeria. The company has approved the final investment decision for the project, which will be developed as a subsea tie-back to the existing Bonga Floating Production, Storage, and Offloading (FPSO) facility. Shell holds a 55% operating interest in this facility.

The development plan for Bonga North includes the drilling and commissioning of a total of 16 wells, comprising eight production wells and eight water injection wells. Additionally, the project encompasses modifications to the existing Bonga main FPSO and the establishment of new subsea infrastructure that will connect to the FPSO.

The Bonga North field is expected to make a significant contribution to maintaining oil and gas production levels at the Bonga facility. With an estimated recoverable resource volume of over 300 million barrels of oil equivalent, Bonga North is projected to reach a peak production rate of 110,000 barrels of oil per day. Oil production from this field is expected to commence by the end of the decade.

Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director, underscored the strategic nature of the investment, stating, “This is another significant investment that will help us sustain stable liquid production from our advantaged upstream portfolio.” The investment in Bonga North is anticipated to strengthen Shell's Integrated Gas and Upstream business and generate robust cash flow over the next decade.