Shell Considers Nigeria’s Upstream Ripe After $5bn FID In Bonga North Project

Shell Nigeria Exploration and Production Company Ltd (SNEPCo,) has expressed confidence in the growth of Nigeria’s deepwater explorations and further assured of the company’s continued development support to boost the country’s oil production output.
The company saidrecent developments in the Upstream and Downstream sectors of the energy industry, including the $5-billion final investment decision by Shell in the Bonga North Deepwater project echoed the sentiments around the first oil discovery in the country.
Shell, one of the major sponsors of the Oloibiri Lecture Series and Energy Forum (OLEF), also commended it as a platform for driving change in Nigeria’s energy sector through the discussions that centre on business performance, cost discipline and process simplification.
“This event is special to the Shell brand, not only because of the nostalgia of Oloibiri but the quality of discourse it has enabled in our sector over the years, SNEPCO managing director Ronald Adams said in a goodwill speech delivered by general manager, Wells and Geosciences Operations, Joe Mordi.
He said, “We are grateful to the Society of Petroleum Engineers and our host the Petroleum Technology Development Fund (PTDF) for another successful outing.”
Organised by the Society of Petroleum Engineers (SPE) Nigeria Council, the Oloibiri Lecture Series and Energy Forum began in 1991, in commemoration of the country’s first commercial oil discovery by Shell at Oloibiri, Bayelsa State, in 1956.
Ronald said recent developments in the Upstream and Downstream sectors of the energy industry, including the $5billion final investment decision by Shell in the Bonga North Deepwater project echoed the sentiments around the first oil discovery.
He noted, “These strides come with a commitment to excellence required of us for stakeholders, colleagues, our country and indeed, future generations. The theme for this year ‘Driving energy sustainability through technology, policy and supply chain excellence’ reflects this commitment. The future is bright, and we have the opportunity to co-create it.”