Shell Makes Final Push on Bonga North Project

Shell's Nigerian subsidiary has decided to proceed with the Bonga North deep-water project, which is expected to play a significant role in maintaining oil and gas production in the region. Connected to the FPSO facility, the project is anticipated to produce over 300 million barrels of oil equivalent.

On Monday, Shell announced that its Nigerian subsidiary has reached a final investment decision on the Bonga North deep-water project, located off the coast of Nigeria.

The project aims to sustain oil and gas production in the area and will be integrated with Shell's Floating Production Storage and Offloading (FPSO) facility, wherein Shell possesses a 55% interest.

Bonga North is projected to deliver over 300 million barrels of oil equivalent, with peak production pegged at 110,000 barrels per day, and the first oil expected by the decade's end.

(With inputs from agencies.)