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    Home > Finance > Shell invests in Nigeria's Bonga North deep-water project
    Finance

    Shell invests in Nigeria's Bonga North deep-water project

    Published by Global Banking & Finance Review®

    Posted on December 16, 2024

    1 min read

    Last updated: January 27, 2026

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    Quick Summary

    Shell's Nigerian subsidiary reaches FID on Bonga North, a deep-water project with over 300 million boe. Peak production of 110,000 boepd expected by decade's end.

    Shell Commits to Nigeria's Bonga North Deep-Water Project

    (Reuters) - Shell said on Monday its Nigerian subsidiary has announced a final investment decision (FID) on Bonga North, a deep-water project off the coast of Nigeria.

    The project, which will help maintain oil and gas production at Bonga, will be connected to Shell's Floating Production Storage and Offloading (FPSO) facility, where the oil major holds a 55% stake.

    Shell said Bonga North has an estimated recoverable resource volume of more than 300 million barrels of oil equivalent (boe) and will reach peak production of 110,000 barrels of oil per day (boepd), with first oil expected by the end of the decade.

    (Reporting by Arunima Kumar in Bengaluru; Editing by Abinaya Vijayaraghavan)

    Key Takeaways

    • •Shell announces final investment decision on Bonga North.
    • •Project aims for peak production of 110,000 boepd.
    • •Bonga North connected to Shell's FPSO facility.
    • •Estimated recoverable resources exceed 300 million boe.
    • •First oil expected by end of the decade.

    Frequently Asked Questions about Shell invests in Nigeria's Bonga North deep-water project

    1What is the main topic?

    The main topic is Shell's final investment decision on the Bonga North deep-water project in Nigeria, aiming to boost oil production.

    2What is the expected production capacity?

    The Bonga North project is expected to reach a peak production of 110,000 barrels of oil per day.

    3When is the first oil expected?

    First oil from the Bonga North project is expected by the end of the decade.

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