Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell plc, has made a significant move by announcing a final investment decision (FID) for the Bonga North deep-water project off Nigeria's coast.
This project will serve as a subsea tie-back to the Bonga Floating Production Storage and Offloading (FPSO) facility, in which Shell holds a 55% interest.
The Bonga North initiative entails the drilling and completion of 16 wells—eight for production and eight for water injection—as well as necessary modifications to the existing Bonga Main FPSO and the installation of new subsea hardware.
Shell estimates that this project will sustain oil and gas production at the Bonga facility, with recoverable resources projected to exceed 300 million barrels of oil equivalent (boe) and peak production anticipated at 110,000 barrels per day, with first oil expected by the end of the decade.
Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director, emphasized the importance of this investment for maintaining stable liquids production from their upstream portfolio.
The Bonga North project is expected to bolster Shell’s Integrated Gas and Upstream business, contributing significantly to cash generation as it moves into the next decade.
