Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell plc, has made a final investment decision (FID) for the Bonga North deep-water project off Nigeria’s coast.
The project is set to sustain oil and gas production at the Bonga facility, the company announced in a statement on Monday.
Bonga North is estimated to hold over 300 million barrels of oil equivalent (boe) in recoverable resources and is expected to reach peak production of 110,000 barrels of oil per day, with first oil anticipated by the end of the decade.
“This is a significant investment that will help us maintain stable liquids production from our advantaged Upstream portfolio,” said Zoë Yujnovich, Shell’s Director of Integrated Gas and Upstream. “Bonga North will play a key role in ensuring our Integrated Gas and Upstream business continues to generate cash flow well into the next decade.”
The Bonga North project will be developed as a subsea tie-back to Shell’s Bonga Floating Production Storage and Offloading (FPSO) facility, in which Shell holds a 55% interest. The project will involve drilling and completing 16 wells (8 production and 8 water injection wells), making modifications to the existing Bonga Main FPSO, and installing new subsea infrastructure tied back to the FPSO.
