Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell plc, has made a $5 billion Final Investment Decision (FID) on Bonga North, a deep-water oil and gas project off the Nigerian coast.
In a statement released Monday, Shell highlighted that the project would sustain production at the existing Bonga facility. Bonga North is estimated to hold over 300 million barrels of oil equivalent (boe) in recoverable resources and is expected to achieve peak production of 110,000 barrels of oil per day, with first oil anticipated by the end of the decade.
“This is another significant investment, which will help us to maintain stable liquids production from our advantaged Upstream portfolio,” said Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director.
Shell emphasized that the Bonga North development will support its Integrated Gas and Upstream business in driving cash generation well into the next decade.
The project will feature a subsea tie-back to the Shell-operated Bonga Floating Production Storage and Offloading (FPSO) facility, where Shell holds a 55% interest. It includes drilling, completing, and commissioning 16 wells—eight production and eight water injection wells. The development will also involve upgrades to the Bonga Main FPSO and the installation of new subsea hardware connected to the facility.
Bonga North represents a critical part of Shell’s strategy to enhance its upstream operations and maintain its leadership in the energy sector.
