Shell has said that it will add 15 more years to the Bonga Floating, Production, Storage, Offloading vessel’s operational lifespan.
The Times reported that the goal of this extension is to enable Nigeria’s first deep-water development which started operations in 2005 to produce more.
The Managing Director of Shell Nigeria Exploration and Production Company Ltd., Ms. Elohor Aiboni, reaffirmed the commitment on Thursday in Lagos. During the ongoing 8th Sub-Saharan Africa International Petroleum Exhibition and Conference, she participated in a panel discussion.
Aiboni emphasized that Shell’s investigation of prospects in Nigeria’s deep-water, gas, and renewable energy sectors is in line with the main Bonga life extension project. Shell has been a pioneer in oil and gas production in the country since 1956, spanning over 60 years of operations.
“With the appropriate fiscal and regulatory framework, we are working on numerous projects scheduled to come on stream in the short, medium, and long terms.
“SNEPCo is working with the Nigerian government and partners to implement the Bonga North, Bonga South-West, and Nnwa Doro projects, among other opportunities in deep-water.”
“Shell is also increasing its gas portfolio with SNEPCo and the Shell Petroleum Development Company of Nigeria Ltd, maturing various projects to produce gas from their onshore and deep-water assets.
“Shell Nigeria Gas aims to expand its distribution network to deliver over 1,000mw equivalent of energy to industrial parks and manufacturing companies, Shell Nigeria Gas currently serves over 130 industrial and commercial customers,” the company said.
She also discussed the company’s investments through Daystar and All On in renewable energy projects, particularly solar power, across Nigeria.
Similar to other foreign oil giants present in Nigeria, Shell has sold off its onshore holdings in order to concentrate on the offshore Bonga field.
The business recently sold its onshore asset for $1.3 billion to a consortium of domestic oil businesses, with an additional $1.1 billion to be paid. This total would eventually reach $2.4 billion.
