UPDATE: SHELL ANNOUNCES INVESTMENT IN BONGA NORTH DEEP-WATER PROJECT
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A final investment decision (FID) for the deep-water project Bonga North off the coast of Nigeria has been announced by Shell Nigeria Exploration and Production Company Limited (SNEPCo), a division of Shell plc.
According to a statement released by the firm on Monday, the project will maintain the Bonga facility’s oil and gas production.
With an estimated recoverable resource volume of over 300 million barrels of oil equivalent (boe), Bonga North is expected to attain a peak production of 110,000 barrels per day by the end of the decade. The first oil is expected to be produced.
“This is another significant investment, which will help us to maintain stable liquids production from our advantaged Upstream portfolio,” said Shell’s Integrated Gas and Upstream Director, Zoë Yujnovich.
According to the corporation, Bonga North will contribute to making sure that its top-performing Upstream and Integrated Gas business keeps generating income for the ensuing ten years.
The Bonga Floating Production Storage and Offloading (FPSO) complex, in which Shell owns a 55% stake, will be connected to Bonga North by a subsea tie-back.
In the Bonga North project, 16 wells—eight production and eight water injection will be drilled, finished, and put into service. Additionally, the current Bonga Main FPSO will be modified, and new subsea hardware connected to the FPSO will be installed.
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