Investment Decision for Long-term Production
Shell Nigeria Exploration and Production Company Limited (SNEPCo) has confirmed a final investment decision (FID) for the Bonga North project, a deep-water oil and gas venture off Nigeria’s coast. This decision, announced on Monday, is set to bolster the production capacity at the existing Bonga facility.
Significant Resource Potential
The Bonga North field is estimated to hold over 300 million barrels of oil equivalent (boe) in recoverable resources. Once operational, it is projected to achieve a peak production rate of 110,000 barrels of oil per day, with the first extraction expected by the end of the decade.
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Strategic Importance for Shell
Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director, emphasized the project’s role in maintaining stable production from Shell’s upstream assets, stating, “This is another significant investment, which will help us to maintain stable liquids production from our advantaged Upstream portfolio.” The project is expected to contribute to Shell’s cash flow into the next decade.
Technical Details of the Project
Bonga North will be developed as a subsea tie-back to the existing Bonga Floating Production Storage and Offloading (FPSO) facility, where Shell holds a 55% operating interest. The development plan includes drilling 16 wells, split evenly between production and water injection wells, along with necessary modifications to the Bonga Main FPSO and the addition of new subsea infrastructure.
