Shell Nigeria Exploration and Production Company Ltd. (SNEPCo), a subsidiary of Shell plc, says it made a Final Investment Decision (FID) on Bonga North, a deep-water project off the coast of Nigeria.
Ms Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director, disclosed this in a statementon Monday in Lagos.
Yujnovich said Bonga North would be a subsea tie-back to the Shell-operated Bonga Floating Production Storage and Offloading (FPSO) facility which Shell operates with 55 per cent interest.
She explained that the Bonga North project involves drilling, completing, and starting up 16 wells, made up of eight production and eight water injection wells.
Also, modifications to the existing Bonga Main FPSO and the installation of new subsea hardware tied back to the FPSO.
The director said the project would sustain oil and gas production at the Bonga facility.
According to Yujnovich, Banga North currently has an estimated recoverable resource volume of more than 300 million barrels of oil equivalent (boe).
She said Banga North would reach a peak production of 110,000 barrels of oil a 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.
“Bonga North will help ensure Shell’s leading Integrated Gas and Upstream business continues to drive cash generation into the next decade,”she said.
SNEPCo operates the Bonga field in partnership with Esso Exploration and Production Nigeria Ltd., Nigerian Agip Exploration Ltd. and TotalEnergies Exploration and Production Nigeria Ltd. on behalf of the Nigerian National Petroleum Company Ltd. (NNPC).
Bonga is a deep-water development located in OML 118, at water depths exceeding 1,000 meters. Production at the Bonga FPSO began in 2005, with a capacity to produce 225,000 barrels of oil per day.
