LAGOS, Dec. 16 (AGCNewsNet) – Shell has announced a final investment decision (FID) on the Bonga North project, a deep-water development off Nigeria’s coast. The project aims to sustain oil and gas production at the Bonga field and will be integrated into Shell’s Floating Production Storage and Offloading (FPSO) facility, where the company holds a 55% stake. 

Bonga North is expected to deliver more than 300 million barrels of oil equivalent (boe) in recoverable resources. Once operational, the project will achieve peak production of 110,000 barrels of oil per day (boepd), with first oil anticipated before the end of the decade. 

Shell’s investment underscores its continued commitment to Nigeria’s energy sector amid global shifts toward cleaner energy sources. It also aligns with Shell’s broader strategy to optimize production from existing fields while exploring new growth opportunities. 

The Bonga North project follows Shell’s efforts to secure Nigeria's status as a leading oil producer, providing significant contributions to the country’s economy and energy supply.