After divesting its onshore investments in Nigeria, Shell seeks to deepen and expand its investments offshore in the country. It is expected to make final investment decision (FID) on the 350 million barrels of crude oil Bonga North Deepwater field. The project is a Shell Nigeria Exploration and Production Company Ltd (SNEPCo). The project will be an extension of the current Bonga production that started in 2015. SNEPCo has 55% as the operator. It is a production sharing contract with the Nigerian National Petroleum Corporation (NNPC) Ltd. SNEPCo is also expected to make an FID on the HI and HA gas projects. These plans come amidst a renewed attempt under President Bola Ahmed Tinubu to expand oil and gas production in the country. This year, the government has targeted a 1.7 million barrels of crude oil production per day. The HI and HA gas projects are tied to train 7 production by the Nigeria Liquified Natural Gas (NLNG) projects.
