Shell targets additional production with Bonga Southwest’s investment
Nigeria’s crude oil production is expected to rise further if Royal Dutch Shell and its partners, next year, decide whether to go ahead with the development of the nation’s Bonga Southwest offshore oilfield, a senior company official said on Tuesday.
The project, one of the country’s largest with an expected production of 180,000 barrels per day, will generate profit at below $50 a barrel, managing director of Shell Nigeria Exploration and Production Company (SNEPCo), Bayo Ojuli, told reporters.
Shell is currently negotiating a production sharing contract with the Nigerian government which will determine the viability of the project, Reuters quoted him to have said. The negotiations are expected to finish this year. Read more