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Nigeria approves $20B Shell deepwater project, first FID since 2008, to boost oil output and jobs.
Nigeria’s President Bola Tinubu has approved a fiscal incentive package for Shell’s Bonga Southwest Aparo deepwater oil project, paving the way for a final investment decision.
The $20 billion project, expected to produce 150,000 barrels of oil and 140 million cubic feet of gas daily, marks the first deepwater production sharing contract FID in Nigeria since 2008.
The move, following months of negotiations, aims to attract foreign investment, create over 5,000 jobs, and revive the country’s offshore oil sector.
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Nigeria aprueba un proyecto de aguas profundas de $ 20 mil millones de Shell, el primer FID desde 2008, para impulsar la producción de petróleo y los empleos.