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flag Nigeria approves $20B Shell deepwater project, first FID since 2008, to boost oil output and jobs.

flag 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. flag 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. flag 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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