Shell Nears Project Execution Deal For Bonga North Oil Field Development

Oil major Shell has said it is working towards the realisation of the Bonga North oil field in Nigeria.

The firm is advancing the $5 billion Bonga North deep-water project to sustain and boost Nigeria’s oil production. The field is designed as a deep-water subsea tie-back to the existing Bonga Main FPSO and will target an estimated 300 million barrels of recoverable oil equivalent.

Business value manager, Chidi Nkazi, of the company gave the highlights during a round with the minister of state for Petroleum Resources (Oil), Heineken Lokpobiri, who visited the Shell stand at the opening of the ongoing NOG 2026 event in Abuja on Tuesday.

Lokpobiri was accompanied by the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari, and other dignitaries.

Chidi said SNEPCo was making good progress with the implementation of Bonga North and HI projects on which FIDS were taken in December 2024 and October last year respectively.

Shell is a key sponsor of the conference which is in its 25th year and is marking its participation with the exhibition, tracing its presence in Nigeria more than six decades ago and highlighting how its wide-ranging businesses have positively impacted Nigeria’s foreign earnings, contributed to the development of indigenous manpower and companies and improved lives and communities.

They were conducted around the booth by Shell Nigeria Exploration and Production Company Limited (SNEPCo), Shell Nigeria Gas, All On and Daystar Power.

He said the $3 billion contract finance facility that SNEPCo signed with nine leading Nigerian banks is a good example of SNEPCo’s efforts to improve the capacity of indigenous contractors and service providers in the oil and gas industry.

Chidi said: “The Shell Nigeria story goes beyond what is displayed at this exhibition stand and manifests daily in the funds we generate, which finance development and in the lives we positively impact through our social interventions. Working in close collaboration with the Nigerian National Petroleum Corporation Limited, other partners and stakeholders, we will continue to power progress and support Nigeria’s development.”