NUPRC Reaffirms Support For Shell As FG Moves To Unlock $50bn Offshore Investment

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reaffirmed its support for Shell Nigeria’s operations in the country, as the Federal Government moves to unlock $50 billion in deep offshore investments, beginning with the estimated $10 billion Bonga South West project.

The reaffirmation came on Friday when the Commission Chief Executive of NUPRC, Mrs. Oritsemeyiwa Eyesan, received the newly appointed Executive Vice President and Country Chair of Shell Nigeria, Elohor Aiboni, at the Commission’s corporate headquarters in Abuja.

According to a post on the commission’s X handle, discussions between the two centred on projects currently being undertaken by the oil major, against the backdrop of federal government efforts to unlock the $50 billion in deep offshore investments.

Eyesan was reported to have described NUPRC as a business enabler, stating that the Commission remains committed to supporting operators in the industry to help Nigeria reach its target of producing three million barrels of oil per day (3mmbopd) by 2030.

The meeting is coming at a time the federal government is intensifying efforts to attract fresh capital into the country’s deep offshore terrain, with the Bonga South West project seen as a flagship element of the broader $50 billion investment drive.

Recall that Aiboni’s appointment took effect on August 1, 2026, making her the first woman to hold the combined role of executive vice president and country chair in Shell’s 60-year history in the country.

She succeeded Marno de Jong, who retired after more than six years leading Shell’s Nigerian operations and 34 years with the company, who is retired after leading Shell’s Nigerian operations for six years and spending 34 years with the company. Aiboni brings over 24 years of experience within Shell, having worked across the company’s onshore and offshore businesses in Nigeria as well as international postings in Kazakhstan and Brunei.

She previously served as the first female managing director of Shell Nigeria Exploration and Production Company Limited (SNEPCo) from 2021, during which the subsidiary recorded its one billionth barrel of oil from the Bonga field in 2023. In 2021, Aiboni became the first female managing director of Shell Nigeria Exploration and Production Company Limited (SNEPCo). Under her leadership, the subsidiary produced its one billionth barrel of oil from the Bonga field in 2023.