Shell Companies Pay $1.208bn Royalties In 2024

Shell Nigeria Exploration and Production Company of Nigeria Ltd (SNEPCo), Shell Nigeria Gas (SNG) made a combined payment of $1.208 billion dollars in royalties to the Nigerian government last year.

Oil major, Shell, is also investing in the future of Nigeria with the Final Investment Decision on the $5 billion Bonga North deep-water project, and SNEPCo increasing its interest in the OML 118, which includes the Bonga field, from 55 per cent to 67.5 per cent, through the acquisition of the 12.5 per cent stake of TotalEnergies.

Shell Companies in Nigeria (SCiN), disclosed the information when it kicked off their participation at the 24th Nigeria Oil and Gas Conference and Exhibition in Abuja with an elaborate exhibition on their operations which drew commendation from top government functionaries and other conference participants.

Among the visitors to the stand were the Minister of State for Petroleum, Heineken Lokpobiri and the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Bayo Ojulari, who were conducted round by Business Value Manager, Chidi Nkazi.

The SCiN are Diamond sponsors of the conference and are among many exhibiting companies from 85 countries.

The exhibition features the positive impact of the Shell presence on the development of the country through the businesses run by Shell Nigeria Exploration and Production Company of Nigeria Ltd (SNEPCo), Shell Nigeria Gas (SNG), All On and Daystar Power. These companies have achieved many milestones in deep-water production, gas supply to industries as well as provision of off-grid energy and renewables.

On its part, SNG serves more than 140 industrial and commercial customers in Ogun, Abia, and Rivers states while All On now has a total portfolio of 51 renewable energy companies, which have delivered more than 210,000 energy connections across the country. Daystar Power is offering integrated solar power to businesses in five countries in Africa, including Nigeria.

Shell’s Business Value manager, Chidi Nkazi who spoke at the exhibition stand: “A robust social investment portfolio by SCiN has also led to the implementation of programmes in education, health, employment generation as well as infrastructural development across communities in Nigeria.”
The participation of SCiN at NOG continues with Shell leaders making presentations and participating in key panel sessions.