Oil & Gas

11 Dec 2023

Shell Eyes $6BN in Nigeria Offshore, Gas Investments

11 Dec 2023  by brecorder.   
Oil giant Shell sees $6 billion in investment opportunities in Nigeria, especially in offshore, gas and liquefied natural gas (LNG) projects, the country’s presidency said in a statement on Friday.

Nigeria, the continent’s top economy and major oil producer, is seeking to attract more foreign investment since President Bola Ahmed Tinubu came to office in May with a raft of economic reforms.

After meeting with Tinubu in Abuja, Shell representative Zoe Yujnovich announced an “imminent” $5 billion investment in the Bonga North offshore project and commitment to another $1 billion over the next 5 to 10 years in gas and LNG, according to a presidency statement.

Shell remains committed to investments in Nigeria, “particularly as the company refocuses its investment to key into new and existing opportunities in the Deepwater and Gas sector,” the statement said.

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