Shell Announces Plans to Increase Investments in Deep Water, Gas, and Renewables with Bonga Project
Elohor Aiboni, the managing director of Shell Nigeria Exploration and Production Company Limited (SNEPCo) has revealed the company’s plan to prolong the operational life of the Bonga Floating Production, Storage, and Offloading (FPSO) vessel by an additional 15 years.
This extension aims to accommodate increased production from Nigeria’s inaugural deep-water development, which commenced operations in November 2005.
Aiboni made this announcement during a panel discussion at the ongoing 8th Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) in Lagos. The news was reported by Channel TV and monitored by our correspondent.
“Shell is committed to developing its robust portfolio in Nigeria,” Managing Director, Shell Nigeria Exploration and Production Company Limited (SNEPCo)”, Elohor Aiboni said.
At the yearly conference organised by the Petroleum Technology Association of Nigeria (PETAN), Aiboni said;
“We are maturing numerous projects planned to come onstream in the short, medium, and long terms with the right fiscal and regulatory framework.
“Bonga produced 1 billion barrels of oil last year and SNEPCo has stepped up efforts for additional volumes from existing assets with more to come on stream in 2024 and beyond.
Other opportunities in deep water include the Bonga North, Bonga South-West and Nnwa Doro projects on which SNEPCo is collaborating with the Nigerian government and partners to implement. Shell is also expanding its gas portfolio with both SNEPCo and The Shell Petroleum Development Company of Nigeria Ltd (SPDC) maturing several projects to deliver gas from their onshore and deep-water assets,” she said.
Shell Nigeria Gas (SNG) has revealed its commitment to providing reliable gas services to over 130 industrial and commercial customers. The company is focused on expanding its gas distribution network to facilitate the delivery of over 1,000MW equivalent of energy to industrial parks and manufacturing firms across Nigeria.
Aiboni explained investments in renewables: “Off-grid solutions are the quickest way to improve energy access in remote communities, so our investments in this area will provide millions of Nigerians access to reliable and sustainable electricity.
Shell Nigeria is driving uptake in renewable energy through two companies — All On and Daystar Power Solutions. All On has facilitated more than 80,000 off-grid connections in Nigeria’s 36 states, including the federal capital territory, with nearly 200 underserved communities and 560 new businesses powered with clean energy.
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Daystar plans to increase its installed solar capacity to 400MW by 2025 to become one of Africa’s leading providers of solar power solutions for commercial and industrial businesses”.
She added: “Over the years, Shell has proved to be a reliable partner in the development of Nigeria through our range of business and mainly the energy we produce. We will continue to look for innovative ways to help reduce costs and drive efficiency in our business. We want to remain highly competitive and relevant in the oil and gas business and still stand tall despite all the challenges.”
