Shell gives green light for Bonga North project off Nigeria's coast

Shell has announced that its Nigerian subsidiary has made the final investment decision for the Bonga North Project. This deepwater project off the coast of Nigeria will play a crucial role in maintaining oil and gas production at the Bonga Field. The Bonga North Project will be linked to Shell's floating production storage and offloading unit (FPSO), in which the energy giant holds a 55 percent stake. The company estimates that more than 300 million barrels of oil equivalent can be extracted from the Bonga North Project. Peak production is expected to reach 110,000 barrels of oil per day, with first oil expected by the end of the decade. With the investment, Shell once again demonstrates its strategic focus on technically demanding projects that are intended to contribute to the company's long-term success.