Shell to invest $15 billion in Nigeria's oil and gas industry

By Solape Renner on 4/7/2019
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Osagie Okunbor, managing director, Shell Petroleum. Photo: Shell.

LAGOS (Bloomberg) -- Nigeria will get a large oil and gas investment from Shell Petroleum Development Company in the amount of about $15 billion, according to the Lagos-based newspaper ThisDay, citing managing director of the unit, Nosa Okunbor.

The company operates under a joint venture between the Nigerian National Petroleum Corporation, Royal Dutch Shell Plc, Total Exploration and Production Nigeria Ltd. and Nigerian Agip Oil Company Ltd., according to its website. Shell has a 30% stake in the business.

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The projects earmarked for investment will include deep offshore, shallow water, swamp and land terrain, the newspaper reported.

Shell has also taken a final investment decision regarding the 300 MMsf3/day Assa North Ohaji gas project, which is expected to generate 1,200 megawatts, said Okunbor.

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