December 8, 2023 [Reuters]- Shell (SHEL.L) sees a $5 billion offshore oil investment opportunity in Nigeria and pledged to spend a further $1 billion in five to 10 years to boost natural gas output for domestic supplies and exports, a presidential spokesperson said on Thursday, citing Shell’s director of gas and upstream operations.
Yujnovich was cited as saying Shell has “an imminent $5 billion investment opportunity” in the offshore Bonga North oil project.
Nigeria’s oil output has been in decline for years, hobbled by large-scale theft and sabotage. It has picked up in recent months, helped by offshore production that is less prone to attacks.
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