Shell to Make Final Investment Call on Nigeria Oil Field in 2019
The negotiations are expected to finish this year.
SEATTLE (Oil Monster): Royal Dutch Shell and its partners will decide next year on whether to go ahead with the development of Nigeria’s Bonga Southwest offshore oil field, a senior company official said July 31.
The project, one of the country’s largest with an expected production of 180,000 barrels per day, will generate profit at below $50 per barrel, Bayo Ojuli, managing director of Shell Nigeria Exploration and Production Co., told reporters.
Shell is currently negotiating a production sharing contract with the Nigerian government which will determine the viability of the project, he said. The negotiations are expected to finish this year.
Shell operates the project and ExxonMobil, Total, Eni and the Nigerian National Petroleum Co. are partners.
Courtesy: www.epmag.com
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