AllAfrica.com: Shell Plans $9bn Five-Year Investment
“Coming at a time when there was some speculation about Shell’s future in Nigeria, this development is a resounding demonstration of Shell’s long-term commitment…”
Mike Oduniyi
This Day (Lagos)
Posted 31 August 04
Moves Headquarters to Port Harcourt January
Shell Petroleum Development Company (SPDC) is planning to invest another $9 billion in the Nigerian oil and gas sector, over the next five years.
The investment covers the company’s joint venture projects with the Nigerian National Petroleum Corporation (NN-PC), oil exploration and production in the deep offshore and the expansion of the Nigerian Liquefied Natural Gas (LNG) plant.
Already, Shell has awarded a $43 million contract for the exploitation of non-associated gas from its Oil Mining Leases (OMLs) 35 and 46. The gas will be supplied to the Bonny LNG plant from 2008.