Last Update: 3:06 PM ET Aug 24, 2006
PORT HARCOURT, Nigeria (MarketWatch) — Shell Petroleum Development Company of Nigeria, a unit of Royal Dutch Shell PLC (RDSB.LN), and the United Nations Development Program will spend $18 million on a development program in the Niger Delta, the unit’s chief executive said Thursday.
Shell will contribute $14 million out of the total, Basil Omiyi said at the start of a two-day conference on development in the region.
The conference is a follow-up to the launch last month of a report on development in the Niger Delta, which found that the quality of development there lagged behind that in similar regions with oil and gas resources.