Lagos: Shell’s landmark $5 billion Final Investment Decision (FID) for the Bonga North deepwater project is drawing commendation across the petroleum industry, with the Society of Petroleum Engineers (SPE) hailing it as a transformative step towards energy sustainability and economic growth.
Announced at the 2025 SPE Nigeria Annual International Conference and Exhibition, the investment is projected to unlock over 300 million barrels of recoverable oil and significantly advance Nigeria’s upstream production goals.
Dr Amina Danmiani, Chairman of the SPE Nigeria Council, gave the commendation on Tuesday at the 2025 SPE Nigeria Annual International Conference and Exhibition (NAICE) in Lagos.
Danmiani said the Bonga North project, announced late last year, contains over 300 million barrels of recoverable oil equivalent, with peak output expected at 110,000 barrels daily.
She commended Shell’s ongoing commitment to Nigeria’s energy sector, aligning with the conference theme: “Building a Sustainable Energy Future” through technology, supply chain, human capital, and policy.
Echoing her remarks, Mr Marno de Jong, Shell Nigeria’s Executive Vice President and Country Chair, confirmed that work on the Bonga North project is underway.
“We are proud that our Nigerian operations deliver real value through taxes, local contracts, and social investment in areas like healthcare and education,” de Jong stated.
He reaffirmed Shell’s longstanding partnership with Nigeria, saying the 2025 SPE conference presents a key platform to express continued confidence in the country’s prospects.
Shell received a special award at the conference’s opening for taking the FID on the Bonga North project.
Shell is among more than 60 exhibitors at the event, showcasing its flagship Nigerian companies: Shell Nigeria Exploration and Production Company (SNEPCo) and Shell Nigeria Gas (SNG).
Also featured at Shell’s stand are All On, an energy access impact investor, and Daystar Power, a solar energy solutions provider operating across West Africa.
Speaking at the stand, Mr Abidemi Belgore, a Senior Production Geologist at Shell, highlighted the firm’s enduring role in Nigeria’s energy development.
“For over 60 years, Shell has powered Nigeria’s progress — from oil production to transformative social programmes.
“We are leveraging technology and talent to build a sustainable future. This conference offers a great chance to highlight that commitment,” he said.