SHELL SEES BRIGHT FUTURE FOR NIGERIAN COMPANIES IN OFFSHORE DEVELOPMENTS
GREATRIBUNETVNEWS–Shell Nigeria Exploration and Production Company Ltd (SNEPCo) believes Nigerian companies can greatly benefit from opportunities in offshore and shallow water oil and gas projects.
THIS POST IS SPONSORED BY SHELL NIGERIA
According to Ronald Adams, SNEPCo’s Managing Director, Nigeria’s deep-water fields have vast untapped potential that could play a vital role in powering the country’s future and supporting cleaner energy.
Key Opportunities
– Deep-Water Potential: Nigeria’s deep-water fields are home to some of the world’s most promising associated and non-associated gas reserves.
– Investment Plans: Shell has announced a $5 billion investment in the Bonga North offshore project and an additional $1 billion over the next 5 to 10 years in gas and LNG projects.
– Growth Prospects: With the right conditions, Nigeria can meet its oil production targets and implement ambitious development programs from deep-water oil and gas operations .
Requirements for Success
– Favorable Investment Climate: A conducive investment environment is necessary to attract capital and innovation to develop gas resources responsibly and sustainably.
– Streamlined Approval Processes: Nigeria must address regulatory bottlenecks through faster approval processes and consistent policy enforcement.
– Competitive Policies: Fiscal and regulatory policies should be fit-for-purpose, forward-looking, and competitive to attract investments
