Shell (SHEL) Nigeria Exploration and Production Company, SNEPCo, a subsidiary of Shell, has announced a final investment decision, FID, on Bonga North, a deep-water project off the coast of Nigeria. Bonga North will be a subsea tie-back to the Shell-operated Bonga Floating Production Storage and Offloading, FPSO, facility which Shell operates with a 55% interest. The Bonga North project involves drilling, completing, and starting up 16 wells, modifications to the existing Bonga Main FPSO and the installation of new subsea hardware tied back to the FPSO. The project will sustain oil and gas production at the Bonga facility. Bonga North currently has an estimated recoverable resource volume of more than 300 million barrels of oil equivalent and will reach a peak production of 110,000 barrels of oil a day, with first oil anticipated by the end of the decade.
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