Elohor Aiboni, the Managing Director of Shell Nigeria Exploration and Production Company Limited (SNEPCo), has announced the company’s commitment to extending the operational life of the Bonga Floating, Production, Storage, Offloading (FPSO) vessel by an additional 15 years. This move is aimed at accommodating increased production from Nigeria’s inaugural deep-water development, which commenced operations in November 2005.
Aiboni revealed this during a panel discussion at the ongoing 8th Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) in Lagos, as reported by Channel TV news. Emphasizing Shell’s dedication to developing its robust portfolio in Nigeria, Aiboni highlighted ongoing efforts to mature numerous projects, both short-term and long-term, ensuring compliance with the appropriate fiscal and regulatory frameworks.
“Bonga produced 1 billion barrels of oil last year, and SNEPCo has stepped up efforts for additional volumes from existing assets with more to come on stream in 2024 and beyond,” stated Aiboni during the PETAN-organized conference. She also highlighted collaborative efforts with the Nigerian government and partners on deep-water projects such as Bonga North, Bonga South-West, and Nnwa Doro.
Shell Nigeria Gas, a subsidiary, revealed its commitment to expanding its gas distribution network to deliver over 1,000MW equivalent of energy to industrial parks and manufacturing companies in Nigeria. Aiboni also addressed Shell’s investments in renewables, stating that off-grid solutions are crucial for improving energy access in remote communities. Investments in renewable energy through companies like All On and Daystar Power Solutions aim to provide reliable and sustainable electricity to millions of Nigerians.
“All On has facilitated more than 80,000 off-grid connections in Nigeria’s 36 states, including the federal capital territory, with nearly 200 underserved communities and 560 new businesses powered with clean energy. Daystar plans to increase its installed solar capacity to 400MW by 2025 to become one of Africa’s leading providers of solar power solutions for commercial and industrial businesses,” explained Aiboni.
She concluded by affirming Shell’s commitment to being a reliable partner in Nigeria’s development, exploring innovative ways to reduce costs, drive efficiency, and remain competitive in the oil and gas sector despite challenges.
