Shell has deferred expansion work at its Nigerian offshore Bonga field by two years.
S&P Global Platts, which provides benchmark prices for commodity markets around the world, reported this on Wednesday, quoting company sources.
Bonga, Nigeria’s first deep-water oilfield, can produce 225,000 barrels of crude oil and 150 million standard cubic feet of gas per day.
Shell along with its partners had in May 2021 signed a contract with the state oil company Nigerian National Petroleum Company Limited (NNPC) on oil mining lease OML 118 to expand the Bonga oilfield and unlock a $10 billion investment in the country’s deep-water resources.
Earlier, Shell had said it would execute the Bonga Southwest project, whose total potential yield comes to 3.2 billion barrels.