Shell Venture Set to Invest $15 Billion in Nigeria, ThisDay Says
An oil flow station, operated by Shell Petroleum Development Co. (SPDC) in Port Harcourt, Nigeria.
Photographer: George Osodi/Bloomberg
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Shell Petroleum Development Company plans to invest about $15 billion in oil and gas projects in Nigeria over the next five years, Lagos-based newspaper ThisDay reported, citing managing director of the unit, Nosa Okunbor.
The company operates under a joint venture between the Nigerian National Petroleum Corporation, Royal Dutch Shell Plc, Total Exploration and Production Nigeria Ltd. and Nigerian Agip Oil Company Ltd., according to its website. Shell has a 30 percent stake in the business.