Shell, Partners Study Potential $20 Billion Nigeria Oil Project

Shell Plc and its partners in Nigeria are exploring how to develop a big oil field in the West African nation, a step that could one day see them invest $20 billion in the project, the oil major’s Chief Executive Officer said.

“We are indeed working on a project, Bonga South West, that could potentially, if we get to an FID stage, with the partners, invest around $20 billion foreign direct investment,” Shell Chief Executive Officer Wael Sawan said in a video shared by the country’s presidency. He said that it would be among the biggest energy projects in the world, adding that there are other investment opportunities in the country.