The Federal Government has welcomed with great optimism Shell Nigeria’s announcement of a Final Investment Decision (FID) valued at $2 billion for the development of a new offshore project in Nigeria’s HI Field, situated within Oil Mining Lease (OML) 144, approximately 50 kilometers off the coast.
This landmark investment, formally conveyed to the Honourable Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, by the Country Chair of Shell Nigeria, Mr. Marno de Jong, marks a significant advancement in Nigeria’s ongoing efforts to expand its energy infrastructure, boost crude oil production, and reinforce investor confidence in the nation’s oil and gas sector.
In a statement signed by Nneamaka Okafor, Special Adviser, Media and Communications to the Honourable Minister of State for Petroleum Resources (Oil), disclosed that the FID was taken out between Shell Nigeria Exploration and Production Company (SNEPCo) and Sunlink Energies Resources Limited, underscoring the spirit of collaboration and partnership that continues to drive growth and innovation in Nigeria’s upstream oil and gas industry.
Senator Lokpobiri commended Shell’s decision as a testament to the success of the Federal Government’s comprehensive reforms and progressive policies in the petroleum sector. He emphasized that these reforms are designed to restore Nigeria’s competitiveness, improve operational transparency, and stimulate sustainable growth across the value chain.
“This $2 billion investment reaffirms Nigeria’s position as a preferred destination for global energy investments,” the Minister stated. “It highlights the trust that international partners have in our government’s commitment to stability, innovation, and economic transformation. We are confident that this will pave the way for additional Final Investment Decisions from other investors in the near future.”
The Federal Government reiterated its commitment to creating an enabling environment that encourages responsible investment and ensures that such strategic initiatives yield tangible benefits for the Nigerian people through job creation, technology transfer, increased revenue generation, and sustainable energy development in line with national prosperity goals.
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