Shell Approves Deepwater Oil Project Offshore Nigeria

Shell’s Nigerian subsidiary has approved the Bonga North deep-water project off the coast of Nigeria, the UK-based supermajor said on Monday, announcing the final investment decision for the development. The Bonga North project will be a subsea tie-back to the Shell-operated Bonga Floating Production Storage and Offloading (FPSO) facility which Shell operates with a 55% interest. The project will sustain oil and gas production at the Bonga facility, Shell said. Bonga North currently has an estimated recoverable resource volume of more than…