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Royal Dutch Shell Evaluating $4 Billion Investments in Niger Delta

By on April 19, 2012

Peter Voser, the CEO of Royal Dutch Shell has disclosed that the company is evaluating projects worth over $ 4 billion in Nigeria.

According to a statement released on the company’s website the investments are subject to approval by its Joint Venture partners as well as the security in the Niger Delta region.

Voser said, “Shell is assessing new projects for onshore Nigeria, which will add new production and reduce flaring. These projects could cost some $4 billion. We expect these to be completed in the 2014 to 2015 timeframe”.

He said Shell produced over 800,000 barrels per day of oil in Nigeria in 2011, accounting for over 10% of its worldwide total production. However he lamented on the poor security in the country where two of its officials were killed last year.

The senior executive said Shell would continue to cut back on gas flaring in the country. “SPDC (Shell’s joint venture in Nigeria) flared some 20 percent less gas in 2011 than in 2010, while increasing its oil and gas production by 7 percent in 2011,” Voser said.

One Comment

  1. evans

    April 29, 2012 at 3:56 am

    This is a very positive news for the oil and gas industry in Nigeria.

    Anaekwe Everistus Nnamdiwww.nigeriaoilandgasportal.com