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Home Sectors OIL & GAS Shell Stakes N612 Billion on Two Niger Delta Projects

Shell Stakes N612 Billion on Two Niger Delta Projects

The Nigerian National Petroleum Corporation, (NNPC), and its subsidiary, the Nigerian Petroleum Development Company, (NPDC), have expressed their readiness to professionally and efficiently run some of the assets and oil mining leases transferred to it by Shell Petroleum Development Conpany (SPDC).

Shell has also taken Final Investment Decision (FID) on two capital projects worth of $3.9 billion (N612 billion) in the Niger Delta.

In a statement at the weekend, Shell identified the two projects whose FID had been taken as the Trans Niger Pipeline loop-line (TNPL) and the Gbaran-Ubie Phase Two works.

It disclosed that the total capital investment for the two bundles of projects was around $3.9 billion.

The Managing Director of SPDC and Country Chairman of Shell Companies in Nigeria, Mutiu Sunmonu, stated that the new projects had demonstrated Shell’s long-term commitment to Nigeria by clearly signaling its intent for the strategic direction of Shell in Nigeria.

Sunmonu also stated that sections of the TNP had been heavily impacted by sabotage and crude oil theft.

According to him, the design of the TNPL includes improvements, which make the pipeline better protected against crude oil theft and sabotage.




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