Royal Dutch Shell and its partners will decide on whether to go ahead with the development of Nigeria’s Bonga Southwest offshore oilfield in 2019.
The Managing Director of Shell Nigeria Exploration and Production Company, Mr Bayo Ojuli said that the project, one of the country’s largest with an expected production of 180,000 barrels per day, would generate profit at below $50 a barrel.
According to him, Shell is currently negotiating a production sharing contract with the Nigerian government which would determine the viability of the project.
“The negotiations are expected to finish this year. Shell operates the project and ExxonMobil, Total, Eni and the Nigerian National Petroleum Company are partners,” he added.