Bonga FID to come in February: oil min

ABUJA, December 10, 2018 – Nigerian oil minister Emmanuel Ibe Kachikwu has said the final investment decision on the Bonga South West oilfield is expected by February 2019, international media reported Friday.

“Negotiations [are] still going on. The contractual dynamics [are] still being perfected …,” Minister of State Kachikwu told Reuters. “Shell wants to do it by the end of the year. Probably it will slip into early next year for FID purposes. […] Between now and February we should see a FID on Bonga.”

Bonga South West offshore oilfield was discovered in 2001, approximately 10 kilometres southwest of the producing Bonga field. Shell subsidiary Shell Nigeria Exploration and Production Company is operator of OML 118, which contains the majority of Bonga South West’s reserves. ExxonMobil, Total, Eni and Sasol Petroleum are the remaining stakeholders.

Read our latest insights on: