Tinubu celebrates Shell, partners’ $5 billion deepwater investment

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'President Tinubu's strategic engagement with global energy stakeholders has been instrumental in this renewed wave of investments,' a statement said.

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The Bonga North oilfield, located 130 kilometres offshore in Oil Mining Lease 118, represents an impressive estimated $5 billion investment and is expected to yield approximately 350 million barrels of crude oil. Shell holds the most significant operational interest, with 55%. Its other partners are the

President Tinubu’s strategic engagement with global energy stakeholders has been instrumental in this renewed wave of investments. With both blueprint projects now achieving FID, the success of these initiatives underscores the effectiveness of the President’s strategic vision for Nigeria’s energy future.

The Tinubu administration remains steadfast in positioning Nigeria as a global leader in energy innovation and investment, ensuring that these efforts translate into tangible benefits for all Nigerians.

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