₦airaland Forum

Shell Nigeria (SNEPCo) and Sunlink Energies have taken the Final Investment Decision (FID) on the HI offshore gas project in OML 144.
But what does this mean for Nigeria's energy future? Will this boost local gas supply or is it primarily for export?
How many new jobs could a $2 billion offshore gas project like this create, both directly and indirectly? Share your thoughts! 👇

BREAKING: Shell invests $2bn in new offshore gas project in Nigeria

Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell plc, says it has taken a final investment decision (FID) on the HI offshore gas project in the country.

The decision, taken in partnership with Sunlink Energies and Resources Limited, saw the injection of $2 billion in the shallow offshore HI field in OML 144.
#TheCableIndex

https://x.com/thecableindex/status/1978027796661240073

Yekini be like "waaoooh. The investors are coming back. I am sagacious!"
They left petroleum and entered gas.

Investing 2 billion dollars to drill more than 100 billion dollars of your natural resources for their benefit...

it is well

applause, but still not good enough for a country that boast of over 200M people.
we far behind but moving slowly

Brendaniel:
Investing 2 billion dollars to drill more than 100 billion dollars of your natural resources for their benefit...

it is well

Who stopped you from drilling your own?

If Shell was investing in Ghana, this thread for don reach 3 pages by now. Emergency lovers of nigeria will be wailing everywhere, but see good news every where is quiet.

yorosstores:
Who stopped you from drilling your own?

What is also stopping you?

This new investment is a birth of the PIA initiated by President Muhammed Buhari.

The credit goes to late PMB and not PBAT.

The unbundling of roles, responsibilities and tasks of the Upstream (Exploration), Midstream (Refining) and Downstream (Distribution) has made investments more attractive in the Upstream sector.

Shell had announced this investment since last year with a total of $5B but has just concluded the first tranche of the $2B. This investment has been captured as an FDI inflow since last year.

Them go whine you (Propagandist) but please no panic.

Brendaniel:
What is also stopping you?

yorosstores:
Who stopped you from drilling your own?

Backstabbing and lack of trust associated with blacks it is.

Mind you,

They have workers who are ALL members of PENGASSAN.

But, small mkpi come talk say his own is special, they won't join unions.

Brendaniel:
Investing 2 billion dollars to drill more than 100 billion dollars of your natural resources for their benefit...

it is well

Since you love Nigeria so much and hate to see foreigners taking away $100B, you should have coughed out the $2B.

Shell Former CEO BVB messed up big time on this one. You sanctioned FID for the NLNG train 7, but only sanctioning the HI project that is supposed to feed the gas to Train 7 today. Only Total's Ubeta project will feed gas to Train 7 pending when HI comes online, and then Shell will continue to pay penalties to NLNG for not meeting with their commitments for gas supply to T7.

franklytru:
Since you love Nigeria so much and hate to see foreigners taking away $100B, you should have coughed out the $2B.

Can't your government loan me the 2 billion dollars so that I do it and retain the money inside Nigeria instead of exporting it to another man's land?

Lanruze:
This new investment is a birth of the PIA initiated by President Muhammed Buhari.

The credit goes to late PMB and not PBAT.

The unbundling of roles, responsibilities and tasks of the Upstream (Exploration), Midstream (Refining) and Downstream (Distribution) has made investments more attractive in the Upstream sector.

Shell had announced this investment since last year with a total of $5B but has just concluded the first tranche of the $2B. This investment has been captured as an FDI inflow since last year.

Them go whine you (Propagandist) but please no panic.

what Shell announced for $5bln last year was for Bonga North, This is HI. Two different projects.

DrMB:
Shell Nigeria (SNEPCo) and Sunlink Energies have taken the Final Investment Decision (FID) on the HI offshore gas project in OML 144.
But what does this mean for Nigeria's energy future? Will this boost local gas supply or is it primarily for export?
How many new jobs could a $2 billion offshore gas project like this create, both directly and indirectly? Share your thoughts! 👇


https://x.com/thecableindex/status/1978027796661240073

Shell sold its assets to Nigerian players to raise the money and FG insisted that they invest the raised funds in Nigeria.
It's a win-win for everyone.

Brendaniel:
Can't your government loan me the 2 billion dollars so that I do it and retain the money inside Nigeria instead of exporting it to another man's land?

What's stopping you from approaching the government you want to borrow from?

They announced both Bonga North Off-shore and the Gas investments bro.

The Special Adviser to the President on Gas Mrs. Verghen had made the announcement on Shell BP & Mobil Unlimited showing commitments in the Gas Investments since 2024.

COMPAQ:
what Shell announced for $5bln last year was for Bonga North, This is HI. Two different projects.

Lanruze:
This new investment is a birth of the PIA initiated by President Muhammed Buhari.

The credit goes to late PMB and not PBAT.

The unbundling of roles, responsibilities and tasks of the Upstream (Exploration), Midstream (Refining) and Downstream (Distribution) has made investments more attractive in the Upstream sector.

Shell had announced this investment since last year with a total of $5B but has just concluded the first tranche of the $2B. This investment has been captured as an FDI inflow since last year.

Them go whine you (Propagandist) but please no panic.

May I ask when did you start following news? PIB was never initiated by Buhari. It was under GEJ but Buhari got is passed to law. So don't make it look like the others before Buhari did nothing. All these Gen Z people.

Putin was right when he said that Nigeria is a branch of British investment.
Nigeria is a failed nation.

Ijaya123:
What's stopping you from approaching the government you want to borrow from?

Do you know if I have approached them ?

Shey T7 is still under construction. why the penalties?

larryUG:
Shell Former CEO BVB messed up big time on this one. You sanctioned FID for the NLNG train 7, but only sanctioning the HI project that is supposed to feed the gas to Train 7 today. Only Total's Ubeta project will feed gas to Train 7 pending when HI comes online, and then Shell will continue to pay penalties to NLNG for not meeting with their commitments for gas supply to T7.

If we are to keep going backwards then credit has to be given to Obj then, it was in his time that the thing was first mutted/

callthefred:
May I ask when did you start following news? PIB was never initiated by Buhari. It was under GEJ but Buhari got is passed to law. So don't make it look like the others before Buhari did nothing. All these Gen Z people.

Lol...

I am above 50 you hear. He passed it into law since you get my drift you are the Gen Alpha.

callthefred:
May I ask when did you start following news? PIB was never initiated by Buhari. It was under GEJ but Buhari got is passed to law. So don't make it look like the others before Buhari did nothing. All these Gen Z people.

9jatriot:
Shey T7 is still under construction. why the penalties?

T7 will be finished much earlier than this. Once T7 comes onstream, any of the parties that signed gas supply agreements with them (Shell, Total Energies, NNPC, Eni) and does not meet up with supply obligations will pay penalties. HI will not be commissioned till 2028. It is HI & Ubeta that are supposed to feed T7. The other existing gas fields are feeding Trains 1-6

Brendaniel:
Investing 2 billion dollars to drill more than 100 billion dollars of your natural resources for their benefit...

it is well

You that owns the resources Oyah bring $2billion to buy equipments so you can have full access to your resources nahhh..no be fight..

larryUG:
Shell Former CEO BVB messed up big time on this one. You sanctioned FID for the NLNG train 7, but only sanctioning the HI project that is supposed to feed the gas to Train 7 today. Only Total's Ubeta project will feed gas to Train 7 pending when HI comes online, and then Shell will continue to pay penalties to NLNG for not meeting with their commitments for gas supply to T7.

Train 7 just like Nigerian refinery
It's just an another fraud ...
It's been there at Bonny tight from Abachas days ...
Let them keep to train 1 may be 3

GUNITGuy:
Train 7 just like Nigerian refinery
It's just an another fraud ...
It's been there at Bonny tight from Abachas days ...
Let them keep to train 1 may be 3

I disagree. it is not a Fraud. You cannot compare T7 to Nigerian refineries and it could not have been there at Bonny since Abacha's days.
You are mistaken on this one sir

Brendaniel:
Do you know if I have approached them ?

If you did, what was the feedback you got?

This is going to be a quiet thread.

Too much positivity.

Brendaniel:
Investing 2 billion dollars to drill more than 100 billion dollars of your natural resources for their benefit...

it is well

It is obvious that you and the people who liked your comments dont know how these things work.

2 billion dollars will be invested, but all the money does not come from Shell Alone. It is a contribution between all parties that own interests in the block. The sharing formula will also be the same when the revenue starts coming in, and on top of that Royalties will be paid to the government.

In a JV system where NNPC owns 60% interests, NNPC will contribute 60% of the development cost (assuming it is this $2bn) and also earn 60% of the profits (assuming it is your $100bn figure to be earned).

Welcome development and Good news for the economy.

I'm always all for FDIs and positive news.