Nigeria has secured a $2 billion gas investment from global energy giant Shell for the development of the HI Field, a shallow offshore non-associated gas project located in OML 144.
This was announced in a statement by Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, on Tuesday in Abuja.
According to the Presidency, the project is expected to produce about 350 million standard cubic feet of gas per day (mmscf/d) from 2028. It represents Nigeria’s second major gas investment in 18 months, reflecting growing global confidence in the country’s energy sector under President Tinubu.
With this new project, total upstream investment commitments through Final Investment Decisions (FIDs) have now exceeded $8 billion since Tinubu took office in 2023.
Welcoming the development, President Tinubu described the investment as a strong endorsement of his administration’s energy reforms.
“This major FID announcement by Shell, their second in one year, is a clear validation of our reform efforts and a signal to the world that Nigeria is open for business and investment,” he said.
The HI gas field, discovered in 1985, will supply nearly one-third of the feedgas required for the Nigeria LNG Train 7 project, which aims to boost the country’s liquefied natural gas production by 8 million metric tonnes per year — a 35 percent increase in current output.
The Presidency noted that the HI project follows the Ubeta Non-Associated Gas project and the Bonga North deepwater development, making it the third major oil and gas FID in 18 months. Together, the HI and Ubeta projects will supply up to 15 percent of NLNG’s total feedgas requirements across Trains 1 to 7.
Special Adviser to the President on Energy, Olu Arowolo Verheijen, attributed the success to the administration’s targeted reforms, including Presidential Directive 40, which introduced a more competitive fiscal framework for gas projects.
“With the Ubeta FID and now the HI FID, we have secured the gas supply needed to make NLNG Train 7 not just possible, but transformative,” Verheijen said. “These projects will strengthen Nigeria’s LNG exports, boost LPG supply for local use, cut imports, and expand access to clean cooking for millions of homes.”
Shell’s Upstream President, Peter Costello, reaffirmed the company’s long-term commitment to Nigeria.
“Following recent investment decisions related to the Bonga deep-water development, today’s announcement demonstrates our continued commitment to Nigeria’s energy sector, focusing on Deepwater and Integrated Gas,” Costello said.
The Presidency emphasized that the Tinubu administration remains committed to creating a business-friendly environment for both local and foreign investors, positioning Nigeria as a competitive player in the global gas market.
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