Nigeria Secures $2bn Shell Gas Investment for HI Field
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 […]