PHOTO NEWS: Shell plans $20bn investment in Bonga South West oil project

By Kunle Sanni –

Shell has announced plans to invest up to US$20 billion over time in the Bonga South West oil project, marking a significant boost for Nigeria’s energy sector.

The announcement was made on Thursday when President Bola Ahmed Tinubu received the Chief Executive Officer of Shell Companies, Mr Wael Sawan, and his delegation at the State House, Abuja.

During the meeting, Shell reaffirmed its commitment to Nigeria’s oil and gas industry, highlighting the Bonga South West project as a key part of its long-term investment strategy in deep-water operations. The project is expected to enhance crude oil production, support energy security, and generate economic benefits, including jobs and increased government revenue.

President Tinubu welcomed the investment, describing it as a positive signal of investor confidence in Nigeria’s reforms and policy direction, particularly in the energy sector.

The Bonga South West project is located offshore Nigeria and is part of Shell’s broader efforts to sustain production while leveraging advanced deep-water technology.