NIGERIA SECURES $2BN SHELL GAS DEAL

Nigeria has secured another major boost to its gas sector as global energy giant Shell announced a $2 billion investment in the development of the HI Field, a shallow offshore Non-Associated Gas project located in OML 144.

The Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, disclosed this in a statement issued today in Abuja.

The Presidency said the project, which is expected to deliver about 350 million standard cubic feet of gas per day (mmscf/d) from 2028, represents Nigeria’s second major gas investment in 18 months and underscores renewed global confidence in the country’s oil and gas industry under President Tinubu.

It said the new project brings total upstream investment commitments through Final Investment Decisions to over $8 billion since Tinubu assumed office in 2023.

Welcoming the development, Tinubu described the investment as another validation of his administration’s energy sector reforms and the country’s growing attractiveness to international investors.

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