Odimmegwa Johnpeter/Abuja
The Federal Government on Tuesday announced that a Final Investment Decision (FID) worth $2 billion for a new offshore project in Nigeria’s HI Field, located in Oil Mining Lease (OML) 144, approximately 50 kilometers offshore by Shell Nigeria.
This was contained in a statement signed by Nneamaka Okafor, Special Adviser, Media and Communications to the Minister of State for Petroleum Resources (Oil). According to the statement, the significant investment represents another major milestone in the nation’s ongoing efforts to strengthen its energy sector and boost production.
Okafor said the information was communicated to the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, by the Country Chair of Shell Nigeria, Mr. Marno de Jong,
The FID was taken out between Shell Nigeria Exploration and Production Company (SNEPCo) and Sunlink Energies Resources Limited, marking a strong demonstration of confidence in Nigeria’s oil and gas investment climate and the government’s commitment to driving sustainable energy growth.
Senator Lokpobiri stated that this development is a direct outcome of the bold reforms and transformative policies implemented by the Federal Government, which continue to enhance investor confidence and attract substantial capital inflows into Nigeria’s oil and gas industry.
“This $2 billion investment reaffirms Nigeria’s position as a preferred destination for energy investment and highlights the value of collaboration
between government and industry,” the Minister noted.
“We anticipate that more Final Investment Decisions from other investors will follow in the coming months as confidence in our sector continues to grow.”
The Federal Government remains committed to fostering an enabling environment for investment and ensuring that the benefits of such strategic partnerships translate into increased national prosperity, job creation, and sustainable energy development.
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