Amid security concerns in the Niger Delta region, Shell Petroleum Development Company (SPDC) appears determined to start its expenditure plans on oil and gas projects worth $15 billion.
A delegation of the Royal Dutch Shell (the parent company of SPDC) led by its Chief Executive Officer (CEO), Mr. Ben van Beurden met with President Muhammadu Buhari in London on April 18. The meeting, according to the Ministry of Petroleum Resources, was facilitated by the Minister of State, Dr. Ibe Kachikwu, where the oil giant unfolded its $15 billion investment plan for Nigeria.
It was learnt that part of the investment includes Shell’s counterpart funding for its 25.6 percent share in the construction of Trains 7 and 8 in the Nigeria LNG plant located in Bonny, Rivers State, as well as drilling and production in the Bonga Southwest deep offshore oil field, which could potentially increase Nigeria’s oil reserves by more than one billion barrels.
The Media Relations Manager, Shell Nigeria, Bamidele Odugbesan, said that the company is embarking on the ambitious investment programme even when the security situation remained volatile in the Niger Delta region, further noting that the safety of Shell staff and contractors in Nigeria remains a top priority.