Nigeria has secured one other main enhance to its oil and gasoline sector with Shell’s $2 billion Final Investment Decision (FID) on the brand new offshore HI Field gasoline mission, marking the nation’s second main gasoline funding in 18 months.
According to a press release launched by the State House and signed by Bayo Onanuga, Special Adviser to President Bola Ahmed Tinubu on Information and Strategy, the brand new Non-Associated Gas (NAG) growth mission positioned within the shallow offshore OML 144 will ship roughly 350 million normal cubic ft of gasoline per day (mmscf/d) by 2028. This represents almost one-third of the feedgas necessities for Nigeria LNG Limited’s Train 7 mission.
The announcement raises the full worth of main upstream oil and gasoline funding commitments made since President Tinubu assumed workplace in 2023 to over $8 billion, underscoring what the presidency described as “renewed global investor confidence” in Nigeria’s vitality reforms.
The HI mission follows two earlier main FIDs—the Ubeta Non-Associated Gas mission and the Bonga North deepwater mission—highlighting the administration’s ongoing efforts to unlock Nigeria’s huge gasoline reserves for home use and export.
Together, the Ubeta and HI initiatives are anticipated to produce as much as 15 % of NLNG’s whole feedgas necessities, masking Trains 1 by 7.
Special Adviser to the President on Energy, Olu Arowolo Verheijen, famous that the initiatives are a part of strategic reforms launched by the Tinubu administration to make Nigeria a extra aggressive funding vacation spot.
“With the Ubeta FID and now the HI FID, we have secured the gas supply needed to make NLNG Train 7 not just possible, but transformative,” Verheijen mentioned.
“These projects will boost Nigeria’s LNG exports, expand domestic LPG supply, reduce imports, and advance clean cooking access for millions of Nigerian households.”
Shell’s Upstream President, Peter Costello, additionally reaffirmed the corporate’s dedication to Nigeria’s vitality sector, saying the brand new growth “demonstrates our continued commitment to Nigeria’s Deepwater and Integrated Gas ambitions” and aligns with the nation’s purpose of changing into a significant international LNG provider.
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President Tinubu welcomed the announcement as additional proof of his administration’s reform success, saying it “validates our wide-ranging reform efforts and signals to the world that Nigeria is fully open for business and investment.”
The HI gasoline discipline, first found in 1985, is being developed underneath the framework of “Presidential Directive 40,” which launched aggressive fiscal incentives for Non-Associated Gas initiatives in onshore and shallow offshore fields.
The assertion added that the NLNG Train 7 mission will broaden Nigeria’s LNG manufacturing capability by 8 million metric tonnes yearly—about 35 % of present capability—whereas creating jobs, stimulating {economic} progress, and strengthening native industries.
With this newest growth, Nigeria’s oil and gasoline sector seems to be regaining momentum, signaling a renewed period of investor confidence underneath President Tinubu’s management.
