Shell Traded Nigeria Exit for Fresh Oil Investment ...Middle East

Shell secured the Nigerian government’s approval of a major asset sale in the country by committing to a fresh large-scale investment in the Bonga North field, the Financial Times reported today, citing unnamed sources familiar with both deals. The Anglo-Dutch supermajor approved the Bong North deepwater project at the start of this week, with reports putting the total investment in the field at some $5 billion. Bonga North currently has an estimated recoverable resource volume of more than 300 million barrels of oil equivalent and will reach…

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