Oil giant, Royal Dutch Shell, has announced plans to invest about 25 billion dollars this year in Nigeria and all its oil and gas operation across the world.
Shell made the announcement in its first quarter 2017 financial results released on Thursday.
The report revealed that Shell netted an income of 2.2 billion dollars and was expecting to generate 10 billion dollars in cash flow from the delivery of some of its new projects by 2018.
The company recently announced the resumption of oil production at its 225,000 barrels per day (bpd) Bonga Floating Production Storage and Offloading (FPSO) field in Nigeria’s deep-waters.
According to the company, the repair of Bonga will ensure sustained production and reduce unscheduled production deferments.
Shell is also involved in a new deep-water project – the 13.5 billion dollars Zabazaba Deepwater project located in…
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