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Shell has announced FiD for HI gas project. one of the 20 priority gas projects under the decade of gas initiative
London - Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell plc, together with Sunlink Energies and Resources Limited, have taken a final investment decision (FID) on the HI gas project offshore Nigeria.
When completed, the project will supply 350 million standard cubic feet (approximately 60 thousand barrels of oil equivalent) of gas per day at peak production to Nigeria LNG (NLNG; Shell interest 25.6%), which produces and exports liquefied natural gas (LNG) to global markets. Production is expected to begin before the end of this decade.
“Following recent investment decisions related to the Bonga deep-water development, today’s announcement demonstrates our continued commitment to Nigeria’s energy sector, with a focus on Deepwater and Integrated Gas,” said Peter Costello, Shell’s Upstream President. “This Upstream project will help Shell grow our leading Integrated Gas portfolio, while supporting Nigeria’s plans to become a more significant player in the global LNG market.”
The increase in feedstock to NLNG, via the Train 7 project that aims to expand the Bonny Island terminal’s production capacity, is in line with Shell’s plans to grow its global LNG volumes by an average of 4-5% per year until 2030. It will also bolster NLNG’s contribution to Nigeria's national economic development goals, including jobs in construction and operations.
The HI field was discovered in 1985 and lies in 100m of water depth around 50km from the shore. The current estimated recoverable resource volumes of the HI project are approximately 285 mmboe (million barrels of oil equivalent).
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