Shell Nigeria’s $2 billion offshore project in OML 144 has received Federal Government approval, marking a major step in efforts to boost oil production and attract foreign investment.
The Federal Government has endorsed Shell Nigeria’s $2 billion Final Investment Decision (FID) for the development of a new offshore project in the HI Field, located within Oil Mining Lease (OML) 144, about 50 kilometres off the coast.
The announcement, delivered to the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, by Shell Nigeria’s Country Chair, Mr. Marno de Jong, is seen as a significant boost to Nigeria’s oil output and investor confidence.
In a statement by the Minister’s Special Adviser on Media, Nneamaka Okafor, the project—jointly undertaken by Shell Nigeria Exploration and Production Company (SNEPCo) and Sunlink Energies Resources Limited—demonstrates growing collaboration in the upstream sector.
Senator Lokpobiri described the $2 billion investment as “a reaffirmation of Nigeria’s position as a preferred destination for global energy investments,” adding that it reflects confidence in the government’s ongoing petroleum sector reforms aimed at stability, transparency, and sustainable growth.