The Nigerian government has welcomed a $2 billion investment commitment from Shell Nigeria for the development of a new offshore oil project, signalling renewed confidence in the country’s energy sector.
The investment, which covers operations in the HI Field under Oil Mining Lease (OML) 144, is situated about 50 kilometres offshore.
The final investment decision (FID) was jointly made by Shell Nigeria Exploration and Production Company (SNEPCo) and Sunlink Energies Resources Limited.
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, received the news from Shell Nigeria’s Country Chair, Mr. Marno de Jong, during a briefing in Abuja.
Senator Lokpobiri described the move as a direct outcome of recent reforms aimed at creating a more attractive investment climate for the oil and gas industry.
His words: “This is another significant milestone for Nigeria’s energy development agenda.
“It reflects the growing confidence of international investors in our policies and regulatory environment, ” he said.
He emphasised that the government’s strategic efforts to streamline the investment process and address long-standing industry challenges were now yielding tangible results.
The minister also noted that Nigeria is poised to see more high-value investment decisions in the near future as momentum builds.
“This investment not only strengthens our oil production base but also sends a clear signal that Nigeria remains a prime destination for global energy capital,” he added.
The government expects the project to contribute meaningfully to oil output, job creation, and foreign exchange earnings.
Lokpobiri further reiterated the administration’s commitment to ensuring that such investments translate into real economic benefits for Nigerians.
According to the Ministry, the Shell-led initiative also aligns with national goals for sustainable energy growth and resource optimisation.
