(MENAFN- Trend News Agency) BAKU, Azerbaijan, December 16. Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell plc, has confirmed its final investment decision (FID) on the Bonga North deep-water project off the coast of Nigeria, Trend reports.

According to the producer, Bonga North will be developed as a subsea tie-back to the Shell-operated Bonga Floating Production Storage and Offloading (FPSO) facility, in which Shell holds a 55% interest. The project involves drilling, completing, and commissioning 16 wells-eight production wells and eight water injection wells. In addition, modifications will be made to the existing Bonga Main FPSO, and new subsea infrastructure will be installed and connected to the FPSO.

The project is expected to sustain oil and gas production at the Bonga facility and is estimated to have recoverable resources of more than 300 million barrels of oil equivalent (boe). Peak production is expected to reach 110,000 barrels of oil per day, with first oil anticipated by the end of the decade.

Zoë Yujnovich, Shell's Integrated Gas and Upstream Director, commented on the importance of the project, stating, "This is another significant investment, which will help us to maintain stable liquids production from our advantaged Upstream portfolio."

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