Shell Reaffirms Confidence in Nigeria, Unveils Fresh Deepwater Investments to Boost Energy Future
Shell has reaffirmed its long-term commitment to Nigeria’s energy sector, pledging to continue investing in strategic projects and supporting the country’s ambition to build a secure and sustainable energy future through deepwater developments, local capacity building and technological innovation.
The commitment was made by Shell Nigeria Deepwater General Manager, Development and Subsurface, Kun Jiang, while delivering the sponsor’s remarks at the 49th Nigeria Annual International Conference and Exhibition of the Society of Petroleum Engineers (SPE) in Lagos.
Addressing industry leaders, regulators and stakeholders at the conference, Jiang said Shell remained optimistic about Nigeria’s energy prospects despite global economic uncertainties and the rapidly evolving energy landscape.
She said the company’s ongoing investments in the Bonga North project, HI, and the advancement of the Bonga Southwest development underscored Shell’s enduring confidence in Nigeria’s deepwater potential.
According to her, Shell’s recent launch of a US$3 billion contract financing programme by Shell Nigeria Exploration and Production Company (SNEPCo) further demonstrates that confidence by enabling Nigerian contractors to strengthen their technical capacity, create greater value within the industry and accelerate project execution.
“We continue to invest in Nigeria’s future through our projects, our people, and our enduring confidence in the potential of this nation,” Jiang said.
Shell was one of the major sponsors of this year’s SPE conference, continuing its longstanding support for the professional body, which has played a significant role in developing Nigeria’s oil and gas industry through knowledge sharing, innovation and professional development.
Speaking on the conference theme, “Thriving in the Evolving Global Energy Landscape: Collaborative Growth and Resilience,” Jiang acknowledged that the global energy industry continues to grapple with geopolitical tensions, supply chain disruptions, market volatility and shifting energy dynamics. However, she maintained that Nigeria remains well positioned to emerge as a leading destination for energy investment.
“With a population exceeding 240 million people, abundant natural resources, world-class talent, and growing domestic energy needs, Nigeria has all the ingredients to become one of the world’s most attractive energy investment destination,” she said.
She, however, stressed that abundant resources alone would not guarantee economic prosperity unless backed by deliberate action and sustained investment.
“But potential alone does not create prosperity. Potential must be converted into progress. Resources must be transformed into value. Opportunity must be matched by action,” Jiang stated.
She urged Nigeria to sustain reforms aimed at attracting investment, improving the business environment and embracing modern technologies capable of unlocking greater value from its energy resources.
According to her, countries and companies that combine resilience with innovation, collaboration and efficient project execution will be best positioned to succeed in the changing global energy market.
“The future will belong to countries and industries that combine resilience with innovation, ambition with collaboration and investment with execution excellence. Nigeria has the resources. Nigeria has the talent. Nigeria has the opportunity. What is required now is the collective determination to seize it,” she added.
As part of its participation at the conference, Shell mounted an exhibition showcasing some of its major technological achievements and ongoing investments across Nigeria’s energy sector.
Visitors to the exhibition were taken through the company’s operations by SNEPCo’s Senior Production Geologist, Abidemi Belgore, who highlighted technological innovations that have improved production efficiency at the Bonga field and supported the execution of the Bonga North project.
The exhibition also showcased Shell’s broad portfolio of businesses in Nigeria, including deepwater oil production, integrated gas operations, renewable energy initiatives, power solutions and the company’s social investment programmes aimed at supporting communities across the country.
Nigeria’s deepwater oil fields have become increasingly important to the country’s crude oil production, particularly as output from many onshore assets has faced operational challenges over the years.
Industry analysts believe continued investment in offshore developments such as Bonga North and Bonga Southwest could play a vital role in boosting Nigeria’s production capacity, enhancing energy security and generating increased revenues for the economy.
The SPE Annual International Conference remains one of the country’s leading gatherings of petroleum professionals, providing a platform for operators, regulators, service providers and policymakers to discuss emerging technologies, investment opportunities and strategies for ensuring the long-term sustainability of Nigeria’s energy industry.
