Shell: Libra Consortium announces first oil from Mero-4 FPSO in Brazil pre-salt
27 May 2025
30 May 2025
Shell Nigeria Exploration and Production Company (SNEPCo), a subsidiary of Shell plc, signed an agreement with TotalEnergies EP Nigeria Limited on May 28 to acquire its 12.5% stake in the OML 118 Production Sharing Contract (OML 118 PSC), an oil mining lease offshore Nigeria that includes the Bonga field. Upon completion, this transaction increases Shell’s interest in the OML 118 PSC from 55% to 67.5%.
SNEPCo is the operator under the OML 118 PSC. It currently produces from the Bonga field via the Bonga Floating Production Storage and Offloading (FPSO) vessel and announced the development of the Bonga North field in December 2024.
Bonga floating, production, storage and offloading (FPSO) facility lies in deep water, Gulf of Guinea
Image credit: Visual Content team, Shell International Limited
Image credit: Visual Content team, Shell International Limited
“Following our final investment decision on Bonga North last year, this acquisition brings another significant investment in Nigeria deep-water that contributes to sustained liquids production and growth in our Upstream portfolio,” said Peter Costello, Shell’s President, Upstream.
The transaction is subject to regulatory approvals and other closing conditions. The transaction is expected to be completed before the end of this year.
Shell UK Limited
With approximately 119,000 employees in more than 145 countries and territories around the world, the companies that comprise the Royal Dutch/Shell Group are engaged in Exploration and Production, Gas & Power, Oil Products, Chemicals, and Other industry segments including Renewables, Shell Consumer and Shell Hydrogen. Our Exploration and Production business searches for and recovers oil and gas around the world and is active in 34 countries. The majority of these acitivites are carried out in ventures with external partners.
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