Mkpoikana Udoma 02 October 2015, Sweetcrude, Port Harcourt -The Shell Petroleum Development Company, SPDC, says it will focus its future investments in Nigeria on natural gas for domestic consumption and export.
Mr. Osagie Okunbor
Managing Director of Shell’s Companies in Nigeria, Mr. Osagie Okunbor, disclosed this to newsmen in Port Harcourt, the Rivers State capital.
Okunbor explained that the SPDC’s flagship project would be the Gbaran-Ubie gas project, which will increase gas supplies for the Bonny liquefied natural gas export terminal. A first phase began production in 2010.
According to him, “Our strategy is to invest a lot more in gas, for domestic consumption and export. We want to grow our deep water and constrain our onshore oil production.”
It should be noted that the Royal Dutch Shell in Nigeria has been divesting it onshore oil-producing assets for the last few years and completed another set near the end of March.
The divestment, according to Okunbor, “are part of an effort to move away from onshore oil projects in Nigeria, which are plagued by industrial scale theft, security problems and pipeline spills, which have become a growing legal liability.”