The entities under the Shell umbrella in Nigeria have reached out to the Nigerian Content Development and Monitoring Board (NCDMB) seeking support for expediting the progress of three significant oil and gas ventures within the country. While Shell is currently in the process of divesting certain assets, it is keen to emphasize its unwavering commitment to Nigeria. The company assures stakeholders that its operational activities and the stability of its workforce will remain unaffected by any adjustments in shareholding structures.

Despite undergoing changes in ownership arrangements, Shell remains steadfast in its determination to make Final Investment Decisions (FIDs) on several pivotal projects by 2024. These decisions are anticipated to yield significant benefits for Nigeria's oil and gas sector and the broader national economy. Among these projects, the Bonga North initiative stands out, designed to serve as a tie-back project expected to unlock an estimated 350 million barrels of oil equivalent. Additionally, it aims to extend the operational lifespan of the Bonga Floating Production Storage and Offloading (FPSO) vessel by an additional 15 years.

Substantial progress has also been achieved in advancing plans for the HI and HA projects. These initiatives are earmarked to provide 50 percent of the necessary gas supply for the Train 7 project, a flagship venture led by the Nigeria Liquefied Natural Gas (NLNG). Grateful for the ongoing support from NCDMB across various initiatives, Shell urges the board to expedite approvals for the new projects, ensuring their smooth transition to full execution.

In response to Shell's call for accelerated approval processes, NCDMB reaffirms its commitment to maintaining a proactive approach in evaluating and endorsing oil and gas ventures. The board pledges to adhere strictly to the timelines outlined in the Service Level Agreement (SLA), aimed at streamlining the contracting process for such projects. Furthermore, NCDMB underscores the importance of international oil and gas entities operating in Nigeria adhering to the stipulations outlined in the Nigerian Oil and Gas Industry Content Development (NOGICD) Act. It emphasizes the need for transparency in project planning and submission to the regulatory body to ensure compliance with local content requirements and foster sustainable development within the Nigerian oil and gas industry.

Shell is a multinational conglomerate comprising energy and petrochemical companies. Leveraging advanced technologies and adopting innovative strategies, Shell is dedicated to fostering a sustainable energy landscape. As an international energy corporation, Shell specializes in exploration, production, refining, and marketing of oil and natural gas, alongside the manufacturing and marketing of chemicals. Shell prioritizes investment in power generation, including renewable sources like wind and solar energy. Additionally, Shell is committed to investing in electric vehicle charging infrastructure and developing low-carbon fuels for transportation, such as advanced biofuels and hydrogen.