Shell, Nigerian Government to Boost Production

Royal Dutch Shell has made the move to increase production in Nigeria, according to local reports. Shell is currently involved in a JV with the Nigerian government, a venture that has been hindered by financial difficulties.

The attempt to boost production comes on the heels of a new plan offered by Nigeria's government to the oil giant that would alleviate the funding issues that have impeded further development of the venture.

According to The Financial Times, Nigerian President Umaru Yar'Adua proposed outlines that would raise financing independently rather than depend on cash financing from the Nigerian government. Shell has accepted Yar-Adua's proposal.

The Times report indicated that Shell is prepared to back Nigeria's portion of the financing with a loan until the deal can be finalized.

With a 60-year history in Nigeria, Shell averages 1 million bbl/d of oil production in Nigeria's land, swamp, and shallow offshore fields.


We want to hear from you. Questions, opinions and suggestions are all welcomed by the Rigzone Staff. Write us at news@rigzone.com .

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
United States Houston: Senior Production Group Leader
Expertise: Logistics Management|Manufacturing Engineering|Supply Chain Management
Location: Houston, TX
 
US Houston: Attorney (Environmental Law)
Expertise: Environmental Engineer|Legal
Location: Houston, TX
 
United States Conroe: Production Group Leader
Expertise: Logistics Management|Materials Management |Supply Chain Management
Location: Conroe, TX
 
search for more jobs

Brent Crude Oil : $52.42/BBL 2.12%
Light Crude Oil : $49.51/BBL 2.35%
Natural Gas : $3.17/MMBtu 2.25%
Updated in last 24 hours