Nigeriana.org News

Business & Finance

Shell shuts Bonga oil field, cuts Nigeria’s production to 1.88m barrels

Shell

Shell Nigeria Exploration and Production Company Limited (SNEPCo) has announced the shutdown of its Bonga oil field, for necessary maintenance.
This singular action by Shell has cut Nigeria’s daily oil production levels from 2.1 million barrels to 1.875 million barrels.

Bamidele Odugbesan, Shell’s spokesperson in Nigeria, said the shutdown was for turnaround maintenance of the oil field.

“SNEPCo has commenced turnaround maintenance at Bonga, executing statutory activities that will ensure continuous optimum operations at the deepwater field which began producing in November 2005,” the statement read.

“Production from the field was shut down on March 4, 2017, and is expected to resume at the conclusion of the exercise next month. This is the fourth turnaround maintenance since Bonga began production.”

ALSO READ:  CBN: No Nigerian Bank Is In Distress

Earlier, Maikanti Baru, group managing director of the Nigerian National Petroleum Corporation (NNPC), said Nigeria was clearly on its way to budgetary target of 2.2 million barrels per day.

“Crude production has steadily increased to 2.1m b/d due to some strategic dialogue efforts embarked upon by the federal government in the Niger Delta,” Baru had said on February 28.

With the maintenance at the Bonga field, Nigeria’s oil revenue may dip by nearly 10 percent, and the country may have to deal with some budgetary shortfall.

At 1.875 million barrels per day, Nigeria still maintains its spot as Africa’s largest oil producer.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending this week

To Top
Loading...