Posted by News Express | 15 February 2019 | 1,347 times
Shell Nigeria Exploration and Production Company (SNEPCo) has announced the release of Invitation to Tender (ITT) to contractors for the development of the Bonga South West Aparo (BSWA) oil field. The project’s initial phase includes a new Floating, Production, Storage and Offloading (FPSO) vessel, more than 20 deep-water wells and related subsea infrastructure. The field lies across Oil Mining Leases 118, 132 and 140, about 15km southwest of the existing Bonga Main FPSO.
The ITT is for engineering, procurement and construction contracts for the 150,000 barrels per day project in the Gulf of Guinea.
“This is a new vista for deep offshore oil and gas exploration in Nigeria based on a revised commercial framework embraced by government and the project investors,” SNEPCo’s Managing Director, Bayo Ojulari, said on Thursday, 14 February, 2018 a day after the execution of the Heads of Terms by the Nigeria National Petroleum Corporation (NNPC), SNEPCo and its Unit partners, revising the terms of the OML 118 Production Sharing Contract.
Ojulari said, “SNEPCo has concluded OML 118 negotiations with the NNPC. We now have a clear commercial framework, supported by the government and project investors, toward a potential Bonga South West Aparo Final Investment Decision (FID).”
Ojulari described the conclusion of the commercial framework as a key milestone for the project and the development of Nigeria’s deep-water oil and gas industry. “The new framework marks the start of the second generation of deep-offshore exploration and development, not just for SNEPCo but for all players in Nigeria’s deep water. This is a model that we see being replicated in the industry to further unleash Nigeria’s potential in deep-water exploration.”
On the estimated project cost, SNEPCo’s General Manager for BSWA, Adam Bradley said, “The release of ITT will allow ourselves, government and investing parties to understand the actual costs for the initial phases which we expect will be very competitive.”
•Photo shows, L-R; Managing Director ExxonMobil Nigeria, Paul McGrath; Managing Director, Nigeria Agip Oil Company, Lorenzo Fiorillo; Managing Director, The Shell Petroleum Development Company of Nigeria and Country Chair, Shell Companies in Nigeria, Osagie Okunbor; Managing Director, Shell Nigeria Exploration and Production Company, Bayo Ojulari; Chief Operating Officer Upstream, Nigeria National Petroleum Corporation (NNPC), Bello Rabiu; NNPC’s Chief Operating Officer Gas and Power, Saidu Muhammad; Managing Director, Total Exploration and Production Nigeria, Nicholas Terraz; and NNPC’s Group General Manager, Corporate Planning and Strategy, Bala Wunti, at the execution of the Heads of Terms for Bonga South West Aparo deep-water oil and gas field in Abuja… on Wednesday.
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