Shell, TotalEnergies Unveil Massive Investment Plans in Nigeria, Highlight $5 Billion Projects and Local Content Gains

YENAGOA – Nigeria’s oil and gas sector is set to witness a significant boost, with Shell and TotalEnergies unveiling major investment plans that promise to revitalize the industry and expand opportunities for local content development. The announcements were made during the ongoing Nigerian Oil and Gas Opportunity Fair (NOGOF) 2025, organized by the Nigerian Content Development and Monitoring Board (NCDMB), under the theme, “Driving Investment and Production Growth: Shaping Sustainable Future for Nigeria Oil and Gas Industry through Indigenous Capacity Development.”

Shell Nigeria Exploration and Production Company Limited (SNEPCo) revealed that following its $5 billion Final Investment Decision (FID) on the Bonga North deepwater project in December 2024, it will proceed with FID on the Bonga Southwest project by 2027.

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Mr. Charles Oranyeli, General Manager, Contracting and Procurement at SNEPCo, detailed the company’s extensive project pipeline, noting that the Bonga series—comprising Bonga Main, Bonga North, and the forthcoming Bonga Southwest—hold immense economic potential for Nigeria.

Oranyeli disclosed that Shell plans to extend the life of the Bonga Main asset through a Turn-Around Maintenance (TAM) scheduled for early 2026, which will help extend the field’s productive life by 15 more years. “During the TAM, we’ll address critical systems, aiming to get Bonga back to its peak production of 225,000 barrels per day,” he said.

The Bonga projects, located within Oil Mining Lease (OML) 118, are also opening doors for local contractors in areas such as vessel and barge supply, helicopter services, hotel logistics, and security provision.

Furthermore, Shell is evaluating new prospects in OML 135, which is still in its feasibility phase, and the shallow water H1 asset in OML 144—developed in joint venture with Sunlink. These projects promise more contracts for indigenous firms in well drilling, re-entry operations, and infrastructure utilization.

TotalEnergies Optimistic About Multiple Projects, Eyes FID on Ntokon by 2027

In a parallel presentation, TotalEnergies EP Nigeria’s Deputy General Manager for Nigerian Content, Mr. Cyprian Ojum, provided a comprehensive review of the company’s current and upcoming projects, reaffirming its strong commitment to local capacity development.

Ojum announced that the company is optimistic about securing an FID on the recently discovered Ntokon offshore field, located in OML 102 southeast of Port Harcourt. The field, similar in profile to the $750 million Ima shallow water gas project, is in the consultation phase with the federal government and regulatory bodies like the NCDMB and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

TotalEnergies has built a strong reputation for local content achievement in past projects. Notable among these is the Egina field, Africa’s largest FPSO development hosted in Nigeria, which recorded an impressive 67% Nigerian content participation.

“We involved Nigerian-made goods, services, procurement, construction, and manpower across all phases of the Egina project,” Ojum said. “That’s a big win for Nigerian content.”

Ojum also highlighted the company’s achievements with other high-profile projects: Ikike (90% Nigerian content), Usan (60% Nigerian content), and the OML 58 upgrade and Ofon Phase 2—all of which featured robust participation by Nigerian contractors, fabricators, and consultants.

One standout initiative is the Ubeta project, which reached FID in 2024. It involves building a pipeline to transport gas to a processing plant that supplies Nigeria Liquefied Natural Gas (NLNG), further aligning with Nigeria’s gas expansion ambitions.

On the $750 million Ima project, Ojum stated that it is located about 20 km from the Bonny Oil and Gas Terminal and is expected to contribute significantly to NLNG’s Train 7 expansion. Like Ntokon, Ima presents major opportunities for local firms across engineering, fabrication, logistics, marine services, and consulting.

“The goal is to ensure Nigerian companies and professionals are at the forefront of oil and gas developments,” he said. “We are looking at creating jobs, building expertise, and strengthening the supply chain.”

Both Shell and TotalEnergies emphasized that these projects are aligned with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act of 2010, which seeks to build indigenous capacity and promote economic inclusion within the sector.

The announcements were well-received at NOGOF 2025, with stakeholders praising the renewed investment momentum and the strategic focus on local content. With several billion dollars in the pipeline and Nigerian contractors poised to benefit, the future of the industry is one of renewed optimism and inclusive growth.