Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell plc, has approved a $2 billion investment in a new offshore gas development project in Nigeria, marking a major step forward for the country’s energy sector.
The company announced on Monday that it had reached a final investment decision (FID) on the HI offshore gas project located in Oil Mining Lease (OML) 144. The decision was made in partnership with Sunlink Energies and Resources Limited, reflecting Shell’s continued confidence in Nigeria’s oil and gas potential despite persistent industry challenges.
According to Shell, the HI project — situated in the shallow offshore region — is expected to enhance domestic gas supply, support energy transition goals, and generate significant economic benefits through local content participation and job creation.
While full project details are yet to be disclosed, energy analysts say the investment represents one of the largest offshore gas commitments in Nigeria in recent years, coming at a time when the federal government is intensifying efforts to boost gas production and reduce reliance on imported fuels.
