Abuja: The Federal Government has welcomed Shell Nigeria’s $2 billion Final Investment Decision (FID) for a new offshore project in Nigeria’s HI Field, located in Oil Mining Lease (OML) 144, approximately 50 kilometres offshore.

According to News Agency of Nigeria, the significant investment was communicated to the Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, by the Country Chair of Shell Nigeria, Mr Marno de Jong. A statement by Nneamaka Okafor, Special Adviser, Media and Communications to the Minister, said the development represented another major milestone in the nation’s ongoing efforts to strengthen the energy sector and boost production.

The FID was taken out between Shell Nigeria Exploration and Production Company (SNEPCo) and Sunlink Energies Resources Limited. It marks a strong demonstration of confidence in Nigeria’s oil and gas investment climate and the government’s commitment to driving sustainable energy growth.

Lokpobiri described the development as a direct outcome of the bold reforms and transformative policies implemented by the Federal Government, which continued to enhance investors’ confidence and attract substantial capital inflows into the oil and gas industry. He expressed optimism that more Final Investment Decisions from other investors would follow in the coming months as confidence in the sector continues to grow.

He reiterated the Federal Government’s commitment to fostering an enabling environment for investment, ensuring that the benefits of such strategic partnerships translate into increased national prosperity and sustainable energy development.