Country
Nigeria
Sector
Oil & Gas
Intelligence Type
Project
Status / Stage
Under Feasibility
Estimated Value
USD Billion 10
Confidence
Reported
Latest Development
Shell Nigeria’s Bonga South West (BSW) in OML 118 targets 150,000 bopd and is estimated at $10bn. FID delayed repeatedly since 2020 over fiscal terms and technical disagreements. SNEPCO issued pre-qualification for Drilling System Services in August 2026 — the first procurement signal in several years.
Project Details
Project TypeDeepwater oil development (FPSO) — 150,000 bopd
Project OwnerSNEPCO (55%, operator); TotalEnergies (12.5%); NAE (12.5%); EEPNL (20%)
Project DeveloperShell Nigeria (SNEPCO)
Current PhaseFeasibility
Funding StatusUnfunded
Key Issues / Risks
FID delayed since 2020. PIA 2021 deepwater fiscal regime not yet agreed. Shell's stated intent to exit Nigerian onshore adds uncertainty.
Latest Development (Detail)
SNEPCO pre-qualification for Drilling System Services issued August 2026 — first procurement signal in years.
What Happens Next
Fiscal terms agreement between Shell and Nigerian government — the FID enabler.
Commercial Opportunity
$10bn deepwater procurement programme — subsea, FPSO, drilling, pipeline, commissioning.
Commercial Opportunity Intelligence
Commercial ReadinessEarly
Source & Verification Trail
Last VerifiedAugust 2026
Source(s)NigerianTenders.com August 2026; Africa Oil Gas Report; Shell Nigeria investor presentations
Source DateAugust 2026