Shell to Invest $4 Billion in Two Nigerian Oil and Gas Projects
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Royal Dutch Shell Plc, operator of Nigeria’s largest oil fields, agreed to invest about $4 billion with its partners in two oil and gas projects in the country.
The Shell Petroleum Development Co. of Nigeria, which Shell operates as a venture with Eni SpA, Total SA and the government, will develop the Forcados-Yokri project and the Southern Swamp associated gas gathering project, the company said today in a statement. The projects are expected to pump 100,000 barrels and 85,000 barrels of oil equivalent a day at peak, respectively.