Nigeria TV Info — President Tinubu Applauds Shell’s $2 Billion Gas Investment in OML 144

President Bola Ahmed Tinubu has welcomed the announcement of Shell’s $2 billion Final Investment Decision (FID) for a new gas development project in the shallow offshore HI Field, located in OML 144.

The Non-Associated Gas (NAG) project is expected to deliver around 350 million standard cubic feet of gas per day (mmscf/d) from 2028, meeting nearly a third of the gas requirements for Nigeria LNG Limited’s Train 7 project.

In a statement released on Tuesday by the President’s spokesperson, Bayo Onanuga, it was highlighted that this latest FID brings total upstream investment commitments through FIDs in Nigeria’s oil and gas sector to over $8 billion since President Tinubu assumed office in 2023. The figure reflects growing confidence from international investors and the success of the administration’s reform agenda.

President Tinubu emphasized his administration’s commitment to fostering an enabling environment for both domestic and foreign investors.

“This major FID announcement by Shell, their second in one year, is a clear validation of our wide-ranging reform efforts and a signal to the world that Nigeria is fully open for business and investment,” the President said.

This latest investment marks Nigeria’s third major oil and gas FID in the past 18 months, following the Ubeta Non-Associated Gas project and the Bonga North deepwater project. Together, the Ubeta and HI gas projects are expected to supply up to 15 percent of NLNG’s total feedgas requirements, covering Trains 1 through 7, further bolstering the country’s domestic and export gas capacity.