Shell assessing $4 bln Nigeria oil projects |
| Reuters - Apr 18, 2012 |
Royal Dutch Shell Plc is assessing projects that could be worth around $4 billion to boost oil production in Nigeria and cut flaring of associated natural gas, Chief Executive Peter Voser said in comments published on the company's website.
The projects should be completed by 2015, he said.
Oil companies such as Shell have been criticized for flaring gas instead of trapping it to sell as liquefied natural gas (LNG) or to supply to Nigeria, which suffers huge power shortages despite being Africa's top energy producer.
Voser did not give details of the projects but said their completion would be subject to approval by Shell's partners and security in the volatile Niger Delta, where Shell operates.
"Shell is assessing new projects for onshore Nigeria, which will add new production and reduce flaring. These projects could cost some $4 billion," he said during a speech at a London event on sustainable energy the firm put up on its website.
Read Full Article from Reuters
- Posted: 2012-04-18 15:22:59
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