Shell, Agip plan to invest $21bn in Bonga oil field

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According to a confidential document, Royal Dutch Shell and Italy’s Agip plan to spend about $21 billion on Nigeria’s Bonga oil field, Oriental News reports.

Agip will invest about $10 billion while Royal Dutch Shell will spend between $10 billion-$11 billion on the field. The document indicated that those areas of the field to be invested in by Agip and Shell are reserved and “dedicated” projects on the Bonga oil field.

The Bonga Field is located in license block OPL 212, off the Nigerian coast, which was renamed OML 118 in February 2000. The field, operated by Shell Nigeria, has ExxonMobil, Nigerian Agip and Total Nigeria as partners. Shell owns 55 percent of the license, ExxonMobil, 20 percent; Nigerian Agip, 12.5 percent and Total Nigeria, 12.5 percent.