Shell declares long term partnership with big project outlay
- Pledges support for Nigeria’s energy plans
Sopuruchi Onwuka
Multinational oil major, Shell, is pointing at its list of upcoming projects and rising stake in operated ventures to convince its Nigerian stakeholders that it remains in the country for the long term despite predictions that the company is working to exit the country.
The Oracle reports that rumours have been strong that Shell and some other international oil companies that have divested their business portfolios in conventional terrains are actually scaling down their presence as an exit strategy.
Shell has also gradually reduced the number of Nigerian CEO managing its strategic assets in the country.
However, the new Managing Director of Shell Nigeria Exploration and Production Company Ltd (SNEPCo), Ronald Adams, argued vehemently last week in Abuja that Shell would continue to explore opportunities to invest in Nigeria’s aspiration to achieve energy abundance.
Adams who participated in a panel debate at the 2025 Nigeria Oil and Gas (NOG) Energy Week in Abuja, stated that the company has continued to demonstrate confidence in its partnership with Nigeria through its prevailing acquisition of greater stakes in operated assets and robust plans for multiple investments in immediate and future projects.
He pointed at the expansion of Shell’s stake in the Bonga field, the final investment decision (FID) on operated Bonga North, Bonga Southwest and HI deepwater oilfield as Shell’s vote of confidence in the future of Nigeria.
He however did not provide specific time frames for the investment outlook.
Discussions at the panel session were based on the theme, “Pragmatically Achieving Energy Abundance,” and featured chief executives of oil companies and government functionaries who proposed steps towards achieving energy sufficiency as Nigeria targets net-zero emissions from fossil fuel by 2050.
Ronald said SNEPCo would build on its contributions to energy abundance by becoming more efficient and improve value across the value chain by working closely with the Nigerian Upstream Investment Management Services (NUIMS) and other stakeholders. “There is a requirement for us to push the envelope. We cannot rest on our oars,” he said.
He explained that Nigeria can achieve the ambition of net-zero emissions and at the same time provide cost-effective and efficient energy for a rising population by optimizing investments in hydrocarbon energy sources and quick renewable opportunities.
On the efforts of Shell towards net-zero emissions, the Managing Director said the company’s refreshed Powering Progress strategy aims to accelerate the transition “purposefully and profitably to low-carbon businesses by the early 2030s.”
He added: “It is important that government continues to support these efforts and those of other industry players through the right polices and creation of conducive environment for businesses to thrive.”
