It is aiming to award the contract and start the work somewhere between the third quarter of 2025 and the second quarter of 2026.
“The claimants’ lawyers spent five years and eight hearings to pursue this matter, disregarding the court’s time and costs. With no further right of appeal, this judgment brings an end to the claims here in England," a Shell representative said.
Analysts at investment banking group Jeffries expects subsea and offshore contract awards to rise by 10% through 2022, despite quarterly declines early in the year.
Shell paid $$4.48 billion to the Nigerian government in tax payments in 2020, with the West African state slipping into second place after Norway.
Nigerian National Petroleum Corp. (NNPC) has signed an agreement with its partners on OML 118, home of the Bonga field.
Norway’s TMC Compressors will provide a complete offshore topside compressed air system to the Bonga Main vessel offshore Nigeria.
Akselos has celebrated the launch of a “digital twin” for Shell’s Bonga floating production, storage and offloading (FPSO) vessel.
An attack has taken place on a floating facility offshore Nigeria, Dryad Global has reported, saying as many as 11 people may have been kidnapped.
Shell’s Bonga field completed maintenance last week and is ramping production back up, despite some isolated cases of coronavirus.
The Covid-19 pandemic has increased the number of oil and gas assets being put up for sale globally past 12.5billion barrels in reserves, according to new analysis.
Many new projects in Africa will be delayed as a result of the oil price drop, Rystad Energy has said.
Oil major Shell said it has launched the start-up of production from the Bonga Phase 3 project in Nigeria. The Bonga Phase 3 is an expansion of the Bonga Main development, with peak production expected to be some 50,000 barrels of oil and 150 million standard cubic feet of gas per day. The field has been producing oil and gas since 2005 and was Nigeria's first deepwater development in depths more than 1,000 metres.