Edit Content

Shell Petroleum Targets 2,400 Megawatts Of Electricity In New Gas Project

Shell Petroleum

Shell Petroleum, world’s fifth-largest company by revenue, has announced that its ongoing Assa North/Ohaji South gas development in Imo State will generate about 600 million standard cubic feet of gas per day, an energy equivalent of about 2,400 Megawatts (MW) of electricity, which is enough to supply uninterrupted power to 2.4 million homes.

Launching the 2018 Shell in Nigeria “Briefing Notes” in Lagos, Managing Director of Shell Petroleum Development Company of Nigeria Limited (SPDC) and Country Chair Shell Companies in Nigeria, Osagie Okunbor, on Monday, revealed that the oil major paid a total of $17.8 billion in form taxes, royalties, and levies to the Nigerian Government between 2014 and 2018.

Okunbor also stated that the oil company contributed $2 billion to Niger Delta Development Commission (NDDC), and expended $239 million under its Global Memorandum of Understanding (GMoU), for the development of host communities.

Start Your Business in 30 Days Even If You Don't Have An Idea
Start Your Business in 30 Days Even If You Don’t Have An Idea

The Target For Increased Power Generation And Industrialisation.

Beside the completion of its invitation to tender (ITT), the company said it was about taking a Final Investment Decision (FID) on the $10 billion Bonga South-West Aparo project.

In his statements, he said, “SPDC took the final investment decision on the Assa North/Ohaji South project last December giving a major momentum to the domestic gas aspiration of the federal government for increased power generation and industrialisation.”

Okunbor termed the project a game changer in Nigeria’s pursuit for energy sufficiency and economic growth.

Giving a summary of the gas production, Okunbor stated that 300 million standard cubic feet of gas per day would be treated at a new gas processing plant owned by the SPDC Joint Venture, while the other 300 million standard cubic feet will go to a proposed gas processing plant by Seplat Petroleum.

In addition, Shell echoed its resolve to support development in Nigeria, by exploring more oil in the deep-water border of the country. Mentioning that 13% of the electricity generated in 2018 came from the 650 megawatts (MW) Afam VI power plant.

Move By Shell To Aid Energy Generation In Nigeria.

The oil firm, however, noted that the Assa project will further support energy generation in the country. This project will further bring about development in the state. Thus, providing an enabling environment for indigenes of the state to benefit from the company’s corporate social responsibility.

However, it can be noted that the epileptic electricity supply in the country has been a major setback experienced by businesses over the years. Therefore, this move by Shell is connected with the federal government’s ambition to increase electricity generation in order to help lower overheads incurred by these businesses.

Shell Petroleum Development And Production Company In Nigeria.

Shell Petroleum Development and Production Company of Nigeria, is one of the world’s foremost energy companies. The oil producing firm plays a significant role in helping to meet the world’s growing energy demand in environmentally, economically and socially responsible ways.

The company has a history of over 5 decades in Nigeria and the largest footmark of all the international oil and gas firms operating in the country.



Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Join Entrepreneurs Family

No spam, only business insights and tips. 

Entrepreneurs Sign Up

Business Registration

Most Popular

Join Entrepreneurs Family

No spam, only business insights and tips. 

Entrepreneurs Sign Up

Related Posts

Financial Management for Entrepreneurs

Financial Management Tips for Entrepreneurs And Business Owners

Effective financial management is a cornerstone for the success of entrepreneurs. As an entrepreneur, managing your finances well can make the difference between thriving and merely surviving in your business. In the Start Your Business in 30 Days programme, we dedicated modules to teaching entrepreneurs about core financial management techniques

Tech Innovations for Entrepreneurs

Tech Innovations for Modern Entrepreneurs To Improve Their Businesses

Staying ahead of the curve is crucial for success in today’s business world. Tech innovations are the driving force behind this progress, transforming how entrepreneurs operate and compete. These tech advancements are not just optional for businesses today; they are essential for survival and growth in a competitive market. Entrepreneurs

Networking for entrepreneurs

The Importance of Networking for Successful Entrepreneurs

Networking for entrepreneurs is a powerful tool that can significantly impact the growth and success of a business. In today’s competitive business environment, building strong connections is more important than ever. That is why we structured the Start Your Business in 30 Days programme in a way that our entrepreneurs

Marketing tips for new entrepreneurs

Marketing Tips for New Entrepreneurs To Boost Their Business

One of the biggest hurdles new entrepreneurs face is effective marketing. Without the right marketing strategies, even the best products or services can go unnoticed. New entrepreneurs need to be equipped with the right marketing tips that will help them stand out. For new businesses to survive, they need great

Scroll to Top

Join Entrepreneurs Family!

Get access to FREE business insights and funding opportunities daily.

Entrepreneurs Sign Up