Discover the six major liquid projects set to transform Nigeria’s energy sector by 2030, involving key players like ExxonMobil, Shell Plc, Eni, and Optimum Petroleum.
Nigeria’s energy sector holds promise with upcoming transformative liquid projects.
Data from the Q2 2023 State of African Energy Report by the African Energy Chamber reveals six major pre-2030 liquids final investment decisions (FIDs) that are set to transform Nigeria and spur capital expenditure (CAPEX) and greenfield investments throughout the decade.
A Focus on Sub-Saharan Africa (SSA)
The report primarily emphasizes oil and gas projects in Sub-Saharan Africa, particularly focusing on West Africa, spanning from Nigeria to Namibia.
Conversely, upcoming gas projects are located on the eastern side of Africa, notably including extensive liquefied natural gas (LNG) projects in Mozambique and Tanzania, alongside PolyGCL’s project in Ethiopia.
Key Players and Projects
International oil majors such as ExxonMobil, BP, Shell Plc, and TotalEnergies operate a majority of these significant pre-2030 FIDs across Africa.
The projects identified in Nigeria by the report are as follows:
Bosi by ExxonMobil
ExxonMobil operates the Bosi project.
The final investment decision (FID) for Bosi will be taken in 2028, with the project startup slated for 2032.
This project encompasses liquids and gas, boasting a capacity of 795 million barrels of oil equivalent.
Bonga SW Aparo by Shell Plc
Shell Plc operates the Bonga Southwest Aparo project.
The FID for this project is expected in 2026, and the project startup will be in 2030.
Bonga SW Aparo is a purely liquid project with a capacity of 630 million barrels of oil equivalent.
Owowo West by ExxonMobil
The Owowo West project, operated by ExxonMobil, is expected to have its FID in 2027, with the project startup in 2026.
It is a purely liquid project with a capacity of 550 million barrels of oil equivalent.
Etan – ZabaZa
Eni operates the Etan – ZabaZaba project.
The FID for this project is expected in 2028, and the project startup will be in 2032.
Etan – ZabaZaba is both a liquid and gas project with a capacity of 525 million barrels of oil equivalent.
Bonga by Shell Plc
Shell Plc operates the Bonga project. The FID for Bonga is expected in 2026, and the project startup will be in 2030.
It is a purely liquid project with a capacity of 250 million barrels of oil equivalent.
Ogo by Optimum Petroleum
Optimum Petroleum operates the Ogo project. Phase one of Ogo anticipates FID in 2027, with phase two’s FID projected for 2028.
Ogo is a liquid and gas endeavor, with a 250 million barrel equivalent capacity.
These six projects will propel Nigeria’s economic expansion, drawing investments that amplify impacts beyond oil and gas, fostering holistic economic growth.
Amid Nigeria’s economic diversification, these projects’ triumph is pivotal for energy security and overall economic steadiness.
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What are the key liquid projects set to transform Nigeria by 2030?
The key liquid projects include Bosi by ExxonMobil, Bonga SW Aparo by Shell Plc, Owowo West by ExxonMobil, Etan – ZabaZaba by Eni, Bonga by Shell Plc, and Ogo by Optimum Petroleum.
Who are the main participants in these projects?
The key participants in these projects are ExxonMobil, Shell Plc, Eni, and Optimum Petroleum.
What impact will these projects have on Nigeria’s economy?
These projects will bolster Nigeria’s economy by driving growth in its oil and gas sectors, exerting influence on associated industries, and contributing to overall economic stability.
When are the final investment decisions (FIDs) expected for these projects?
The FIDs for these projects are expected between 2026 and 2028.
What is the capacity of these projects?
The capacity of these projects ranges from 250 million barrels equivalent to 795 million barrels of oil equivalent.