IOCs announce investment in new projects in Nigeria, but plan further onshore sales
- 28 Jun 2013
Although the development of deep water and gas has not been forthcoming in recent years due to the continued hold-up of the Petroleum Industry Bill (PIB) and its proposed new fiscal regime, two majors have announced big investments, with Total planning the development of the offshore Egina field at a cost of some $15bn, and Shell Petroleum Development Company (SPDC) taking final investment decisions on the Trans Niger Pipeline Loop-line (TNPL) and the Gbaran-Ubie Phase Two project at a combined cost of $3.9bn.
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