The Federal Government has confirmed Shell Nigeria’s Final Investment Decision (FID) on a new $2 billion offshore oil project in the HI Field, located within Oil Mining Lease (OML) 144, about 50 kilometres off the coast.
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, announced the development in a statement issued by his Special Adviser on Media and Communication, Nneamaka Okafor. He described the move as a major boost to Nigeria’s oil and gas sector.
The FID, reached between Shell Nigeria Exploration and Production Company (SNEPCo) and Sunlink Energies Resources Limited, marks a renewed show of confidence in Nigeria’s investment climate and the government’s reform-driven policies.
Lokpobiri said the decision followed consistent policy reforms designed to attract global capital and improve the ease of doing business in the petroleum industry. “This $2 billion investment reaffirms Nigeria’s position as a preferred destination for energy investment and highlights the value of collaboration between government and industry,” he said.
The minister added that more investment approvals are expected in the coming months as investor confidence continues to strengthen. He emphasised that the administration’s policy focus remains on stability, job creation, and sustainable energy development.
Shell Nigeria’s Country Chair, Mr. Marno de Jong, conveyed the decision to the minister, describing the project as a major milestone in advancing Nigeria’s offshore energy capacity.
The Federal Government reiterated its commitment to ensuring that strategic partnerships such as this contribute directly to national growth, economic diversification, and long-term energy security.
