Shell completes acquisition of increased interest in Bonga field

Shell (SHEL) Nigeria Exploration and Production Company, a subsidiary of Shell plc, has completed the previously announced agreement to increase interest in Nigeria’s deep-water Bonga field and increased its stake in the OML 118 Production Sharing Contract from 55% to 65%. “Following our final investment decision on Bonga North last year, this acquisition represents another significant investment in Nigeria deep-water, and is part of Shell’s strategy to further invest in competitive existing assets that contribute to sustained liquids production and growth in our Upstream portfolio,” the company said.