Shell Nigeria Exploration and Production Co. has engaged a one-well option for Borr Drilling’s Nattjackup rig offshore Nigeria.
Borr disclosed this in its recent contracting updates.
This should keep the rig contracted to Shell through early August 2027.
Borr has also received a binding letter of award for its Norve jackup from an undisclosed operator offshore West Africa. The estimated 245-day program, including three confirmed wells, is due to start in mid-December, keeping the rig contracted through next August.
There are further priced options for an additional 175 days of work.
In Europe, another unnamed operator has taken the Joro jackup for accommodation duties in UK waters, with a likely start date in mid-October.
The firm duration is 60 days, with priced options for an additional 56 days.
Meanwhile, Shell sees a $5 billion opportunity in Nigeria’s offshore Bonga North oil project and has pledged to spend another $1B within the next 10 years to boost natural gas production for domestic supplies and exports.
Shell has “an imminent $5B investment opportunity in the project, and wants to continue and build a pipeline of new investments in Nigeria.
Oil production in Nigeria has been in decline for years, hurt by theft and sabotage, but has picked up in recent months, helped by offshore production that is less prone to attacks.
Bonga North is a conventional oil development located in deepwater in Nigeria and is operated by Shell Nigeria Exploration & Production.
According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, Bonga North was discovered in 2005, lies in block OML 118 (OPL 212P), with water depth of around 3,346 feet.
SOURCE: Oriental News Nigeria
