NNPC, DPR And Shell Reserves

Shell Nigeria Exploration and Production Company (SNEPCO) a Production Sharing Contractor (PSC) and a wholly-owned subsidiary of Shell Petroleum Development Company (SPDC) almost at the same time announced that development costs for the Bonga Deep oil field has risen by 30 percent to $3.5 billion. The field is estimated to hold 1.0 billion barrel of oil and was initially planned to cost $2.7 billion. It was to come on stream in the last quarter of 2003 but is now expected to start production mid 2005 – almost two years behind schedule with a massive cost overrun of almost $1.0 billion.

AllAfrica.com