Royal Dutch Shell said it will decide whether to go ahead with the development of Bonga Southwest offshore oilfield in Nigeria’s Niger Delta.
Quoting Reuters News, a senior executive at Shell, the company projected that it will generate profit at below $50 a barrel
Shell said it is currently negotiating a production sharing contract with the Nigerian government which will determine the viability of the project, he said. The negotiations are expected to finish this year.
The oil giant operates the project and ExxonMobil, Total, Eni and the Nigerian National Petroleum Company are partners.