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Article: NIGERIA: PLANS FOR $1,000,000,000 OFFSHORE OIL FIELD DEVELOPMENT PROJECT, SHELL PETROLEUM DEVELOPMENT CO. [NIGERIA/NETHERLANDS-UK] - Order #: 126099.
- Article from:
- WWP-Business Opportunities in Africa & the Middle East
- Article date:
- December 1, 1999
CopyrightCOPYRIGHT 1999 Worldwide Projects, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PROJECT OVERVIEW
The ROYAL DUTCH/SHELL GROUP of the Netherlands/UK recently announced the nature and scope of its planned $8,500,000,000 investment plans for Nigeria. In so doing, SHELL is reportedly focusing its attention on offshore developments instead of the more politically troubled onshore Niger Delta.
In any case, the company announced that it was proposing to invest $1,000,000,000 in order to develop its "EA" offshore oil field. In so doing, the project is expected to be entirely funded by private, undisclosed, joint venture partners. Operating plans envision producing at a rate of 120,000 barrels per day by the year 2002.
The ROYAL ...
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