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SNEPCO's Bonga floating, production, storage and offloading (fpso) vessel

SNEPCO's Bonga floating, production, storage and offloading (fpso) vessel

Changes

  • December 1979 - Company name changed to Shell Petroleum Development Company of Nigeria (SPDC)
  • August 1984 - Agreement consolidating NNPC/Shell Joint Venture
  • January 1986 - Signing of Memorandum of Understanding (MOU)
  • June 1989 - Fifth Participation Agreement; (NNPC = 60%, Shell = 30%, Elf = 5%, Agip = 5%)
  • July 1991 - Signing of Memorandum of Understanding & Joint Venture Operating Agreement

New Frontiers

  • April 1993 - Production Sharing Contracts signed - SNEPCO
  • July 1993 - Sixth Participation Agreement; (NNPC = 55%, Shell = 30%, Elf = 10%, Agip = 5%)
  • April 1995 - SNEPCO starts drilling first Exploration well at Bonga (Nigeria's first deepwater oil field)
  • November 1995 - NLNG Final Investment Decision taken
  • March 1998 - Shell Nigeria Gas Company established
  • December 2002 - Commencement of production from EA field

One Million Barrel Mark

  • October 2003 - Achievement of 1 million + barrels of oil per day production from SPDC operations.

A New Face of SPDC

  • January 2004 - THE NEW SPDC - A restructuring exercise; Nigerians placed in top positions of Management.
  • January 2005 - New SPDC launched, Basil Omiyi appointed first Nigerian MD.
  • September 2005 -  Basil Omiyi became Country Chair, Nigeria; oversees all Shell Companies in Nigeria as well as Shell interests.
  • November 2005 - SNEPCO began oil and Gas production at Bonga