The History of Shell in Nigeria

First Steps 

• 1936 - The Royal Dutch/Shell Group founded Shell D'Arcy, the first Shell company in Nigeria.
• November 1938 - Shell D'Arcy was granted Exploration licence to prospect for oil throughout Nigeria
• January 1956 - First successful well drilled at Oloibiri by Shell D'Arcy
• April 1956 - Changed name to Shell-BP Petroleum Development Company of Nigeria Limited

First Oil

• February 1958 – The first shipment of oil from Nigeria
• April 1961 - Shell's Bonny Terminal was commissioned
• September 1971 - Shell's Forcados Terminal was commissioned

Agreements

• April 1973 - First participation agreement; Fed. Govt. acquires 35% shares in the Oil Companies
• April 1974 - Second Participation Agreement; Federal Government increases equity to 55%
• July 1979 - Third Participation Agreement (through NNPC) increases equity to 60%
• August 1979 - Fourth Participation Agreement; BP's share holding nationalised; NNPC = 80%, Shell = 20%