The Bonga Southwest/Aparo (BSWAp) deepwater project has moved a major step closer to Final Investment Decision (FID) following the signing of new contractual agreements between the Nigerian National Petroleum Company Limited (NNPC Ltd) and the project’s contractor partners.
The parties executed addenda to the OML 118 Production Sharing Contract (PSC) and the Dispute Settlement Agreement (DSA), formally putting in place the fiscal and commercial framework required to advance the long-awaited development.
The agreements were signed by NNPC Ltd, Shell Nigeria Exploration and Production Company Limited (SNEPCo), Esso Exploration and Production Nigeria (Deepwater) Limited, and Nigerian Agip Exploration Limited (NAE).
NNPC Chief Corporate Communications Officer, Andy Odeh, said the agreements represent a significant milestone in the development of BSWAp and reinforce the Federal Government’s efforts to attract major investments into Nigeria’s deepwater oil and gas sector.
The project is expected to rank among the country’s largest deepwater developments, with estimated investment of between $15 billion and $21 billion over its lifetime. At peak production, BSWAp is projected to deliver approximately 175,000 barrels of oil per day, alongside 140 million standard cubic feet of gas per day.
Speaking on the development, NNPC Group Chief Executive Officer, Bashir Bayo Ojulari, said the agreements demonstrate the impact of the Federal Government’s ongoing reforms in converting policy measures into tangible investment opportunities.
According to him, the milestone represents more than the advancement of a single project, as it also signals Nigeria’s determination to establish a competitive fiscal environment capable of supporting major long-term investments in the energy industry.
Ojulari said NNPC would continue collaborating with the Federal Government, project partners and other stakeholders to ensure that the development delivers substantial value to Nigeria and its citizens.
In a further boost to the project, the contractor parties have completed the Pre-Front End Engineering Design (Pre-FEED) stage. The completion of the phase has helped refine the technical and commercial parameters of the development and prepares the project for the next stage of engineering.
The BSWAp project is now positioned to progress into the Front End Engineering Design (FEED) phase, subject to the necessary partner approvals, assurance processes and governance requirements.
With the contractual framework now strengthened and Pre-FEED completed, attention will increasingly turn to the remaining technical, commercial and investment milestones required to bring the major deepwater development to FID.
If you want, I can also rewrite it in a Punch/Vanguard-style Nigerian newspaper format, with a sharper headline and more concise paragraphs.
Bonga South-West Aparo: NNPC Targets Up to $21bn Investment
