LONDON (Alliance News) - Royal Dutch Shell PLC on Monday said it has started production from the Bonga Phase 3 project in Nigeria.
The project, handled by its Shell Nigeria Exploration and Production Co Ltd unit, is an expansion of the Bonga Main development in the country, with peak production from the new phase expected to hit around 50,000 barrels of oil equivalent per day.
The Bonga field, which started production in 2005, was the first deepwater development in the country and has produced more than 600 million barrels of oil to date.
"This new start up is another important milestone for Bonga, adding valuable new production to this major facility," said Andrew Brown, Shell's upstream international director.
Shell 'A' shares were up 4.1% to 1,674.00 pence on Monday, while Shell 'B' shares were up 3.7% to 1,681.00 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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