Friday, May 21, 2010

Nigerian oil project 'almost complete'

A new project in the Niger Delta that could see oil production increase by 70,000 barrels per day is close to completion, according to Shell.

The Gbaran-Ubie scheme has seen around 30 new wells established, as well as a new processing facility, AFP has reported. The company has claimed local infrastructure will be a key beneficiary, with hospitals, schools and roads set for improvement as a result.

In a statement, project manager Okee Elechi said the new facilities will "provide more energy for Nigerians", adding: "The Gbaran project is a world-class development that will boost Nigeria's oil and gas resources significantly."

Work commenced on the project five years ago and is expected to finish by next year at the latest. Over 300 kilometres of pipelines had been laid by the end of 2009.

Last month, Shell revealed its first-quarter profits had increased by 57 per cent to $5.48 billion (£3.28 billion), driven by high oil prices and demand.

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