Nigeria’s Offshore Revival: How Abuja is Drawing Eni, Shell, and TotalEnergies Back to the Deep

International oil companies Eni, Shell, and TotalEnergies are reportedly showing renewed interest in Nigeria's deep offshore fields, attracted by new tax incentives from Abuja. The incentives, part of a Deep Offshore Oil and Gas Projects Incentives framework approved in August, aim to replace project-by-project negotiations with clearer rules and could unlock up to $50 billion in fresh offshore capital. Shell's Bonga South-West Aparo project is cited as an example of how the framework can facilitate investment. The move is seen as an effort to make Nigeria's deep offshore fields more competitive globally.

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