Shell Nigeria turns to Gas as Future of Oil Remains Uncertain

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Shell Nigeria has revealed that it is turning its attention to gas as the future of oil remains largely uncertain.

The oil exploration firm confirmed yesterday that it is was exploring the possibility of investing in a gas project within the country’s South-East region.

Osagie Okunbor, the Managing Director of Shell Petroleum Development Company of Nigeria (SPDC), said the oil company was on the verge of taking an investment decision regarding a project in the south-eastern city of Asa, Abia State.

The Asa field is predicted to hold a capacity of 300 million cubic feet of gas reserves.

He, however, declined to disclose the amount of money it plans on investing in the project.

Given the uncertainties facing global oil prices, Okunbor said Shell would pay more attention to gas while scaling down its interests in the oil sector.

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