Shell Strengthens Bonga Project With Temis Flotel Partnership

Shell plc’s SHEL affiliate,Shell Nigeria Exploration and Production Company (“SNEPCo”), has awarded a major contract to Nortrans and Temile Development Company to support the Bonga deepwater project. The TEMIS 500-pax DP3 Maintenance and Safety Unit flotel will provide vital offshore accommodation and support services during upcoming maintenance activities.

The Temis Flotel’s deployment in Nigeria comes after SNEPCo acquired TotalEnergies’ 12.5% interest in the OLM118 production sharing contract (PSC). The Bonga field is located within the OLM118 PSC offshore Nigeria, around 120 kilometers to the south of the Niger Delta.

Strengthening Partnerships in Nigeria

This collaboration highlights Shell’s long-standing partnership with Temile Development Company, a trusted leader in Nigeria’s maritime and energy sector. By working alongside Temile and Nortrans, Shell is reinforcing its commitment to safe, reliable and efficient offshore operations while contributing to Nigeria’s local capacity and expertise.

Delivering Safe & Efficient Operations

Once its current work in Brazil concludes, the Temis Flotel will mobilize to West Africa to begin operations at Bonga. The vessel’s advanced capabilities will play a key role in maintaining one of Nigeria’s most important deepwater assets, furthering Shell’s mission of sustaining energy security while upholding the highest safety standards.

SHEL’s Bonga North Project

Shell’s upstream portfolio has the potential to deliver benchmark performances through opportunities like the Nigerian Bonga project, enhancing its technical expertise and a model built on strong partnership and simplification.

Bonga is a deep-water development located at water depths of more than 1,000 meters. The original Bonga Floating Production Storage and Offloading (FPSO) has been in production since 2005 with a capacity of around 225,000 barrels of oil per day.

The Bonga North project involves the drilling and completion of about 16 wells. Out of which, eight will be production wells and the remaining will serve water injection purposes. Under the project, Shell will also enhance the existing main FPSO along with the installation of new subsea hardware.

SHEL’s Zacks Rank & Key Picks

London-based Shell is one of the primary oil super-majors — a group of the U.S. and Europe-based big energy multinationals with operations that span almost every corner of the globe. Currently, SHEL has a Zacks Rank #3 (Hold).

Investors interested in the energy sector might look at some better-ranked stocks like Canadian Natural Resources Limited CNQ, Antero Midstream Corporation AM and Enbridge Inc. ENB. While Canadian Natural sports a Zacks Rank #1 (Strong Buy) at present, Antero Midstream and Enbridge carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

Calgary-based Canadian Natural is one of the largest independent energy companies in Canada engaged in the exploration, development and production of oil and natural gas. The Zacks Consensus Estimate for CNQ’s 2025 revenues indicates 5.4% year-over-year growth.

Denver, CO-based Antero Midstream is a leading provider of integrated and customized midstream services. The Zacks Consensus Estimate for AM’s 2025 earnings indicates 20.5% year-over-year growth.

Calgary, Alberta-based Enbridge is a leading energy infrastructure company engaged in the transportation of energy through the most extensive and advanced crude and liquids pipeline system. The Zacks Consensus Estimate for ENB’s 2025 earnings indicates 9.5% year-over-year growth.

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This article originally published on Zacks Investment Research (zacks.com).

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