Nigeria advances energy sector via IEA partnership and major oil project

Nigeria is advancing its energy sector through new international partnerships and major deepwater oil developments. The country has entered into a Joint Work Programme with the International Energy Agency (IEA) following its admission as an Association country. This partnership aims to enhance cooperation on energy security, investment, data, efficiency, and clean cooking, while providing technical expertise and policy advice to Nigerian institutions.

Simultaneously, the Bonga South-West Aparo (BSWA) deepwater project is moving toward a Final Investment Decision. After two decades of delays, NNPC Limited and partners including Shell Nigeria Exploration and Production Company Limited, Esso Exploration and Production Nigeria, and Nigerian Agip Exploration have executed agreements to unlock the project. The BSWA project is estimated to attract between $15 billion and $21 billion in lifetime investment, potentially signaling restored confidence in Nigeria’s upstream petroleum sector.