THE BONGA SOUTH-WEST APARO PROJECT
The project could reshape Nigeria’s energy oil future, reckons SALIHU ONIMISI After more than two decades of delays, negotiations and uncertainty, one of Nigeria’s most ambitious deepwater oil projects is moving
After over two decades of delays and uncertainties, the Bonga South-West Aparo (BSWA) project in Nigeria is moving closer to reality. With an estimated potential lifetime investment of $21 billion, the project could reshape Nigeria's energy oil future and serve as a test of the country's ability to attract large-scale energy investments.
The project, which spans offshore acreage within Nigeria's deepwater petroleum province, has been caught in a cycle of delays due to changes in government, evolving fiscal policies, prolonged negotiations, commercial disputes, and the global energy transition. However, recent developments, including the execution of addenda to the Oil Mining Lease (OML) 118 Production Sharing Contract (PSC) and the Dispute Settlement Agreement (DSA), have provided renewed momentum for the project.
The agreements, executed in August 2026, establish the conditions required for the partners to proceed towards Final Investment Decision (FID), signaling a broader restoration of confidence in Nigeria's upstream petroleum sector.
Brief written by urgent.news from This Day's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
