The Nigerian President has approved a targeted fiscal incentive designed to unlock the Final Investment Decision (FID) on the Bonga Southwest Aparo (BSWA) deepwater oil project (NNPC press release, 10/03/2026). The approval followed months of technical and commercial negotiations involving NNPC Limited as the concessionaire and the Nigeria Revenue Service (NRS).
The Bonga Southwest project will be the first FID on a Nigeria deepwater Production Sharing Contract asset since 2008. The Bonga Southwest Aparo project, operated by Shell, will deliver 150,000 bbl/d of crude oil and 140 mcf/d of gas (1.4 bcm/year) upon completion.