Shell Companies in Nigeria (SCiN)comprising of Shell Petroleum Development Company(SPDC) the largest oil and gas company in Nigeria, Shell Nigeria Exploration and Production Company(SNEPCO) and Shell Nigeria Gas (SNG), have been at the fore front of pivoting the material and human resources of the nation to a higher level.
Shell as a parent body commenced exploration and production of crude oil in Nigeria at Oloibiri, now Bayelsa State in 1958 and that was the country’s first commercial export of the product through SPDC.
The company also accounts for the first deep water production in 2005 from Bonga Floating Production, Storage and Production Vessel (FPSO), operated by SNEPCO. SCiN have been at the forefront of gas development and consumption through producing and delivering gas to domestic and the international market for the product on behalf of the country for over 40 years. They are known to produce oil and gas from land, swamp and shallow water fields in the Niger Delta area of the country and from deep water reserves of about 120 kilometres off the country’s coast.
The companies account for an average of about 700,000 barrels of oil equivalent per day coming for 535,000 barrels per day of SPDC joint venture and about 165,000 barrels per day from SNECO ventures. This was seen as a drop from an overall production of about 949,000 barrels per day in 2012, due to the activities of vandals, militancy and deferments.
The company states that, “SCiN portfolio in Nigeria continues to evolve and changes are designed to enable the Shell group of companies to remain a competitive player in Nigeria for years to come> Nigeria is core part of the Shell group’s upstream business today and of its growth objectives in integrated gas and deep water.
At other areas of its involvement such as the Nigeria Liquefied Natural Gas Company (NLNG), it control 25.6 percent equity whereas the NNPC controls 49 percent, Total 15 percent and Nigeria Agip Oil Company’s (NAOC) upstream arm known as ENI has 10.4percent and at other joint ventures with the NNPC, Total and ENI, it controls 30 percent while others hold 55 percent, 10 percent and Five percent respectively.
The company accounts for about 95 percent revenue of the country from oil and gas and this transforms to about $80 billion in the past five years. In the direct engagement of the company is about 4,000 persons while about 40, 000 others are in one way other engaged by the company and about 95 percent of them are Nigerians.
SCiN has expended about $500 billion on corporate social responsibility (CSR) works in the form of supporting education, small business, agriculture, training, healthcare, and capacity building. It is known to have trained over 6,000 Nigerians, 15,000 benefited from its scholarship programme, built about 30 health facilities, and about 30 percent of Nigeria’s current grid connection to electricity.