Shell and its partners are evaluating how to develop a major oil field in Nigeria. The oil major’s CEO indicated the project could eventually warrant a $20 billion investment. This exploration marks a significant potential commitment in the West African nation’s energy sector.

Such a capital outlay would represent one of the largest recent investments in Nigeria’s oil and gas industry. It comes as the country seeks to revive production and attract foreign capital. The move signals Shell’s long-term confidence in the region despite ongoing challenges like security and infrastructure constraints.

The final investment decision will hinge on commercial terms and government approvals. Investors will watch for details on the field’s size and production timeline. Success could boost Nigeria’s output and provide a model for future large-scale projects in the region.