Shell announced last December the final investment decision for the development of the Bonga North deep-water project. The project will be a subsea tie-back to the Shell-operated Bonga Floating Production Storage and Offloading (FPSO) facility.
For 2023, the supermajors booked smaller profits, although in absolute terms, the figures were yet again quite impressive.
Several oil majors beat expectations despite reporting smaller overall profits in 2023 compared to 2022.
The combined profits of Big Oil came in at around $107.5 billion last year