According to people familiar with the matter, Nigeria has approved a production-linked tax credit for a Shell deep-water oil field project. This incentive will also be offered to other oil giants in the future, and Nigeria hopes to use it to boost production. People familiar with the matter said that in order to facilitate the final investment decision for the Aparo project in southwestern Bangka, the terms approved by the President of Nigeria stipulate that Shell and its partners can receive a tax refund of 11.50 US dollars for every barrel of crude oil produced. This amount is more than double the standard amount. Other producers will also receive this incentive for new deep-water projects in the future, and the policy will last until at least 2029, according to people familiar with the matter.

According to people familiar with the matter, Nigeria has approved a production-linked tax credit for a Shell deep-water oil field project. This incentive will also be offered to other oil giants in the future, and Nigeria hopes to use it to boost production. People familiar with the matter said that in order to facilitate the final investment decision for the Aparo project in southwestern Bangka, the terms approved by the President of Nigeria stipulate that Shell and its partners can receive a tax refund of 11.50 US dollars for every barrel of crude oil produced. This amount is more than double the standard amount. Other producers will also receive this incentive for new deep-water projects in the future, and the policy will last until at least 2029, according to people familiar with the matter.