(Ecofin Agency) - Shell is considering investing in a gas project in Niger Delta, Osagie Okunbor, the Managing Director of Shell Petroleum Development Co. of Nigeria (SPDC) revealed on Tuesday.

He said the company is close to making a final investment decision on a project. The venture would have a production capacity of 300Mmcf of natural gas per day, Okunbor added without stating the amount of money to be invested.

According to the Managing Director, Shell is placing more attention on gas and reducing its interest in oil in Nigeria, though it is still a major player in the oil industry.

Nigeria, Africa’s second largest oil producer has the world’s ninth largest proven gas reserves, at 187 trillion cubic feet (tcf), Reuters reports.

Anita Fatunji