The company said the move would help lower the cost of producing crude oil to Dollars 1.50 a barrel from about Dollars 2 a barrel.
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Shell Rethinks Nigerian Strategy
Previously announced job cuts sent the wrong signal...
Multinational giant Royal Dutch/Shell has announced it would streamline its operations in Nigeria, cutting jobs and boosting production from about 1 million barrels a day to 1.5 million barrels by 2006.
When Shell made the first of its controversial cuts in declared oil reserves - in January, by 3.9bn barrels - it said a delay in investment in Nigeria was responsible for 1.3bn barrels of that total.
The company said the move would help lower the cost of producing crude oil to Dollars 1.50 a barrel from about Dollars 2 a barrel.
It also plans to scale back its activities in the troubled oil-port city of Warri, where more than 200 people have been killed in the past year as rival ethnic militias fought over benefits from oil operations in the area.
The company said the move would help lower the cost of producing crude oil to Dollars 1.50 a barrel from about Dollars 2 a barrel.
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