On Thursday, being April 22, The gas advancement and commercialization program of the Nigerian National Petroleum Corporation (NNPC) got a lift with the execution of the Oil Mining Lease (OML) 143 Gas Development Agreement (GDA) by the NNPC and its accomplice, Sterling Oil Exploration and Production Company (SEEPCO).
According to the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, he reveals the importance of this venture saying that
it would support the country’s gas creation by 1.2trillion cubic feet (tcf).
It was also disclosed in a interview with the GDA marking function which held at the NNPC Towers, Abuja, the Group Managing Director of the NNPC, Mallam Mele Kyari, said the gas commercialization procedure of the Corporation was in a state of harmony with the Federal Government’s National Gas Expansion Program (NGEP), adding that the gas from the venture would be handled at the Ashtavinayak Hydrocarbon Limited (AHL) 125million standard cubic feet (mmscf) of gas each day gas plant situated in Kwale, Delta State.
According to Mallam Kyari, “This opens a passage for different freedoms in the Oil and Gas Industry, SEEPCO Group as well as for different organizations as well.
In his words;
“We are glad that this will open huge volumes of gas which will convey 125mmscfd to the Midstream plant that you have constructed. Obviously, this is an incredible achievement for us and we are glad to work with you. You are a truly solid accomplice since when you talk, you complete them”.
He was also of the opinion that the advancement of OML 143 would bring an incentive for the Federal Government, NNPC and SEEPCO Group which would thusly support the country’s economy.
To Managing Director of SEEPCO, Mr. Tony Chukwueke, the OML 143 GDA is a significant achievement for the country since it was the main Agreement in Nigeria that completely isolates gas improvement from oil creation, taking note of that the game plan would empower wholistic advancement of the gas potential in the square.
“The GDA was a huge advance as it was the first of its sort to explicitly incorporate terms that urge the project worker to be viable in its expense the executives along these lines giving critical income to the Federal Government, NNPC and different partners”, he further clarified.
He equally thanked the GMD, NNPC for his commitment to Nigeria and stated that SEEPCO is resolved to assume its part in the energy business in Nigeria.
According to the Production Sharing Contract commitments, the Gas development Agreement set out the terms for the advancement of the 1.2tcf Non-Associated Gas oil block by SEEPCO which is the Contractor with the NNPC is the Concessionaire.
