Business News
Seplat commences $700 million gas plant construction
Seplat Petroleum Development Company has commenced the construction of a Gas Processing Plant in Ohaji Egbema Council Area of Imo state.
Seplat Petroleum Development Company has commenced the construction of a Gas Processing Plant in Ohaji Egbema Council Area of Imo state. The Chairman of the indigenous oil and gas company, Dr Ambrosie Bryant Chukwueloka Orjiako made this disclosure.
Revealing that Seplat produces about 30% of gas to power in Nigeria, Orjiako said the oil and gas company had invested not less than $700 million in the ANOH project phase one, which would be situated in Imo State.
Orjiako said, “The most significant thing to say about this is to say that this project has been in the pipeline for over 3 decades but once we took over the asset, we made it a priority and obviously the trickledown effect of that project in Imo state is capable of completely synergizing with your vision for the state and will transform development in Imo state.
“Shortly after we acquired our asset in Imo state in 2016, the asset OML53 which was originally owned by Chevron, we have incrementally ramped up the production from less than 3,000 barrels per day, we are currently doing 9,000 barrels per day.”
[READ MORE: 240 firms make another attempt to commercialise Nigeria’s flared gas]
What you should know: Seplat’s OML 53 covers an area of approximately 1,585km2 and is located onshore in the northeastern part of Niger Delta. The Jisike oil field, located in the northwestern area of the block, is currently the only producing field on OML 53.
Existing infrastructure at Jisike comprises flow-lines, phase one separation facilities and a flow station with a design capacity of 12,000 bopd and 8 MMscfd. Oil production is sent for further processing at the nearby Izombe facilities on OML 124 from where it is exported via pipeline to the Brass oil terminal.
The block also contains the large undeveloped Ohaji South gas and condensate field, the development of which will be coordinated with the SPDC operated Assa North field on adjacent OML 21, together referred to as the ANOH project which is set to be one of the largest greenfield gas condensate development projects in Nigeria to date.
[READ ALSO: Neconde denies payment of kickbacks in acquisition of OML 42]
The expectation is that future gas production from the ANOH project will supply the domestic market, for which significant work on commercialisation terms and development concepts has been undertaken.
Coronavirus
Update: Health Minister states side effects of COVID-19 vaccines
Dr. Osagie Ehanire has disclosed the side effect of the COVID-19 vaccines.
Coronavirus
Update: President Buhari, VP Osinbajo get COVID-19 vaccine shots
President Buhari and VP Osinbajo have been vaccinated against COVID-19 on Saturday at the State House, Abuja.
