Minister of State Petroleum Resources (Gas), Mr. Ekperikpe Ekpo has Commends SHELL for taking Final Investment Decision on the Iseni Project
According to him ‘This is in line with President Bola Ahmed Tinubu commitment for continuing investment In Nigeria.100mmscfd the equivalent of 400 MW of energy will be delivered into the domestic market when construction is completed .
It would be recalled that Agreements have been signed with Dangote Fertilizer and Petrochemical plant to off take the gas.
Iseni is a critical gas supply project being tracked by the Minister of Petroleum Resources (Gas) as part of Nigeria Decade of Gas Initiatives.
Following FiD, Ekpo expects local content compliant contracts will be awarded creating jobs in the economy .
Daily Champion had reported that the Shell Petroleum Development Company of Nigeria Limited (SPDC) and its joint venture partners – Nigerian National Petroleum Company Limited, TotalEnergies EP Nigeria Limited, and Nigerian Agip Oil Company – have taken the final investment decision (FID) to build a dedicated upstream facility to supply 100 million standard cubic feet of gas per day to Dangote Fertiliser and Petrochemical Plant in Lekki, Lagos State, for 10 years.
Managing Director of SPDC, operator of the joint venture, Osagie Okunbor, disclosed this on Friday, February 2, 2024, in Port Harcourt describing the FID as a significant step in supporting the Nigerian government’s ‘Decade of Gas’ ambition.
“This investment decision is a critical step in pursuing the development of the gas-rich Iseni field, which is part of the Okpokunou Cluster in Oil Mining Lease 35 located in Sagbama Local Government Area of Bayelsa State,” Okunbor said, adding that SPDC and its joint venture partners remained committed to Nigeria’s ‘Decade of Gas’ ambition and, particularly, the domestic gas agenda.
According to Okunbor, increasing the delivery of natural gas to the domestic market is key to accelerated industrialization and economic development of Nigeria.
The FID signals a positive step towards the construction of the required infrastructure for the project that is expected to create jobs through direct and indirect employment.
Dangote boasts Africa’s largest granulated urea fertiliser complex and produces around 65 percent of Nigeria’s domestic fertiliser requirements. The project will supply gas which will enhance the Dangote Fertiliser and Petrochemical Plant’s ability to deliver on its promise to the Nigerian people and government.
