The Department of Petroleum Resources (DPR) has pledged support to the hitch-free completion of Nigeria’s first floating Liquefied Natural Gas (LNG) production plant.
Mr Sarki Auwalu, Director, DPR gave the assurance at the online contract signing of an agreement by an indigenous oil and gas company, UTM Offshore Limited and its partners on the project on Tuesday.
The pre-front end engineering design (Pre-Feed) agreement was signed between UTM and JGC Corporation (UK) Limited.
UTM also signed a contract with KBR Engineering Company for the third-party review of the Pre-Feed deliverables from JGC.
Auwalu said that the DPR had in February, issued a Licence to Establish (LTE) to UTM for the project and that it is expected to be completed in 2025.
He said that the project was in line with the vision of the Federal Government to transform Nigeria into a gas-based economy by 2030.
He noted that the declaration of 2021 – 2030, by President Muhammadu Buhari as the decade of gas, was becoming a solid reality with the commencement of preliminary engineering of this LNG project.
He said the DPR, under the leadership of the Minister of Petroleum Resources, had continued to implement policy and regulatory reforms driven by a commitment to attract investments.
According to him, the reforms will also create value and improve the contributions of the oil and gas sector to Nigeria’s Gross Domestic Product (GDP).
“The DPR will continue to provide opportunities and enable the businesses of promoters and investors in the oil and gas industry for the economic growth, stability and sustainability of Nigerian and for the mutual benefit of all investors and industry participants.
“Our licences, permits and approvals will continue to serve as stimulants for value addition and enablers of development.
“Please be assured of the Department’s unflagging support to see you through the successful execution of this landmark project in a safe, cost-effective and timeline manner,’’ Auwalu said.
