…Plant to produce 176mmscfd of LNG

By Michael Eboh

The Department of Petroleum Resources (DPR), yesterday, said it has issued a licence to UTM Offshore Limited, to establish the first floating Liquefied Natural Gas, LNG, production plant in the country.

In a statement by its Head, Public Affairs, Mr. Paul Osu, the DPR disclosed that with receipt of the Licence to Establish, LTE, UTM Offshore, an indigenous oil and gas company, would be building the plant with a capacity for processing 176 million standard cubic feet of gas per day, MMSCFD.

Speaking during the presentation of the licence in Abuja, the Director/Chief Executive Officer of the DPR, Engineer Sarki Auwalu, stated that the licence was a demonstration of government’s resolve to harness safe and reliable technology for the development of the oil and gas industry.

He also explained that the milestone was a reinforcement of the promise and commitment of President Muhammadu Buhari to Nigerians to promote indigenous participation in the oil and gas sector.

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He added that this was also in line with the promise of the Federal Government to ensure that companies come to Nigeria and do business in an equitable way to stimulate the economy and create jobs for Nigerians .

Auwalu assured that the DPR would continue to create opportunities and enable business for companies by providing the regulatory tools of licences, permits and approvals for investors.

Speaking on the receipt of the licence, Managing Director of UTM Offshore, Mr. Julius Rone, promised to abide with the terms of issuance within the twenty four months validity period of the LTE from the date of issue.

Vanguard News Nigeria