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OML 143: NNPC signs gas development deal with SEEPCO to unlock 1.2TCF
On
By Obas Esiedesa
The Nigerian National Petroleum Corporation (NNPC) on Thursday signed a gas development agreement with Sterling Oil Exploration and Production Company (SEEPCO) for the execution of the Oil Mining Lease (OML) 143.
NNPC’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, in a statement in Abuja disclosed that the project would boost the nation’s gas production by 1.2trillion cubic feet (tcf).
The Group Managing Director of the NNPC, Mallam Mele Kyari, who spoke at the signing ceremony said the gas commercialization strategy of the Corporation was in sync with the Federal Government’s National Gas Expansion Programme (NGEP), adding that the gas from the project would be processed at the Ashtavinayak Hydrocarbon Limited (AHL) 125million standard cubic feet (mmscf) of gas per day gas plant located in Kwale, Delta State.
OML 143: NNPC, SEEPCO Sign Gas Development Agreement To Unlock 1.2TCF Posted by African ExaminerAfrican News, Business, Featured, Latest News, News Thursday, April 22nd, 2021
(AFRICAN EXAMINER) – The gas development and commercialization programme of the Nigerian National Petroleum Corporation (NNPC) received a boost Thursday with the execution of the Oil Mining Lease (OML) 143 Gas Development Agreement (GDA) by the NNPC and its partner, Sterling Oil Exploration and Production Company (SEEPCO).
A statement by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, disclosed that the project would boost the nation’s gas production by 1.2trillion cubic feet (tcf).
Speaking at the GDA signing ceremony which held at the NNPC Towers, Abuja, the Group Managing Director of the NNPC, Mallam Mele Kyari, said the gas commercialization strategy of the Corporation was in sync with the Federal Government’s National Gas Expansion Programme (NGEP), addi
April 21, 2021 Credit: Wanfahmy/AdobeStock
Malaysia s Petronas has awarded the Production Sharing Contract (PSC) for the South East Collins Cluster under the newly introduced Small Field Asset (SFA) PSC terms, to Vestigo Petroleum.
The South East Collins Cluster, located in water depths of 42 to 45 meters 70km northeast of Labuan Island, comprises two fields, South East Collins and Lokan which were discovered in the 1980s. With a combined estimated recoverable of 10MMstb, the South East Collins Cluster is now primed for development under the new SFA PSC terms, Petronas said.
Petronas Senior Vice President of Malaysia Petroleum Mohamed Firouz said: The award of the cluster of fields under the much-anticipated new fiscal terms is expected to spur the development and production of more small fields in the future. The new SFA PSC is aimed at monetizing an inventory of small discovered resource opportunities available in Malaysian waters. Vestig
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