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AGPC raises $260m to complete ANOH project
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ENERGY
Seplat Petroleum Development Company Plc said that its Incorporated Joint Venture, IJV, ANOH Gas Processing Company, (AGPC), successfully raised $260 million in debt to fund completion of its ANOH Gas Processing Plant (ANOH).
Seplat is a leading Nigerian independent energy company listed on both the Nigerian Stock Exchange and the London Stock Exchange.
The 300MMscfd capacity ANOH plant, located on OML 53 in Imo State, is being built by AGPC, which is an IJV owned equally between Seplat and the Nigerian Gas Company (NGC), a wholly owned subsidiary of Nigerian National Petroleum Corporation (NNPC).
AGPC Raises US$260m to Complete ANOH Gas Processing Project thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.
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’Femi Asu
Seplat Petroleum Development Company Plc announced on Monday that the ANOH Gas Processing Company has successfully raised $260m in debt to fund completion of its ANOH Gas Processing Plant.
The ANOH plant, located on OML 53 in Imo State with a capacity of 300 million standard cubic feet per day, is being built by AGPC, according to a statement issued by the oil firm on Monday.
AGPC is an incorporated joint venture owned equally by Seplat and the Nigerian Gas Company, a wholly-owned subsidiary of Nigerian National Petroleum Corporation.
According to the statement, Seplat and NGC have previously provided a combined $420m in equity funding and the project is now fully funded.
SEPLAT appoints Mba MD of ANOH Gas, others as directors
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By Prince Okafor
Seplat Petroleum Development Company Plc has appointed Okechukwu Mba as the new Managing Director of ANOH Gas Processing Company (AGPC) Limited, the Incorporated Joint Venture (IJV) between Seplat and the Nigerian Gas Company (NGC), a wholly-owned subsidiary of Nigerian National Petroleum Corporation (NNPC).
ANOH Gas Processing Company (AGPC) Limited is a midstream gas company committed to processing Gas from OML 53 for distribution to the local market.
By this appointment, Mba joins the Board of AGPC.
Also appointed to the AGPC Board are Dr. Chioma Nwachuku, Seplat’s General Manager, External Affairs and Communications, and Rose N. Eshiett, Group General Manager Finance at the Nigerian National Petroleum Corporation (NNPC).
Seplat Petroleum Development Company Plc (LSE:SEPL) | RNS | Seplat PetDevCom Plc - AGPC raises US$260m to complete ANOH project proactiveinvestors.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.co.uk Daily Mail and Mail on Sunday newspapers.