Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo has said the Final Investment Decision (FID) on the Iseni Project by Shell Petroleum Development Company (SPDC) and its joint venture partners have opened up a new vista of opportunities for local content-compliant contracts for Nigerian firms.
Shell had sealed the FID with the NNPCL, TotalEnergies and Nigerian Agip Oil Company, as joint venture partners, in a deal that will see the building of 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 ten (10) years.
Ekpo, in a statement on Sunday by his spokesman, Louis Ibah, commended Shell and its partners for commiting to the FID, saying the development of the gas-rich Iseni field would go a long way in supporting the Federal Government’s aspirations for the Decade of Gas initiative.
Ekpo said: “I am extremely excited with SPDC, NNPCL, TotalEnergies, and NAOC, who worked diligently for the realization of the FID on the Iseni project. 100mmscfd, which is capable of producing the equivalent of 400MW of energy, will be delivered into the domestic market when construction is completed. This is a significant milestone in our quest to achieve our aspirations for the Decade of Gas initiative.”
“Following this FID, I expect local content-compliant contracts to be awarded, thus creating jobs in the domestic economy and growing our GDP. This is in line with President Bola Tinubu’s commitment to unlock Natural Resources and stimulate continuous investment and growth of the Nigerian economy.”
The Iseni Project is a critical gas supply deal tracked by the Minister of State Petroleum Resources (Gas) as part of Nigeria’s Decade of Gas Initiative.