Oredola Adeola

Shell Nigeria, alongside NNPCL, TotalEnergies, and Nigerian Agip Oil Company, has finalized the investment decision to construct a dedicated facility, supplying 100 million standard cubic feet of gas per day to Dangote Fertiliser and Petrochemical Plant in Lekki, Lagos State for ten years, with the capacity to produce the equivalent of 400MW of energy.

Osagie Okunbor, Managing Director of SPDC, made this known in a statement on Friday, February 2, 2024, in Port Harcourt, where he described the FID as a significant step in supporting the Nigerian government’s ‘Decade of Gas’ ambition.

He said, “This investment decision is a critical step in pursuing the development of the gas-rich Iseni field, which is part of the Okpokunou Cluster in Oil Mining Lease 35 located in Sagbama Local Government Area of Bayelsa State,”

Okunbor further stated that the SPDC and its joint venture partners remained committed to Nigeria’s ‘Decade of Gas’ ambition and, particularly, the domestic gas agenda.

According to him, increasing the delivery of natural gas to the domestic market is key to accelerated industrialization and economic development of Nigeria.

Ekperikpe Ekpo, Minister of State Petroleum Resources (Gas), in a statement on Sunday by Louis Ibah, his spokesman, said the Final Investment Decision (FID) on the Iseni Project by Shell Petroleum Development Company (SPDC) and its joint venture partners has opened up a new vista of opportunities for local content compliant contracts for Nigerian firms.

Ekpo, commended Shell and its partners for committing 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.

The Minister said, “I am extremely excited with SPDC, NNPCL, TotalEnergies,NAOC for working assiduously in the realization of the FID on the Iseni project. 100mmscfd, which is capable of producing the equivalent of 400MW of energy.

“The project will be delivered into the domestic market when construction is completed. This is a significant milestone in our quest to achieving our aspirations of 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 Minister of State (Gas) said.

Ekpo further emphasised that 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.