Seplat Petroleum Development Company Plc has partnered the Nigerian National Petroleum Corporation (NNPC) to deliver 300millon standard cubic of gas per day to the domestic market through the ANOH Gas Processing Company (AGPC).
The ANOH project is designed to abridge the estimated 3.4 billion cubic feet of gas per day shortfall which could arise as demand increases to about 7 bcf/d by 2020.
During the inauguration of the board of AGPC, the Group Managing Director of NNPC, Dr. Maikanti Baru, urged board members to sustain the momentum and ensure timely delivery of the project not just within budget but below the budget without compromising the industry best practices of zero incidences.
‘‘We believe that a private sector driven project should deliver much faster, hence we came up with a structure outside the existing Joint Venture with the intent of getting the appropriate entities to participate in the project,” he said.
In his address at the inauguration, the Chief Executive Office, SEPLAT, Mr. Austin Avuru, appreciated the Nigerian Petroleum Development Company (NPDC) and the NNPC for the support they have given to the SEPLAT brand over the years as well as the AGPC.
“I need to register our deep sense of gratitude for the nine years we have been in partnership with the NPDC. In the last three year under the current leadership of the NNPC, we have had a relationship that is non-acrimonious. For the first time, we are doing what people will probably be doing in the future,” he said.
Avuru, who is also the vice-chairman of the AGPC, noted that in less than 24 months the partnership was formed, substantial funding had gone into the project. He added: “Half of the equity funding is already in the bank. Thanks to the GMD of the NNPC for making funding available.”
