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•Signs FID
By Adewale Sanyaolu
The Shell Petroleum Development Company of Nigeria Limited (SPDC) and its joint venture partners have sealed the Final Investment Decision(FID) for a ten year gas supply deal to Dangote Fertiliser and Petrochemical Plant in Lekki, Lagos State.
The pact which also involves other Shell JV partners – Nigerian National Petroleum Company Limited, TotalEnergies EP Nigeria Limited, and Nigerian Agip Oil Company will see the partners build a dedicated upstream facility to supply 100 million standard cubic feet of gas per day to the plant.
Managing Director of SPDC, operator of the joint venture, Osagie Okunbor, disclosed this at the weekend in Port Harcourt describing the FID as a significant step in supporting the Nigerian government’s ‘Decade of Gas’ ambition.
“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 said, adding that SPDC and its joint venture partners remained committed to Nigeria’s ‘Decade of Gas’ ambition and, particularly, the domestic gas agenda.
According to Okunbor, increasing the delivery of natural gas to the domestic market is key to accelerated industrialization and economic development of Nigeria.
The FID signals a positive step towards the construction of the required infrastructure for the project that is expected to create jobs through direct and indirect employment.
Dangote boasts Africa’s largest granulated urea fertiliser complex and produces around 65 per cent of Nigeria’s domestic fertiliser requirements. The project will supply gas which will enhance the Dangote Fertiliser and Petrochemical Plant’s ability to deliver on its promise to the Nigerian people and government.
