Imo set to benefit from Gas devet. as NNPC, Seplat seal deals

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THE desire to see greater exploration and development in the rich Imo gas field receives attention as the Nigerian National Petroleum Corporation, NNPC, on monday, signed five agreements with Seplat Petroleum Development Company, SPDC, for the Assa North and Ohaji South, ANOH, Gas Development scheme which would see the construction of an initial 300 million standard cubic feet per day (mmscfd) gas processing plant in Imo State.

According to a statement by the NNPC,the agreement was part of the nation’s drive to bridge the projected medium-term gas supply gap expected by 2020 and also, aimed at delivering about 3.4 billion standard cubic feet of gas per day by 2020.

The NNPC maintained that the ANOH Gas Development scheme remains one of the Seven Critical Gas Development Projects (7CGDP) which was aimed at boosting gas production and infrastructure development.

The Group Managing Director(GMD) of the NNPC, Mr. Maikanti Baru,at the signing ceremony declares that a special purpose vehicle known as ANOH Gas Processing Company, AGPC, was being promoted by the NNPC and Seplat to develop, build, operate  and maintain the ANOH Gas Processing Plant, with an initial capacity of 300 million standard cubic feet per day in Imo State.

The GMD represented by the Chief Operating Officer, Gas and Power, Mr. Saidu Mohammed, promised on the readiness of the oil company towards successful completion and delivery of the project.

He said, “Following the execution of Heads of Terms (HoT) by the Nigerian Gas Processing and Transportation Company (NGPTC) on behalf of the NNPC, Seplat and AGPC on December 19, 2017, the Steering Committee for the AGPC project has provided the leadership the broad guidance for the development and finalisation of the various commercial agreements required to underpin the project.”

In this renewed bid to actualize the gas development,the following MOUs were signedThe MoU signed: the AGPC Shareholders Agreement between AGPC, NGPTC and Seplat; AGPC Share Subscription Agreement between AGPC, NGPTC and Seplat; Wet Gas Sales and Purchase Agreement between, NNPC, Seplat and AGPC; Gas Sale and Purchase Agreement between AGPC and Nigerian Gas Marketing Company (NGMC); and Gas Marketing Agreement between AGPC and NGMC.

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