The Nigerian petroleum industry major SPDC (Shell Petroleum Development Company Ltd.) has recently made it to the front page for announcing an FID (Final Investment Decision) on the Assa North Gas Development Project in the Nigerian state of Imo.
Apparently, the project is intended for boosting the Federal Government’s plans for domestic gas production to increase power generation as well as industrialization in the country. The project, at peak production capacity is expected to deliver a standard 300 million cubic feet of gas each day. Relevant sources further add that the project will be treated at the Gas Processing Facility of SPDC JV (Joint Venture) and distributed via the pipeline network of Obiafu-Obrikom-Oben.
According to Mr. Osagie Okunbor, Managing Director at SPDC and Country Chair of Shell Companies, Nigeria, the project is set to be an important game-changer for Nigeria’s development toward energy sufficiency and economic growth. Okunbor further added that the project is a key that drives the Nigerian government’s aim for diverse industrial growth and is a premier one among the seven significant gas project initiatives led by the NNPC (Nigerian National Petroleum Corporation) and the Ministry of Petroleum.
SPDC, for the record, operates a JV involving the NNPC that holds 55%, Shell which holds 30%, TEPNG (Total Exploration & Production Nigeria Ltd) 10% and NAOC (Nigerian Agip Oil Company Ltd) 5%.
Sources further claimed that SNEPCo’s (Shell Nigeria Exploration and Production Company) Bonga vessel recently produced more than 800 million crude oil barrels, turning the company into a pacesetter in the production of offshore of oil and gas in the Gulf of Guinea.
Authentic sources reveal that the Assa North project is expected to be an important contribution to the growth of GDP in the Imo State as well as across Nigeria. The gas produced will be deployed in diverse industries around the country, providing the local communities with economic prospects.