24 April 2013, Lagos – Mobil Producing Nigeria Unlimited, MPN, an Exxon company, has signed a Seller’s Representative Agreement, SRA, for the Qua Iboe Power Project, located at its Qua Iboe terminal in Akwa Ibom State.
The proposed power project includes the construction of a 500megawatt-capacity power plant as well as a 56-kilometre transmission line connecting the plant to the national grid at Ikot Abasi, also in the state.
MPN’s General Manager in charge of Public and Government Affairs, Mr. Paul Arinze, said in a statement Tuesday night that the signing of the SRA was “a critical part of the overall commercial framework that enables MPN to undertake power activities and facilitates the sale of power by MPN to Nigerian Bulk Electricity Trading Plc for itself and on behalf of the NNPC.”
Managing Director of Mobil Producing Nigeria, Mr. Mark Ward, who spoke on the development, said the project “is a tangible demonstration of MPN’s commitment to Nigeria and supports the president’s priority of providing electricity to the country.”
According to the statement, Front End Engineering Design, FEED, and Environmental Impact Assessments, EIAs, for the project had been concluded, while commercial tenders for Engineering, Procurement and Construction, EPC, were near completion.
Mobil Producing Nigeria awarded the Front End Engineering Design contract for the project in September 2009 and performed the ground-breaking in March 2010.
FEED is the conceptual process of development and design for large industrial projects such as power plants. The Power Plant will provide 330kV export power to the national grid.