Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Assa North, Ohaji South gas projects to gulp over N252bn

    Assa North, Ohaji South gas projects to gulp over N252bn

    April 25, 2019
    Share
    Facebook Twitter LinkedIn WhatsApp

    OpeOluwani Akintayo

    Lagos — The Assa North, Ohaji South gas projects will gulp over N252 billion naira, SweetcrudeReports has learned.

    Seplat’s Chairman and co-founder, A.B.C Orjiako during a visit to London on Wednesday told Reuters that the Joint Venture, JV with the Nigerian National Petroleum Corporation, NNPC, will see the company raising $700 million (N252, 259, 000, 000.00) for the development of the fields.

    The Final Investment Decision, FID, for the projects located in Imo States, was signed in late 2018.

    The Assa North project is expected to produce 300 million standard cubic feet of gas per day and will be treated at Shell Production and Development Company JV’s gas processing Facility and distributed through the Obiafu-Obrikom-Oben pipeline network.

    Seplat is focusing heavily on gas investments, drilling, and acquisitions as a way of boosting electricity production in Nigeria. It now supplies around 30 percent of the gas required for power generation in the country.

    Orjiako said Seplat’s gas production stood at 525 million standard cubic feet (scf) per day from 90 million scf nine years ago.

    According to him, Nigeria had one of the highest cost per kilowatt of power but it produces less than 10 percent of its requirement. The bulk of electricity produced comes from diesel generators which is expensive and unreliable.

    Related News

    Despite NPA’s intervention, export cargoes still stuck at EPTs for days

    Crude oil rebound reflects optimism over the U.S.-China dialogue

    Stakeholders hail PINL’s achievements in protecting TNP

    E-book
    Resilience Exhibition

    Latest News

    Nigeria unlocks intra-African trade with new PAPSS policy boost

    May 10, 2025

    Ahead of China-US talks, Trump says 80% tariff ‘seems right’

    May 10, 2025

    US oil and gas rig count falls to lowest since January – Baker Hughes

    May 10, 2025

    Nigeria’s Senate passes tax reform bills to boost government revenue

    May 10, 2025

    E-Call up is desirable in Onne ports – Truckers

    May 10, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.