Lagos — The Department of Petroleum Resources, DPR, has issued license to establish, LTE, for the first floating LNG production plant for the processing of 176MMcfd of natural gas and condensate to UTM Offshore Limited, an indigenous oil and gas company at a presentation ceremony at the DPR headquarters Abuja on Monday.
The Director, DPR, Sarki Auwalu, while presenting the license, explained that the milestone was a reinforcement of the promise and commitment of President Muhammadu Buhari to Nigerians to promote indigenous participation in the oil and gas sector and ensure that companies come to Nigeria and do business in an equitable way to stimulate the economy and create jobs for Nigerians .
He further stated that the license was a demonstration of government’s resolve to harness safe and reliable technology for the development of the oil and gas industry.
Auwalu assured that DPR will continue to create opportunities and enable business for companies by providing the regulatory tools of licenses, permits and approvals for investors.
The Managing Director of UTM Offshore Ltd, Mr. Julius Rone, while receiving the license, promised to abide with the terms of issuance within the twenty four months validity period of the LTE from the date of issue.