Nigeria signs contract with investors for gas production facilities

The Federal Government said it had entered into a deal with 13 pre-qualified investors for accelerated development of gas production facilities at the nation's oil fields.
A statement issued by Public Relations Unit of the Ministry of Petroleum Resources gave names of the participating companies to include: Colechurch, Global Energy Refining, Ibeto Group of Companies, Octopol, Petrolog Nigeria, Process and Industrial Development Nigeria (P&ID) and Tricity. Others are: Turan Oil, Seven Energy Consortium, Westcom, Gerfin and Remington.

According to the terms of the contract, Colechurch would utilise associated gas for LPG production and to support the nation's power generation aspiration. It is expected that operation of the company will be aided by the infrastructure in Koko Free Trade Zone.
Also, the firm is to invest resources in gas development projects by utilising associated and non-associated gas for LNG production and for supplying the thermal power generating stations with the much-needed gas.

For Global Energy Refining, the MoU provides that the firm would engage in the production of gas for power generation from its existing gas processing plant located in Cawthorne Channel in the Niger Delta area, to support government initiatives to improve electricity supply.
In the same vein, Ibeto Group of Companies, Turan Oil, Seven Energy Consortium and Octopol are to convert flared gas to produce its own LPG for domestic market, while the dry gas component would be made available to various power plants and Octopol's micro LNG scheme.