DPR issues licence for Nigeria’s first floating LNG plant
The Department of Petroleum Resources announced on Monday that it had issued a licence to UTM Offshore Limited, an indigenous oil and gas company, for the establishment of the first floating Liquefied Natural Gas production plant in Nigeria.
The DPR said in a statement on Monday that the licence the proposed plant would have a capacity to process 176 million cubic feet per day of natural gas and condensate.
The Director/Chief Executive Officer, DPR, Mr Sarki Auwalu, presented the Licence to Establish at the agency’s headquarters in Abuja.
He said 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 said the licence was a demonstration of government’s resolve to harness safe and reliable technology for the development of the oil and gas industry.
Auwalu added that the DPR would continue to create opportunities and enable business for companies by providing the regulatory tools of licences, permits and approvals for investors.
The Managing Director of UTM Offshore, Mr Julius Rone, while receiving the licence, promised to abide with the terms of issuance within the 24 months validity period of the LTE from the date of issue.
