Nigerian National Petroleum Corporation (NNPC) and ExxonMobil to build natural gas-to-liquid petroleum plant in Nigeria
Posted on September 1, 2008 – 10:09 am | by oilandgaspress.com
The Nigerian National Petroleum Corporation (NNPC) and ExxonMobil have signed an agreement to establish a natural gas-to-liquid petroleum plant in Nigeria.
“It will fast-track the execution of the project from the planning stage to the level of integrated concept and project commitment,” Dr. Levi Ajuonuma, Head of NNPC’s Public Affairs said in Abuja.
He said the corporation’s Group Managing Director (GMD), Mr. Abubakar Yar’Adua, signed the agreement on behalf of NNPC, while Mr. John Chaplin, Managing Director of ExxonMobil, signed for the Joint Venture Company (JVC).
Ajuonuma also quoted the Minister of State for Energy (Petroleum), Mr. Odein Ajumogobia, as saying at the signing that the project would use the latest technology to convert gas to liquid for petrol.
The project, he said, would significantly reduce the nation’s importation of petrol.
“It is also in line with government’s aspiration to monetise the nation’s natural gas resources put at over 180 trillion cubic feet “Ajumogobia said.
In a remark, Mr. Yar’Adua said Akwa Ibom State would host the refinery for the processing of natural gas to liquid petrol.
“The building of refineries will improve the nation’s revenue base as well as ensure security of domestic supply and distribution of products,” Yar’Adua said.
He explained that the project, when completed, would be one of the significant legacies of President Umaru Yar’Adua’s administration.
Describing the project as a welcome development and a right step in the right direction, Yar’Adua expressed optimism that the project would succeed.
Also speaking, Mr. Chaplin said ExxonMobil’s participation in the project was a demonstration of its commitment to Nigeria’s economic development.
“ExxonMobil will continue to invest in Nigeria and especially on projects that will boost Nigeria’s economy,” he said.
Chaplin said the project would offer employment opportunities to Nigerians
Tags: exxonmobil, gas-to-liquid, NIGERIA, Nigerian National Petroleum Corporation, Petroleum
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