Strategy: Here are the 5 agreements signed by NNPC and Seplat for gas development

The agreements was promoted to expedite the development of a project aimed at delivering about 3.4 billion standard cubic feet of gas per day by 2020.

Nigeria's state oil firm, the Nigerian National Petroleum Corporation (NNPC) and Seplat Petroleum Development Company (SPDC) have signed five agreements to expedite the development of a project aimed at delivering about 3.4 billion standard cubic feet of gas per day by 2020.

In a statement released on Monday, August 13, 2018, NNPC said the project, Assa North and Ohaji South gas development scheme, is one of the seven critical gas development projects that will boost gas production and infrastructure development.

Maikanti Baru, NNPC GMD, said the project was being promoted by the corporation and Seplat to develop, build, operate and maintain the Assa North-Ohaji South (ANOH) Gas Processing Plant, with an initial capacity of 300 million standard cubic feet per day in Imo, Southeastern Nigeria.

He said the NNPC will do everything possible to ensure that the project was successfully delivered.

Baru urged the gas processing company to work hard and deliver the project on schedule, within budget and to specification.

On his part, Austin Avuru, the Chief Operating Officer of Seplat, described the ANOH Gas Processing Plant as a landmark project which captures the essence of the gas infrastructure development initiative of the Federal Government as encapsulated in the 7 Big Wins and 12 Business Focus Areas programmes.

He expressed confidence that AGPC would deliver the project within the next 18 months and achieve its objective of being a key gas supplier to both the domestic and export market.

Here are the agreements signed for the medium-term gas supply

1. AGPC Shareholders Agreement between AGPC, NGPTC and Seplat

2. AGPC Share Subscription Agreement between AGPC, NGPTC and Seplat

3. Wet Gas Sales and Purchase Agreement between, NNPC, Seplat and AGPC

4. Gas Sale and Purchase Agreement between AGPC and Nigerian Gas Marketing Company (NGMC)

5. Gas Marketing Agreement between AGPC and NGMC

The Nigerian Gas Processing and Transportation Company (NGPTC) and the Nigerian Gas Marketing Company are all gas and power subsidiaries of the NNPC.

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