TotalEnergies, NNPC Collaborated to Invest in Nigerian Gas Facility

SEATTLE (Oil Monster): Nigerian state oil firm Nigerian National Petroleum Corporation Limited (NNPC Ltd.) has collaborated with France-based integrated energy and petroleum company TotalEnergies to make an investment of around $550 million towards developing a new gas facility in Nigeria.

The planned gas processing facility, to be located in southern Rivers state, is expected to boost both domestic oil supplies as well as exports, said an NNPC source. The investment would cover building of a new gas processing plant and a pipeline. The announcement is expected to be made this week.

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The gas processing facility will be built on the Ubeta onshore gas field. The gas from the plant will be supplied to the Nigeria Liquefied Natural Gas (NLNG) plant- a joint venture project of NNPC, Shell, Total and Eni. The production capacity of the plant is estimated at around 350 million standard cubic feet per day of gas and 10,000 barrels per day of associated liquids.

The investment marks the success of President Bola Tinubu's efforts to attract investment into Nigeria’s energy sector. Moreover, this will offer confidence in the government’s resolve to improve ease of doing business.