Nigeria National Petroleum Corporation (NNPC) Limited alongside French energy major, TotalEnergies, will invest a swooping sum of $550 million to develop gas facilities in oil-rich Rivers State.
According to Reuters, the deal is a partnership between the national oil company and the French international oil giant.
The NNPC source said an announcement would be made this week.
Reuters reported that the investment project will encompass the development of a gas processing plant along with the construction of an extensive pipeline network traversing the Niger Delta region.
The source said the initiative aims to enhance the region’s energy infrastructure, ensuring efficient processing and transportation of natural gas across the area.
The gas processing facility, to be constructed at the Ubeta onshore gas field jointly owned by Total and NNPC, will supply gas to the Nigeria Liquefied Natural Gas (NLNG) plant.
NLNG is a consortium involving NNPC, Shell, Total, and Italy’s Eni.
Upon completion, the plant is expected to produce 350 million standard cubic feet of gas per day and 10,000 barrels per day of associated liquids, according to the source.
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