An Indigenous oil and gas company UTM offshore Limited has obtained from the Department of Petroleum Resources to establish the first floating Liquefied Natural Gas (LNG) production plant.
DPR in a statement issued on Monday by Mr Paul Osu, Head Public Affairs, said that the licence was presented to the company at the DPR headquarters in Abuja on Monday.
According to the statement, Mr Sarki Auwalu, Director, DPR who presented the licence said the company would be processing 176MMcfd natural gas and condensate.
Auwalu, while describing it as a milestone, said the development was a reinforcement of the promise and commitment of President Muhammadu Buhari to Nigerians to promote indigenous participation in the oil and gas sector.
It is to ensure that companies come to Nigeria and do business in an equitable way to stimulate the economy and create jobs for Nigerians, he said .
Auwalu 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.
The DPR, he said, would continue to create opportunities for companies by providing the regulatory tools of licences, permits and approvals for investors.
The Managing Director of UTM Offshore Ltd., Mr Julius Rone, promised to abide with the terms of issuance within the 24 months validity period of the licence.
Photo: World largest Floating LNG facility
