Ekpo Lauds NNPC/SPDC JV Partners for Final Investment Decision on Iseni Gas Project
The Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, has expressed commendation for the Final Investment Decision (FID) made by Shell Petroleum Development Company (SPDC) and its joint venture partners on the Iseni Project.
This decision, according to Ekpo, marks a significant milestone and paves the way for local firms to secure contracts compliant with Nigerian content regulations.
In a statement released on Sunday by his spokesman, Louis Ibah, Ekpo praised Shell and its partners, which include the Nigerian National Petroleum Corporation (NNPC), TotalEnergies, and Nigerian Agip Oil Company (NAOC), for their commitment to the FID.
The agreement entails the construction of a dedicated upstream facility to supply 100 million standard cubic feet of gas per day to the Dangote Fertiliser and Petrochemical Plant in Lekki, Lagos State, over a ten-year period.
“This development at the gas-rich Iseni field is aligned with the Federal Government’s aspirations for the Decade of Gas initiative,” Ekpo stated. “The 100mmscfd capacity, equivalent to 400MW of energy, will significantly contribute to our domestic market upon completion of construction.”
Ekpo emphasized the potential for job creation and economic growth through the awarding of local content compliant contracts. “This move is in line with President Bola Tinubu’s vision to unlock natural resources and stimulate continuous investment and growth in the Nigerian economy,” he added.
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The Iseni Project, identified as a critical gas supply deal, remains under close scrutiny by the Minister of State Petroleum Resources (Gas) as part of Nigeria’s Decade of Gas Initiative.
