By Nneka Nwogwugwu
The Department of Petroleum Resources has issued a licence to establish the first floating Liquefied Natural Gas production plant in the country.
The DPR made this announcement in a statement on Monday.
The Director/Chief Executive Officer, DPR, Mr Sarki Auwalu, presented the licence to UTM Offshore Limited, an indigenous oil and gas company at the agency’s headquarters in Abuja.
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The DPR stated that the plant would have a capacity to process 176 million cubic feet per day of natural gas and condensate.
According to him, the licence is serving as a reinforcement of the promise and commitment of President Muhammadu Buhari to Nigerians to promote indigenous participation in the oil and gas sector.
Auwalu said the DPR would continue to create opportunities and enable business for companies by providing the regulatory tools of licences, permits and approvals for investors.
The Managing Director of UTM Offshore, Mr Julius Rone, while receiving the licence, promised to abide with the terms of issuance within the 24 months’ validity period of the LTE from the date of issue.
