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Seplat’s $700m gas investment will address Nigerian power deficit – Official

The $700m Assa North/Ohaji South (ANOH) gas and condensate field project of a local oil firm, Seplat Petroleum Development Company Plc is expected to significantly help in bridging power gap in Nigeria when completed.Seplat’s management said that the ANOH project straddles oil mining lease (OML) 53 where Seplat is the operator and holds t 40 percent working interest and OML 21 owned by Shell Joint Venture.

In a presentation entitled: ‘Stability, Performance, Growth,’ Seplat’s management team provided comprehensive information on the company’s existing gas business, market outlook and anticipated ANOH growth trajectory.

The ANOH gas processing project is managed by Anoh Gas Processing Company (AGPC), an incorporated joint venture (IJV) between Seplat and the Nigerian Gas Company (AGPC) that will develop a 300 million standard cubic feet per day (Mscfd) of gas midstream plant on OML 53 to process future wet gas from the oil fields.

Nigeria’s Guardian report on Thursday said that the forum was attended by the Chief Executive Officer, Mr. Austin Avuru; Chief Financial Officer, Mr. Roger Brown; and AGPC Managing Director, Mrs. Yetunde Taiwo.

The report said that Avuru, in his address, noted that Nigeria holds 37 percent of total proven gas reserves on the continent, adding that the majority of the reserves is in Niger Delta region of Nigeria. 

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