AfDB gets $61.8m to drive initiative for women entrepreneurs
May 14, 2019
Chevron – Nigeria’s gas infrastructure development will drive diversification
May 23, 2019Shell Targets 2400MW from New Gas Project
Oil major, Shell, said its ongoing Assa North/Ohaji South gas development in Imo State will produce 600 million standard cubic feet of gas per day, the energy equivalent of about 2,400 Megawatts (MW) of electricity enough to provide uninterrupted power to 2.4 million homes.
Noting that 13 percent of the electricity generated in 2018 came from the 650MW Afam VI power plant, the oil firm noted that the Assa project will further aid energy generation in the country.
Besides, Shell reiterated its determination to support development in Nigeria, by exploring more oil in the deepwater frontier of the country.
With the completion of its invitation to tender (ITT), the company said it was about taking a Final Investment Decision (FID), on the $10 billion Bonga South West Aparo project.
EDITOR’S PICK: Shell unveils $15bn five-year investment plan
Nigerian firm wins maiden Shell Global Innovation Outstanding Performance Prize
Bank of Industry, Shell All On offer N1bn financing to off-grid developers
Unveiling the 2018, Shell in Nigeria “Briefing Notes” in Lagos, yesterday, Managing Director, the Shell Petroleum Development Company of Nigeria Limited (SPDC), and Country Chair, Shell Companies in Nigeria, Osagie Okunbor, disclosed that the oil major paid a total of $17.8 billion as taxes, royalties, and levies to the Nigerian Government from 2014 to 2018.
Okunbor also said Shell contributed $2 billion to Niger Delta Development Commission (NDDC), and spent $239 million under its Global Memorandum of Understanding (GMoU), for host community development.
“SPDC took the final investment decision on the Assa North/Ohaji South project last December giving a major momentum to the domestic gas aspiration of the federal government for increased power generation and industrialization,” he said.
Giving a breakdown of the gas production, Okunbor said 300 million standard cubic feet (mscf) of gas per day would be processed at a new gas processing plant owned by the SPDC Joint Venture, while the remaining 300mscf will go to a proposed gas processing plant by Seplat Petroleum.
Okunbor described the project as a game changer in Nigeria’s quest for energy sufficiency and economic growth.
Culled from – TheGuardian
