Seplat makes case for ANOH gas project in London
Lagos -- Seplat Petroleum Development Company Plc has described its Assa North-Ohaji South, ANOH, gas processing project as "very bankable" and capable of boosting Nigeria’s domestically gas supply significantly.
A Seplat team led by the company’s chief executive officer, Mr. Austin Avuru, made a presentation on the company’s gas business to investors and financial analysts during its 2019 Capital Market Day at the London Stock Exchange.
Seplat’s chief financial officer, Roger Brown and his investor relations team organised the forum to apprise investors of the company’s gas business with emphasis on the ANOH gas processing project.
In a presentation titled ‘Stability, Performance, Growth’, the team of six presenters provided the audience with 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 is planned to develop a 300 Mscfd midstream plant on OML 53 to process future wet gas production from the upstream unit.
During his introductory
presentation, Avuru noted that the ANOH gas processing plant will be the first stand-alone midstream joint venture business between the Nigerian National Petroleum Corporation, NNPC, and a company in the private sector.
With the ANOH project, Seplat aims to be the largest supplier of gas to the domestic market. The Seplat CEO added that: “By the time we commission the ANOH project, we will be able to produce 850 Mscfd.
He said the company is uniquely situated within the existing gas pipeline network and therefore leveraged on this to significantly expand its Oben gas plant, adding that the revenues from the expanded Oben gas plant has been impressive motivating the company to seek further investment in gas.