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Uquo JV to boost power generation with Akwa Ibom Gas Facility

By BusinessNews Staff on August 15, 2014

Frontier Oil Limited and Seven Exploration and Production Limited, the Uquo Joint Venture partners, have finalised arrangements for the official inauguration of the Uquo Gas Processing Facility in Eket, Akwa Ibom State, by President Goodluck Jonathan today.

The event, which will hold at the Uquo Gas Processing Facility, Esit Eket, will also mark the formal commencement of gas supply to the Akwa Ibom-owned power plant, the Ibom Power Company.

According to a statement signed by the management of the Uquo Joint Venture Partners, the gas facility is one of the biggest projects undertaken by independent indigenous partners in the sub-Saharan Africa.

The Uquo JV had inaugurated the Train 2 of the Uquo Gas Processing Facility in readiness for supplying 131 million metric standard cubic feet a day (mmscfd) of gas to the Calabar National Integrated Power Project (NIPP) in the fourth quarter of 2014.

“With Trains 1 and 2 of the Uquo Gas Processing Facility fully operational and once the connecting pipeline to Calabar is inaugurated, the joint Venture will be supplying gas to provide 750 megawatts of electricity generation capacity at the Ibom Power Station and the Calabar NIPP, equivalent to some 10 per cent of Nigeria’s generating capacity,” Dada Thomas, managing director of the operators of the project, said.

He recalled that the Uquo Field was one of the 24 marginal fields that were awarded to indigenous companies by the Department of Petroleum Resources (DPR) in 2003 as part of the federal government’s marginal field programme, aimed at increasing reserves, production, employment, local content and indigenous participation in the upstream oil and gas business.

The Chief Executive Officer, Mr. Philip Iheanacho, of Seven Energy, the JV partner that provided the technical services and 100 per cent of the funding for the gas facility, said the gas delivery plan was designed in a way that would ensure the safety of the communities located along the pipeline routes.

According to him, “The introduction of high pressure gas into the Uquo Gas Processing Facility and the pipelines has been accompanied by a focused education programme along the pipeline’s right of way to ensure the safety of the communities located along the pipeline right of way for the safety, security and continuity of supply to Ibom Power Company.”
He added that the project would boost power generation in the country and generate employment for Nigerians.

Frontier Oil, an indigenous oil and gas exploration and production company formed in 2001, aims at becoming a leading indigenous Nigerian gas producer in 2014 as well as one of the leading indigenous exploration and production companies by 2020. The company hopes to achieve this by producing oil and gas profitably and responsibly for the benefit of all stakeholders.

Similarly, Seven Energy, an indigenous oil and gas exploration, development, production and distribution company with a vision to be the leading supplier of gas to the domestic market for power generation and industrial consumption has over 20 years of corporate finance and consulting experience and has been active in the African telecommunications, financial services and oil and gas industries for more than 10 years.

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