Nigeria’s Department of Petroleum Resources (DPR), has issued a licence for the establishment of the first floating Liquefied Natural Gas (LNG) production plant to UTM Offshore Ltd., an indigenous oil and gas company.
In a statement by its Head, Public Affairs, Paul Osu, the DPR disclosed that with receipt of the Licence to Establish, LTE, UTM Offshore, an indigenous oil and gas company, would be building the plant with a capacity for processing 176 million standard cubic feet of gas per day.
During the presentation of the licence in Abuja, the Director/Chief Executive Officer of the DPR, Engineer Sarki Auwalu stated that the licence is a demonstration of government’s determination to harness safe and reliable technology for the development of the oil and gas industry.
He added that this is also in line with the promise of the Federal Government to ensure that companies come to Nigeria and do business in an equitable way to accelerate economic growth and create jobs for Nigerians.
Speaking on the receipt of the licence, Managing Director of UTM Offshore, Julius Rone, promised to honour the terms of issuance within the twenty-four months validity period of the LTE from the date of issuance.
Auwalu guaranteed that the DPR would continue to create enabling instruments for companies through regulatory tools of licences, permits and approvals for investors.