Nigerian oil and gasoline firm UTM Offshore is advancing to the Engineering, Procurement, Building, Set up and Commissioning section of its FLNG mission in Nigeria. The mission – the primary FLNG facility to be developed by a neighborhood participant – has a deliberate capability of 1.5 million tons every year in addition to 176 million cubic ft of pure gasoline and condensate and 300,000 tons of LPG. With a mission to grow to be a number one international supplier of FLNG options, UTM Offshore is setting the tempo in offshore gasoline monetization in West Africa.
UTM Offshore CEO Julius Rone has joined the African Power Week (AEW): Put money into African Power convention – going down November 4-8 in Cape City – as a speaker. In the course of the occasion, Rone will unpack the position FLNG performs in enhancing gas safety, strengthening income technology whereas facilitating a transition to a clear, gas-based vitality future in Africa.
AEW: Put money into African Power is the platform of selection for mission operators, financiers, know-how suppliers and authorities, and has emerged because the official place to signal offers in African vitality. Go to http://www.AECWeek.com for extra details about this thrilling occasion.
UTM Offshore plans to make FID on its Nigerian FLNG facility in 2024. The corporate signed a Heads of Settlement with Nigeria’s state-owned Nigerian Nationwide Petroleum Firm (NNPC) in 2023, laying out the phrases of the NNPC’s 20% fairness contribution to the mission. Set to be full by 2026, the FLNG facility options an built-in mannequin that prioritizes each exports and the home utilization of gasoline assets. Along with fairness phrases, the NNPC settlement outlines a pathway for guaranteeing LPG is produced for the home market. As such, the mission is predicted to reinforce home gas safety whereas lowering the reliance on wood-fired gas options.
Along with vitality provides, the UTM Offshore-FLNG mission serves as an vital infrastructure answer that aligns with the nation’s vitality transition targets. The mission goals to monetize currently-flared gasoline assets from the offshore Yoho Area, producing LNG, LPG and condensate. As such, the ability not solely unlocks a brand new vitality supply via the monetization of flared gasoline however reduces the Yoho Area’s greenhouse gasoline emissions consistent with environmental targets. In the meantime, the FLNG mission goes past vitality and environmental advantages to create tangible alternatives for native enterprise and communities. The mission is estimated to offer as much as 3,000 direct employment alternatives and 4,000 oblique employment alternatives whereas LPG provides are anticipated to scale back the price of cooking gasoline within the nation.
Past the FLNG mission, UTM Offshore specializes within the sale and buy of Nigerian crude oil; marine logistics and help providers; product pipeline providers; and dredging providers. Key tasks spearheaded by UTM Offshore embrace the development of a floating barrier in Lagos, Nigeria to enhance safety and marine logistics; the dredging of engineering and drilling firm Saipem’s third jetty within the Port Harcourt Base; safety patrol providers to main IOCs in Nigeria, and extra.
“With the biggest pure gasoline assets in Africa, Nigeria stands to quickly improve its manufacturing and export capability via the utilization of FLNG options. Main the cost on this trade is UTM Offshore, a Nigerian oil and gasoline firm that’s setting a powerful benchmark for its regional counterparts. UTM Offshore’s FLNG facility in Nigeria is not going to solely be the primary developed by an indigenous firm however will speed up the nation’s vitality transition via the monetization of offshore gasoline,” acknowledged NJ Ayuk, Govt Chairman of the African Power Chamber.
In the course of the AEW: Put money into African Power convention, Rone will present a mission replace on the deliberate FLNG facility, detailing the position floating liquefaction performs in Africa and the mission’s affect on the Nigerian vitality trade. Along with his participation in panel discussions, Rone’s engagement with international and regional stakeholders will open new pathways for collaboration throughout the gasoline trade.
Distributed by APO Group on behalf of African Power Chamber.