Seplat Power stated Wednesday that set up works on the ANOH fuel plant, a three way partnership between the power firm and NNPC Gasoline Infrastructure Firm Restricted, have attained mechanical completion.
The feat, achieved on 29 December, will enable Nigeria’s largest power firm by market worth to ramp up fuel manufacturing by roughly twofold as soon as operations begin.
“As soon as accomplished, ANOH will present two revenue streams for Seplat: moist fuel gross sales from OML 53 to the fuel plant and dividends from the three way partnership ANOH Gasoline Processing Firm, which can function the plant,” CEO Roger Brown stated in an announcement.
The primary part has a processing capability of 300 million customary cubic toes per day, with the ability anticipated to ship dry fuel, condensate and LPG to prospects. It’s focusing on the home marketplace for the fuel and LPG and the worldwide marketplace for the condensates.
Seplat Power had anticipated the venture to be delivered within the third quarter of 2023 however third-party delays meant it might be delayed some three months not on time.
“The opposite key steps to first fuel, as outlined within the Firm’s Interim Outcomes announcement, have been the drilling and hook-up of the Upstream wells and completion of important third-party infrastructure: the OB3 pipeline river crossing and Spur Line connecting OB3 to the fuel plant,” Seplat Power stated in an announcement.
“Completion of the third nicely (ASSN-05) was beforehand introduced and the fourth and closing nicely (ASSN-06) deliberate forward of first fuel has additionally now been accomplished by the upstream unit operator, SPDC,” it added.
The corporate now awaits the completion of key plant pre-commissioning actions and third-party infrastructure, which can set the commissioning of the plant and the beginning of operations in movement.
Seplat Power is dual-listed on the Nigerian Change in Lagos and on the London Inventory Change.
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