News Formal

$550 Million investment in Ubeta Field Development Project to boost Nigeria’s domestic gas supply

  • 📰 DailyPostNGR
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 59%

Promoted Noticias

México Últimas Noticias,México Titulares

Nigeria, a leading oil producing nation has struggled to attract the right investments to scale its oil and gas industry, despite having the largest gas reserve base in Africa.

This is a major economic challenge, especially as the petroleum sector account for about 90% of the nation’s forex earnings and significant contributor to government income though it only contributes about 8% to Nigeria’s GDP. In 2021, the federal government signed the Petroleum Industry Act into law, designed to revolutionise Nigeria's oil and gas sector and attract foreign direct investments.

The Nigerian National Petroleum Company Limited and Total Energies just announced the Final Investment Decision on the Ubeta project – a 350 million standard cubic feet of gas per day initiative. This final investment decision involves a commitment of $550 million to extract 900 billion cubic feet of non-associated natural gas from OML 58, situated approximately 85 kilometres from Port Harcourt in Nigeria’s Niger Delta Region.

Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más:

 /  🏆 11. in MX
 

Gracias por tu comentario. Tu comentario será publicado después de ser revisado.

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

$550m investment in Ubeta Field Development Project will boost Nigeria's domestic gas supplyNigeria's independent online newspaper
Fuente: thecableng - 🏆 2. / 80 Leer más »

NNPC, TotalEnergies sign investment decision on Ubeta fieldThe milestone, according to NNPC Ltd, is in line with President Bola Tinubu’s presidential executive order on oil and gas reforms
Fuente: PremiumTimesng - 🏆 3. / 78 Leer más »

NNPCL-TotalEnergies announces $550m investment on Ubeta projectThe Nigeria National Petroleum Company Limited, NNPCL, and TotalEnergies Joint Venture have officially announced a $550 million Final Investment Decision (FID) on the Ubeta Field Development Project to boost Nigeria’s oil and gas production. The spokesperson of NNPCL, Olufemi Soneye, disclosed this in a statement on Thursday.
Fuente: DailyPostNGR - 🏆 11. / 59 Leer más »

$550m investment in Ubeta project set to boost Nigeria’s domestic gas supplyThis project signifies a major step in advancing energy security, a cornerstone of the federal government of Nigeria’s plans to achieve sustained economic development through improved local gas utilisation.
Fuente: PremiumTimesng - 🏆 3. / 78 Leer más »