NPDC Unveils Facilities to Boost Cooking Gas Consumption

cooking Gas
  • NPDC Unveils Facilities to Boost Cooking Gas Consumption

As part of efforts to fast- track the consumption of Liquefied Petroleum Gas, otherwise known as cooking gas, the Nigerian Petroleum Development Company Limited, the exploration and production subsidiary of the Nigerian National Petroleum Corporation, has announced its readiness to unveil the largest LPG and propane storage and dispensing facility in Oredo, Benin, Edo State.

It said the facility, which was an extension of the integrated gas-handling facility plant, had the capacity to dispense 330 tonnes of LPG and 300 tonnes of propane daily, in addition to the 100 million standard cubic feet of gas per day and 260 barrels per day condensate from the IGHF plant.

In a statement issued by NNPC’s Group General Manager, Group Public Affairs Division, Ndu Ughamadu, in Abuja on Thursday, the Managing Director, NPDC, Yusuf Matashi, said the IGHF would be a game changer for the national oil company, as both facilities, IGHF and LPG bay, when inaugurated, would be huge revenue streams for the Federal Government.

Matashi stated that before the end of 2019, the NPDC would be producing 40 per cent of the nation’s LPG requirements, adding that the facility was centrally positioned to supply LPG to Lagos, South-South, South-East and the North in order to grow cooking gas consumption across the country.

He described the NPDC as the single largest supplier of gas to the domestic market with about 90 per cent of gas supply targeted at power generation to drive the nation’s economy positively.

He said, “We are paying greater focus on our 100 per cent assets production. NPDC assets will deliver a lot in terms of meeting its crude oil and gas volume targets. We currently contribute 10 per cent to daily national production and by the end of 2019, the company is looking at 15 per cent contribution to daily national production.”

Matashi said NPDC’s production outlook for 2019/2020 was good, as the company was pursuing its drilling and field development programmes that had been approved by the management of NNPC.

The NPDC helmsman revealed that the company had oil reserve base of 3.6 billion barrels and gas reserve of 15 trillion cubic feet from its involvement in 29 concessions – 22 Oil Mining Leases and seven Oil Prospecting Licenses.

Matashi said that NPDC had maintained a cordial relationship with regulatory agencies, such as the Department of Petroleum Resources, adding that the company had maintained its remittance of royalties and Petroleum Profit Tax to the Federal Inland Revenue Service.

He stated that NPDC’s commitment to sustainable community development policy had made it possible for the oil firm to be at peace with its various host communities, adding that over time the company had won the confidence of Niger Delta residents and would continue to build on the gains recorded.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: samed@investorsking.com.

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