By Yemisi Izuora
Seplat Petroleum Development Company is considering sigificant investment in gas processing and delivery infrastructure to raise output.
The company projects to tripple its gas production by end of 2016 after achieving 99 million standard cubic feet per day production in 2013.
Seplat chairman Dr. Ambrosie Orjiakor disclosed that the company recorded a 5 percent rise in gas revenue in 2014.
Orjiakor stated that “We see the commercialisation and monetisation of Nigeria’s natural gas resource as an attractive long-term opportunity as we seek to go beyond our domestic obligations by selling to commercial ventures in Nigeria, such as power generation plants.”
He noted that pursuant to the country’s Gas Master Plan 2008, Nigeria is currently undergoing significant changes in the domestic gas pricing environment which has resulted in increased gas demand and improving pricing dynamics.
Orjiakor further added “We have made successful efforts in our gas development strategy by the expansion of our gas processing facility in Oben.
This is against the back drop of the Nigerian gas to power transformation agenda which has occasioned increasing gas demand at good prices in the domestic market. Seplat will take advantage of this to boost revenue from gas in 2015 and in the coming years.”