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Friday, March 12, 2021
Sarki Auwalu, Director and CEO of Nigeria’s Department of Petroleum Resources awarded indigenous company UTM Offshore a license to establish a floating liquefied natural gas (FLNG) unit at the Yoho oil field. This is the first FLNG license to be awarded in the West African country.
The award was presented to UTM Managing Director Julius Rone. The project is in furtherance of the President Buhari’s resolve to develop Nigerias’ oil and gas companies as well as create jobs for Nigerians.
UTM Offshore will be constructing a 1.2 million tons per annum FLNG unit at the Yoho field and is slated to produce and process about 176 million cubic feet per day of gas. The field is operated by ExxonMobil subsidiary, MPN, which holds a 40 percent stake, and the Nigerian National Petroleum Corporation, which has a 60 percent stake.
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