Seven Energy International Limited, an indigenous integrated oil and gas development, production and distribution company, has said the inauguration of its N90bn Uquo Gas Processing Facility in Esit Ekit, Akwa Ibom State, on Thursday by President Goodluck Jonathan, would bring a major boost to the country’s quest for stable power supply.
The gas processing facility is owned by Seven Energy’s wholly owned subsidiary, Accugas Limited.
The President commended Seven Energy and its Joint Venture partner, Frontier Oil Limited, for the project and the impact it would have on Nigeria’s aspiration for sustainable power supply.
“We are happy with what we have seen today. Seven Energy and Frontier Oil deserve commendation for combining their individual capacities to deliver this project, which will have multiplier effect on the economy such as increasing national power output, employment opportunities for the host communities and Nigerians, and additional revenue for both the Federal Government and Akwa Ibom State,” Jonathan said.
The Chief Executive Officer, Seven Energy, Mr. Philip Ihenacho, said the Uquo gas project was a reflection of the company’s unique focus on the emerging Nigerian domestic gas market, adding that the country had immense gas potential, which remained untapped for power generation and industrial use.
Ihenacho said, “Seven Energy, through its wholly owned subsidiary, Accugas, has developed a midstream gas processing and transportation infrastructure, and with our partner in the Uquo Field, we have combined our expertise to make this project a reality to unlock the huge opportunities we see in the Nigerian gas market.
“We are happy to see our investment culminate in the inauguration of this facility, which will support government’s effort to improve power supply, create job opportunities for Nigerians and impact other sectors of the economy.”
Concerning the impact of the project on power generation, he said, “First commercial gas deliveries commenced in early 2014 to the 190MW Ibom Power Station.
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