FID on NLNG train 7 to be executed in December

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Malam Mele Kyari, says the Final Investment Decision (FID) for Nigerian Liquefied Natural Gas (NLNG) Train 7 would be executed in December.

Kyari disclosed when he received the Chairman and Group Chief Executive Officer, Total Group, Patrick Jean Pouyanné and other top management of the Group, in Abuja.

He said that executing the FID was part of the concerted efforts to further grow the Nigerian Liquefied Natural Gas (NLNG) business in the Country

He said that the corporation would continue to align its business processes with its partners in accordance with global best practices for the benefit of the investments and for the good of Nigerians.

“We see Total Exploration and Production as a total partner. Total is one of the few multinational oil companies in Nigeria that are fully integrated with their visible footprints from the Upstream to the Downstream Oil and Gas Sector,” he said.

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He described Nigeria as the best investment destination in Africa with the largest growing economy and with a population of over 200 million that made it the largest market for oil and gas products in Africa.

Kyari applauded President Muhammadu Buhari for creating an enabling investment environment for the Oil and Gas Industry and urged the Total Group and other International Oil and Gas companies to take advantage of the abundant conducive opportunities in the Petroleum Sector.

The GMD further assured the Total Group of the corporation’s unflinching partnership and implored them to bring to fruition all their ongoing investment portfolios for the benefit of the Joint Venture.

Earlier, Pouyanné, said Nigeria was very important to the Total Group, saying that the Egina FPSO was currently producing 200,000 barrels per day.

He reassured that the Total Group would continue to invest in more deep-water projects in Nigeria and described the NLNG project as a very important asset that his company was deeply committed to. (NAN