Nigerian Gas and Seplat Petroleum to raise $700 mln for joint gas project

Lagos-based oil and gas company Seplat Petroleum Development Co. and peer Nigerian Gas Co. plan to secure $700 million for Assa North-Ohaji South, a joint gas project.

Assa North-Ohaji South is expected to have an initial capacity of 300 million standard cubic feet per day and will process wet gas from the unitized upstream fields at OML 53 and OML 21.

ANOH Gas Processing Co., which is owned by Seplat and the Nigerian Gas Co., a unit of the Nigerian National Petroleum Corp., will develop, build and operate the plant, which is located in southeastern Imo State.

The project, scheduled to start production by the last quarter of 2020, will target local customers and has the capacity to double production, depending on domestic demand and the availability of feeds including third-party gas.