The Group Managing Director of the Nigerian National Petroleum Corporation(NNPC), Dr Maikantu Baru on Thursday, commissioned the Egbaoma gas processing plant, located in Ebedei Community, Ukwuani Local Government Area of Delta State.
The NNPC announced this via a statement available to Today’s Echo.
According to the NNPC, the $60m Gas Plant, run by PNG Gas Ltd has, since 2016, been producing 35m ltrs of gas liquids (LPG, Propane and Natural Gas) daily.
Today’s Echo understands that Egbeoma is located in Oil Mining Lease(OML) 38, operated by SEPLAT.
Union Bank plc announced a few years ago via a press release that it has signed a N4 Billion agreement to finance Egboama Gas Plant owned by PNG Gas Limited.
According to Union Bank, the loan facility will provide the required funding for the refurbishment and upgrade of gas plant located in Delta State.
Commenting on the agreement, the Executive Director, Corporate Banking at Union Bank, Mr. Emeka Okonkwo said: “Union Bank is pleased to be supporting PNG with the financing of Egboama plant which is expected to produce about 101 tons of liquefied petroleum gas per day. This project will no doubt enhance efforts towards increasing domestic utilization of gas in the country and reducing dependence of oil.”
In addition to producing 101 tons of liquefied petroleum gas per day, the Egboama gas plant was also expected to produce 38 tons of propane gas per day, 750 barrels of natural gas liquids as well as 25 million standard cubic feet of lean gas per day. The lean gas would be piped into the national gas grid to support power generation.