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Nzube Nlebedim, Nigeria Field Editor March 11, 2021
Privately-owned Nigerian company UTM Offshore has been awarded a license to install a floating liquefaction (FLNG) unit at its Yoho oil field.
This marks the first FLNG license to be issued in Nigeria.
UTM Offshore is expected to install a 1.2 million tons per annum FLNG unit at the Yolo field.
The legal advisor for the deal, Templar, has said that the unit will be able to produce and process about 176 million cubic feet per day of gas, providing 1-2 cargoes monthly. The field is owned by ExxonMobil subsidiary, MPN, which holds a 40 percent stake and operatorship, and the Nigerian National Petroleum Corporation, which has a 60 percent stake.
NNPC Awards Nigeria s First Floating LNG License naija247news.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naija247news.com Daily Mail and Mail on Sunday newspapers.