Newscoven
  • Home
  • News
    • All
    • Analysis
    • Feature
    • Interviews
    • Politics
    • Science
    • World
    Tinubu Receives Accolades For Posthumous National Award On Late Hajia Sawaba Gambo

    Tinubu Receives Accolades For Posthumous National Award On Late Hajia Sawaba Gambo

    Makinde Is A Promise-Keeper -Akintola, ex-APC Gov Aspirant

    Makinde Is A Promise-Keeper -Akintola, ex-APC Gov Aspirant (VIDEO)

    Aliiwo Day: Celebration Of Culture, Love, Unity

    Aliiwo Day: Celebration Of Culture, Love, Unity

    Alleged Plan To Turn Nigeria To One-Party State A Terrible Rumour -Tinubu

    Alleged Plan To Turn Nigeria To One-Party State A Terrible Rumour -Tinubu

    SAfER II: Dangote Commends Makinde As Oyo Distributes 10kg Rice To 30,000 Residents

    SAfER II: Dangote Lauds Makinde As Oyo Distributes 10kg Rice To 30,000 Residents

    Makinde Wiped Away Our Tears -Abatan, Secretary Oyo Pensioners Union

    VIDEO: Makinde Wiped Away Our Tears -Abatan, Secretary Oyo Pensioners Union

    Eid-el-Kabir: Makinde Advocates 6-Yr Single Term For President, Governors

    Eid-el-Kabir: Makinde Advocates 6-Yr Single Term Tenure For President, Governors

  • Entertainment
    Sanusi Becomes Sports Brand Ambassador In Malta

    Sanusi Becomes Sports Brand Ambassador In Malta

    Ilaji Holds Secondary School Basketball Competition

    Ilaji Holds Secondary School Basketball Competition

    My Life, My Trumpet -Ayomide Odunsi-IMO_TRUMP (SEE VIDEOS)

    INTERVIEW: My Life, My Trumpet -Ayomide Odunsi- IMO_TRUMP (SEE VIDEOS)

    Globacom Sponsors Premiere Of RMD’s Movie, Radio Voice 

    Globacom Sponsors Premiere Of RMD’s Movie, Radio Voice

    Christian Chukwu, Former National Football Team Captain, Dies @74

    Christian Chukwu, Former National Football Team Captain, Dies @74

    Eedris Abdulkareem Reacts As FG Bans His Song, Tell Your Papa (WATCH VIDEO)

    Eedris Abdulkareem Reacts As FG Bans Song, Tell Your Papa (WATCH VIDEO)

    Ghana Boxing Association (GBA) Confirms Deaths Of Nigerian Boxer, Olanrewaju

    Ghana Boxing Authority (GBA) Confirms Death Of Olanrewaju, Nigerian Boxer

  • About Us
  • Contact Us
  • More
    • Advertisement
    • Disclaimer
    • Privacy Policy
    • Terms of Use
Sunday, June 22, 2025
No Result
View All Result
  • Home
  • News
    • All
    • Analysis
    • Feature
    • Interviews
    • Politics
    • Science
    • World
    Tinubu Receives Accolades For Posthumous National Award On Late Hajia Sawaba Gambo

    Tinubu Receives Accolades For Posthumous National Award On Late Hajia Sawaba Gambo

    Makinde Is A Promise-Keeper -Akintola, ex-APC Gov Aspirant

    Makinde Is A Promise-Keeper -Akintola, ex-APC Gov Aspirant (VIDEO)

    Aliiwo Day: Celebration Of Culture, Love, Unity

    Aliiwo Day: Celebration Of Culture, Love, Unity

    Alleged Plan To Turn Nigeria To One-Party State A Terrible Rumour -Tinubu

    Alleged Plan To Turn Nigeria To One-Party State A Terrible Rumour -Tinubu

    SAfER II: Dangote Commends Makinde As Oyo Distributes 10kg Rice To 30,000 Residents

    SAfER II: Dangote Lauds Makinde As Oyo Distributes 10kg Rice To 30,000 Residents

    Makinde Wiped Away Our Tears -Abatan, Secretary Oyo Pensioners Union

    VIDEO: Makinde Wiped Away Our Tears -Abatan, Secretary Oyo Pensioners Union

    Eid-el-Kabir: Makinde Advocates 6-Yr Single Term For President, Governors

    Eid-el-Kabir: Makinde Advocates 6-Yr Single Term Tenure For President, Governors

  • Entertainment
    Sanusi Becomes Sports Brand Ambassador In Malta

    Sanusi Becomes Sports Brand Ambassador In Malta

    Ilaji Holds Secondary School Basketball Competition

    Ilaji Holds Secondary School Basketball Competition

    My Life, My Trumpet -Ayomide Odunsi-IMO_TRUMP (SEE VIDEOS)

    INTERVIEW: My Life, My Trumpet -Ayomide Odunsi- IMO_TRUMP (SEE VIDEOS)

    Globacom Sponsors Premiere Of RMD’s Movie, Radio Voice 

    Globacom Sponsors Premiere Of RMD’s Movie, Radio Voice

    Christian Chukwu, Former National Football Team Captain, Dies @74

    Christian Chukwu, Former National Football Team Captain, Dies @74

    Eedris Abdulkareem Reacts As FG Bans His Song, Tell Your Papa (WATCH VIDEO)

    Eedris Abdulkareem Reacts As FG Bans Song, Tell Your Papa (WATCH VIDEO)

    Ghana Boxing Association (GBA) Confirms Deaths Of Nigerian Boxer, Olanrewaju

    Ghana Boxing Authority (GBA) Confirms Death Of Olanrewaju, Nigerian Boxer

  • About Us
  • Contact Us
  • More
    • Advertisement
    • Disclaimer
    • Privacy Policy
    • Terms of Use
No Result
View All Result
Newscoven
No Result
View All Result
Home Business Energy | Oil & Gas

NNPC Ltd, TotalEnergies JV Announces US$550m FID On Ubeta Field Dev’t Project

•Kyari Lauds FG’s Presidential Executive Order On Oil, Gas Sector

Newscoven by Newscoven
June 21, 2024
in Energy | Oil & Gas
Reading Time: 3 mins read
7 1
A A
0
NNPC Ltd, TotalEnergies JV Announces US$550m FID On Ubeta Field Dev’t Project
12
SHARES
153
VIEWS
Share on WhatsappShare on FacebookShare on Twitter

In a major step towards boosting Nigeria’s oil and gas production, the NNPC-TotalEnergies JV has officially announced a 550 million USD Final Investment Decision (FID) on the Ubeta Field Development Project.

This was revealed in a press release in Abuja, dated 20 June, 2024, by the Chief Corporate Communications Officer, NNPC Ltd., Olufemi Soneye.

The milestone was in line with President Bola Ahmed Tinubu’s Presidential Executive Order on Oil and Gas Reforms, largely aimed at improving the investment climate and positioning Nigeria as the preferred investment destination for the oil and gas sector in Africa.

The Ubeta Field, discovered in 1964, North-West of Port Harcourt in the eastern part of the Niger Delta, will, once on stream, produce about 350MMScf/day of gas and 10,000 BBLS/day of associated liquids, tapping into the vast gas reserves and contributing towards securing gas supply to Nigeria Liquefied Natural Gas (NLNG) Limited.

RelatedPosts

I Sacrificed My Job As NNPCL Spokesperson For My Family -Soneye

Dangote Deploys 4,000 CNG Tankers To Enhance Nationwide Distribution Of PMS, Diesel

NNPCL Disowns Fake Financial Scheme

At the well-attended signing ceremony held at the NNPC Towers, the Group Chief Executive Officer, NNPC Limited, Mallam Mele Kyari, appreciated the support from stakeholders.

He highlighted the continuous support of the President Bola Tinubu administration in facilitating a conducive operational environment as a major enabler in achieving the success.

“We appreciate Mr. President for supporting us with the appropriate fiscal environment.

“The Presidential Executive Order is instrumental to us getting to this significant milestone, and we are now seeing the impact of the policy,” Kyari added.

In his remarks, Senior Vice President Africa, Exploration & Production, TotalEnergies, Mike Sangster, said: “Ubeta is the latest in a series of projects developed by TotalEnergies in Nigeria, most recently Ikike and Akpo West.

“I am pleased that we can launch this new gas project which has been made possible by the Government’s recent incentives for non-associated gas developments.

“Ubeta fits perfectly with our strategy of developing low-cost and low emission projects and will contribute to the Nigerian economy through higher NLNG exports.”

Earlier in his remarks, Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, said President Tinubu has significantly rekindled investor confidence in the oil and gas Industry, assuring Nigerians that more investments are on the way.

Also speaking, Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, said the project is a testament to the effectiveness of hovernment’s policies aimed at creating a conducive environment for investment in the gas sector.

Located in OML58, the Ubeta Gas Condensate Field will be developed with a new 6-well cluster connected to the existing Obite facilities through an 11km buried pipeline.

As stated in the release, production start-up is expected in 2027, with a plateau of 300 million cubic feet per day (about 70,000barrels of oil equivalent per day, including condensates).

“Gas from Ubeta will be supplied to NLNG, a liquefaction plant located in Bonny Island with an on-going capacity expansion from 22 to 30 Mtpa, in which NNPC Limited holds a 49 per cent interest.

‘Ubeta is a low-emission and low-cost development, leveraging on OML58 existing gas processing facilities.

“The carbon intensity of the project will be further reduced through a 5 MW solar plant currently under construction at the Obite site and the electrification of the drilling rig.

“TotalEnergies is working closely with NNPC Limited to enhance local content, with more than 90 per cent of man-hours which will be worked locally.

“The Ubeta FID justifies the effort invested by NNPC Limited, with unyielding Executive support, into tackling the underlying reasons that have plagued the attractiveness of the Nigerian oil and gas industry to foreign investors in recent years.

“The Ubeta project has a robust Nigerian Content plan and is poised to stimulate economic activities, create job opportunities, and create significant value for stakeholders,” it was further stated in the release.

author avatar
Newscoven
See Full Bio
Tags: $500m Ubeta Field Development ProjectNNPC LtdTotalEnergies JV
SendShare5Tweet3

Related Posts

I Sacrificed My NNPCL Job For My Family -Soneye

I Sacrificed My Job As NNPCL Spokesperson For My Family -Soneye

by Newscoven
June 22, 2025
0
35

Olufemi Soneye has said he sacrificed his job as the spokesperson of the Nigerian National Petroleum Company Limited (NNPCL) for...

Dangote Deploys 4,000 CNG Tankers To Enhance Nationwide Distribution Of PMS, Diesel

Dangote Deploys 4,000 CNG Tankers To Enhance Nationwide Distribution Of PMS, Diesel

by Newscoven
June 15, 2025
0
24

Dangote Petroleum Refinery has announced that it will, in August, deploy 4,000 Compressed Natural Gas (CNG)-powered tankers to transform nationwide...

NNPCL Disowns Fake Financial Scheme

NNPCL Disowns Fake Financial Scheme

by Newscoven
May 30, 2025
0
15

The Nigerian National Petroleum Company Limited (NNPCL) has disowned a fake AI-generated video circulating in the social media promoting a...

ICT | Science | Technology

NCC, Stakeholders Confront Rural Connectivity Challenges

NCC, Stakeholders Confront Rural Connectivity Challenges

June 12, 2025
13
Expert Calls For Recognition Of Achievements Of Women Engineers

Expert Seeks Recognition Of Achievements Of Women Engineers

June 1, 2025
139
FG, Globacom, Huawei Bridge Digital Divide With Pilot Project In Abuja Village

FG, Globacom, Huawei Bridge Digital Divide With Pilot Project In Abuja Village

May 31, 2025
57
NCC Orders Service Providers To Inform Consumers About Major Outages

NCC Orders Service Providers To Inform Consumers About Major Network Outages

May 26, 2025
99
Goloka Analytics Partners Meta On African Language Technology Project

Goloka Analytics Partners Meta On African Language Technology Project

April 23, 2025
52
Prev Next

Health

NNPCL Launches Free Cancer Screening Campaign •Targets 3,000 Nigerians

NNPCL Launches Free Cancer Screening Campaign •Targets 3,000 Nigerians

October 30, 2024
32

OYSHIA Receives Award Of Excellence

April 30, 2023
134

Charitable Wisemen Club Reaches Out To LASUTH Patients

September 10, 2023
89

Firm Donates N15m Worth Of Reusable Sanitary Pads To SPMC

June 3, 2022
365

National Police Day 2025: Ogun Command Conducts Free Medical Outreach

April 6, 2025
23

Masked People Administer Injections On Pupils In Lagos Private Schools Without Parental Consent -Tola Adeniyi

November 11, 2024
139
Prev Next
Newscoven

NewsCoven.com is an independent and unbiased online news medium determined to take a holistic approach to reportage of events, covering all spheres of human activities, with refreshed zeal and vigour.

Contact: +234-805-732-0978

Categories

  • Achievers | Appointments
  • Agriculture
  • Analysis
  • Arts | Book Review
  • Banking & Finance
  • Business
  • Church
  • Crime | Court | Judiciary | Security
  • Culture | Religion
  • Editorial | Discourse | Opinion
  • Education
  • Energy | Oil & Gas
  • Entertainment | Sports
  • Environment | Community | Eye Report | Metro
  • Feature
  • Health
  • Hotels | Travels | Tourism
  • ICT | Science | Technology
  • Interviews
  • Islam
  • News
  • Peoples | Events
  • Politics
  • Reflections With Dapo Falade
  • Science
  • Uncategorized
  • Woman's Essence by Motunrayo Busari
  • World

Recent News

I Sacrificed My NNPCL Job For My Family -Soneye

I Sacrificed My Job As NNPCL Spokesperson For My Family -Soneye

June 22, 2025
Again, Sanusi Embarks On Concrete Rehabilitation Of Ariyo-Akanran Road

Again, Sanusi Embarks On Concrete Rehabilitation Of Ariyo-Akanran Road

June 21, 2025
Tinubu Receives Accolades For Posthumous National Award On Late Hajia Sawaba Gambo

Tinubu Receives Accolades For Posthumous National Award On Late Hajia Sawaba Gambo

June 20, 2025

© 2024 NewsCoven - Beyond the Surface by DF Global Resources Enterprises.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • About Us
  • Advertisement
  • Breaking News | Latest Nigerian News Today
  • Checkout
  • Contact Us
  • Disclaimer
  • Home
  • Login/Register
  • My account
  • Privacy Policy
  • Terms of Use

© 2024 NewsCoven - Beyond the Surface by DF Global Resources Enterprises.