OB3 gas pipeline will be completed in March 2024 – Minister
Emmanuella Anokam
The Federal Government says the Obiafu/Obrikom/Oben (OB3) Gas Pipeline will be completed in March 2024.
The Minister of State for Petroleum Resources (Gas), Mr Ekperikpe Ekpo, made this known at the official opening of the 7th edition of the Nigeria International Energy Summit (NIES 2024) on Tuesday at the presidential banquet hall, Abuja.
The News Agency of Nigeria (NAN) reports that the gas pipeline runs from the Obiafu-Obrikom gas plant near Omoku, Rivers State, to Oben in Edo State.
The pipeline is being constructed by the Nigerian National Petroleum Company Ltd. (NNPC Ltd.) and was initially intended to be completed by the end of 2017 but met technical challenges, including horizontal drilling under major rivers.
Ekpo, while announcing the completion deadline of the OB3 pipeline said the 42″ 127 km pipeline would supply two billion Cubic Feet (2BCF) of gas daily.
“Upon completion, this pipeline will provide the AKK pipeline with gas from the three fields of Obiafu, Obrikom, and Oben.
“I want to use this opportunity to appreciate the resilience of the NNPC Ltd. Group for their steadfastness and proactive approach to ensuring the timely completion of the OB3 pipeline project.
“The OB3 gas pipeline is a vital piece of gas infrastructure for the supply of feedstock to the Ajaokuta-Kaduna-Kano (AKK) pipeline, another milestone in our journey towards a gas-focused economy.
“OB3 is a construction phase natural gas pipeline, running from the Obiafu-Obrikom gas plant to the Oben node in Nigeria.
“I am pleased to report that significant progress has been made in constructing this critical infrastructure project, and we are on track to ensure its completion and inauguration as scheduled,” the minister said.
According to Ekpo, the pipeline is among Nigeria and Africa’s biggest gas transmission systems.
He said that the administration of President Bola Tinubu was fully committed to creating an environment that could enable the growth of the gas sector.
The minister also said that the administration implemented policies and regulatory frameworks that encouraged investment, promotion of innovation, and ensuring sustainability.
He said the gas industry, with abundant proven gas reserves of more than 208TCF and further exploration potential, was crucial for enhancing energy security.
“Nigeria is currently facing challenges as it continues the journey of National development. These challenges also present a unique opportunity to seize the moment and define the future.
“The nation is rich in natural gas reserves. It is now essential to strategically utilise these resources to drive economic development, job creation, poverty eradication and environmental sustainability.
“As we are all aware, over dependence on oil revenue poses significant economic risks for our nation,” he said.
The minister said that Nigeria had faced numerous challenges in spite of efforts to diversify the economy away from oil dependence.
He said innovation and strategic vision became imperative in times of challenge, adding that finance was essential for transformative endeavours, as the gas sector was no exception.
The minister said attracting domestic and foreign investments was key to unlocking the full potential of the country’s gas resources.
In his remarks, Mr Abdulrazaq Isa, Chairman, Indigenous Petroleum Producers Group (IPPG)/Waltersmith Group, advocated for accelerated oil and gas production and progressively investment for rapid growth.
He described Nigeria as the largest oil and gas producer in Africa, and the largest in most experienced indigenous workforce in oil and gas and financial services on the continent.
“I strongly advocate that the headquarters of the Africa Energy Bank, being midwifed by African Petroleum Producers Organisation (APPO) and Afrexim Bank be located in Nigeria.
“The concerted efforts through the leadership of the ministry of petroleum resources should be put in place to realise this,” he appealed.
Dr Omar Farouk, Secretary-General, APPO, in his remark said, the decision on where to locate the proposed African Energy Bank would be taken by the end of the first quarter of 2024 as seven countries including Nigeria have declared interest to host the bank. (NAN)(www.nannews.ng)
=========
Edited by Emmanuel Afonne
Published By
Has also recently published
General NewsJune 27, 2024Nigeria requires N348trn to address infrastructure deficit -ICRC D-G
BusinessJune 26, 2024Ways and means securitisation responsible for N24trn debt rise – DMO
SportsJune 26, 2024Paris Olympics: We’re ready to surpass previous achievements – NOC
Defence/SecurityJune 26, 2024Recruitment: Okiro urges harmony between PSC, Police
