Lagos and London - 1 February, 2021: Seplat Petroleum Development Company Plc ("Seplat" or the "Company", a leading Nigerian independent energy company listed on both the Nigerian Stock Exchange and the London Stock Exchange, announces that its Incorporated Joint Venture ("IJV", the ANOH Gas Processing Company ("AGPC", has successfully raised US$260m in debt to fund completion of its ANOH Gas Processing Plant ("ANOH".

The 300MMscfd capacity ANOH plant, located on OML 53 in Imo State, is being built by AGPC, which is an IJV owned equally between Seplat and the Nigerian Gas Company ("NGC", a wholly owned subsidiary of Nigerian National Petroleum Corporation ("NNPC". Seplat and NGC have previously provided a combined US$420m in equity funding and the project is now fully funded.

The US$260m funding was provided by a consortium of seven banks: Stanbic IBTC Bank Plc (advisor), United Bank for Africa Plc, Zenith Bank Plc, FirstRand Bank Limited (London Branch) / RMB Nigeria Limited, The Mauritius Commercial Bank Limited, Union Bank of Nigeria Plc and FCMB Capital Markets Limited. It allows for an additional US$60m accordion at the time of completion to fund an equity rebalancing payment at that time, if considered appropriate. Funding commitments of more than US$450m were received by the company, which is a significant oversubscription and a strong sign of confidence in the project.

Following a cost optimisation programme, the AGPC construction cost is now expected to be no more than US$650m, inclusive of financing costs and taxes, significantly lower than the original projected cost of US$700m.

ANOH is one of Nigeria's most strategic gas projects. It will help Nigeria to accelerate its transition away from small-scale diesel generators to cleaner, less expensive fuels such as natural gas for power generation. Seplat is a leading provider of natural gas to Nigeria's power sector, supplying around 30% of gas used for electricity generation.



Okechukwu Mba, Managing Director of ANOH Gas Processing Company said:

"Successfully closing the US$260 million debt facility means that the ANOH project is now fully funded. Once operational, AGPC will be a significant supplier of gas to Nigeria's power sector, supporting local employment and the cleaner generation of power for Nigerian homes and businesses. We conservatively estimate that the gas from AGPC will be enough to generate electricity for more than 5 million people".



http://tools.euroland.com/tools/PressReleases/GetPressRelease/?ID=3868017&lang=en-GB&companycode=services
Lalasticlala

SEPLAT/NNPC ANOH MULTI-BILLION NAIRA GAS PROJECT SET TO TRANSFORM NIGERIA’s ENERGY LANDSCAPE

The Imo State Governor, His Excellency Senator Hope Uzodinma, led by a team of Seplat executives went on a tour of the ANOH gas plant facility sited at Asaa, Ohaji/Egbema in Imo state. ANOH Gas Processing Company ("AGPC" is building the $700m ANOH gas plant. AGPC is an incorporated joint venture owned 50:50 by Seplat Petroleum Development Company and the Nigerian Gas Company ("NGC", a wholly-owned subsidiary of Nigerian National Petroleum Corporation ("NNPC".

The Seplat team comprising the Chairman, Dr ABC Orjiako; Chief Executive Officer, Roger Brown and other executives were on a courtesy call to the Governor and later took the Governor to the multi-million-dollar gas plant facility. Brown, the SEPLAT Chief Executive Officer in his speech, elaborated the numerous benefits of the ANOH gas plant to the immediate communities, the State and the country. He affirmed that the ANOH gas plant when completed would be a significant source of development providing gas to support the provision of the much-needed supply of power to millions of homes and businesses across Nigeria to facilitate better standard of living and drive economic growth. He reassured the Governor that the existence of the gas plant in the State would in addition to the provision of power, generate different levels of employment; drive the development and engagement of local contractors; facilitate skills transfer and development especially for the youth population; amongst other benefits.

The Seplat Chairman reiterated that the $700m gas project aimed at producing around 300 MMscfd reinforced SEPLAT's commitment towards its leading position in the energy transition to a cleaner source of energy while providing sustainable development of its host communities. He remarked that the ANOH gas project would, amongst other things, drive the growth of Liquefied Petroleum Gas (LPG) as an alternative to unclean fuels like firewood, charcoal, kerosene. He confirmed that the company is targeting the fourth quarter of 2021 for ANOH's first gas and assured the government and people of Imo State of its timely completion and commission.

The Imo State Governor, in his remarks, welcomed the SEPLAT team and commended the company and its partners NNPC for the significant investment made in the State with the ANOH gas plant. He pledged the State's continual support of the company in its quest to drive development in Imo State. He also commended the SEPLAT chairman Dr Orjiako for his leadership role and passion for growing the Seplat business and its host communities.

According to the Governor, the activities of SEPLAT and its subsidiary AGPC are impressively geared towards developing the economy of Imo State and positively impacting its people. He charged other organizations to emulate SEPLAT in their dealings with the State. He also urged SEPLAT to continue to boost its Corporate Social Responsibility (CSR) initiatives to enhance further the people's welfare and development of the community and its peoples.

The Governor summed up his remarks, saying: "SEPLAT enjoys tremendous goodwill and respect of the people, and the State is duty-bound to reciprocate. SEPLAT is a global entity, and its coming to Imo State is a blessing to us. Under my watch, SEPLAT will receive all the support needed for a win-win relationship that will benefit the economy of the State and the Imo people for a more constructive partnership, cordial and responsible relationship between SEPLAT and the State,"

At the ANOH gas plant site, leaders of its host communities of Assa, Ohaji, Egbema and others, were also in attendance to receive the Governor with fanfare.

Aside from Dr. ABC Orjiako and Roger Brown, other SEPLAT officials in the entourage included: Emeka Onwuka, Chief Financial Officer; Dr Chioma Nwachuku, General Manager, External Affairs and Communications; Ayodele Olatunde, General Manager, Managing Director, ANOH Gas Processing Company Limited and Okechukwu Mba, General Manager, Gas, amongst others.

The visit to Imo State is in line with the Seplat CEO's strategic plan since his resumption in office on August 1, 2020 to pay courtesy to the company's strategic stakeholders. The SEPLAT CEO, Roger Brown, on behalf of the company, thanked the Governor for the tremendous support accorded to facilitate the operations of AGPC and other SEPLAT operations in the State. He affirmed that this collaboration would boost delivery of the ANOH gas plant, a critical gas supply hub in Nigeria's burgeoning gas infrastructure network. ANOH is designed to supply the Eastern, Western and Northern gas pipeline systems.

[b]AGPC is a subsidiary of SEPLAT, a leading gas supplier to the domestic market with the contribution to Nigeria's power supply put at about 30 per cent. [/b]SEPLAT supports the federal government's diversification agenda with its contribution to the growth of the nation's power generation capacity. Delivery of the ANOH project will be a significant contributor to the Nigerian government's aspiration for increased power generation and diverse industrial and economic growth.

The ANOH gas plant project is premier amongst the 7 Critical Gas Development Projects initiative led by the Ministry of Petroleum and the Nigerian National Petroleum Corporation to drive the next phase of growth for the gas business.
https://seplatpetroleum.com/newsroom/seplatnnpc-anoh-multi-billion-naira-gas-project-set-to-transform-nigeria-s-energy-landscape/

Imo State is on the rise!
We now have an oil refinery and a major gas plant. Coupled with huge private sector investments in the property sector, I expect a significant boost to the GDP and IGR of the state going forward

I like the way Igbo owned world class brands like Seplat are spearheading this massive investments. Unlike those that shout our oyel, our oyel without adding any value or benefit, we own ours completely and its entire value chain. From the oil blocks, to the OML/prospecting, to exploitation and exploration.

I also saw where it was stated that the facility will serve both the East, West and North! So we don't just provide Nigeria with massive human resources but natural resources as well but haters and envious people will always hate

BastardWike:

[s]Imo State is on the rise!
We now have an oil refinery and a major gas plant. Coupled with huge private sector investments in the property sector, I expect a significant boost to the GDP and IGR of the state going forward

I like the way Igbo owned world class brands like Seplat are spearheading this massive investments. Unlike those that shout our oyel, our oyel without adding any value or benefit, we own ours completely and its entire value chain. From the oil blocks, to the OML/prospecting, to exploitation and exploration.

I also saw where it was stated that the facility will serve both the East, West and North! So we don't just provide Nigeria with massive human resources but natural resources as well but haters and envious people will always hate[/s]

Your 2 naira oil and gas na em u dey use make noise. Sai!

AwkaFinest:



Your 2 naira oil and gas na em u dey use make noise. Sai!

Chino the re.tar.ded fulani herdsman claiming to be from Anambra.
I wonder when you will have sense.

BastardWike:


Chino the re.tar.ded fulani herdsman claiming to be from Anambra.
I wonder when you will have sense.

See this ipob miscreant. You are jubilation over something that's not even up to 10% of what the people you are hating on have.

No wonder Wike keeps pounding the stu.pi.dity out of you guys.

AwkaFinest:



See this ipob miscreant. You are jubilation over something that's not even up to 10% of what the people you are hating on have.

No wonder Wike keeps pounding the stu.pi.dity out of you guys.

It’s clear you’re so pathetically insecure...the way you always compare whatever Ndigbo are doing with yours!

AwkaFinest:



See this ipob miscreant. You are jubilation over something that's not even up to 10% of what the people you are hating on have.

No wonder Wike keeps pounding the stu.pi.dity out of you guys.

"You are jubilation" indeed, abo.ki nama

AwkaFinest:



See this ipob miscreant. You are jubilation over something that's not even up to 10% of what the people you are hating on have.

No wonder Wike keeps pounding the stu.pi.dity out of you guys.

Are you here to discuss and learn or just the usual clannish diatribe?

Imo State has the highest Gas reserve in Nigeria. Oil is past, the future of petrochemical is Gas and Southeast reserves are largest in Nigeria

And yet no electricity and Social amenities in Ohaji egbema

post=98959401:
SEPLAT/NNPC ANOH MULTI-BILLION NAIRA GAS PROJECT SET TO TRANSFORM NIGERIA’s ENERGY LANDSCAPE

The Imo State Governor, His Excellency Senator Hope Uzodinma, led by a team of Seplat executives went on a tour of the ANOH gas plant facility sited at Asaa, Ohaji/Egbema in Imo state. ANOH Gas Processing Company ("AGPC" is building the $700m ANOH gas plant. AGPC is an incorporated joint venture owned 50:50 by Seplat Petroleum Development Company and the Nigerian Gas Company ("NGC", a wholly-owned subsidiary of Nigerian National Petroleum Corporation ("NNPC".

The Seplat team comprising the Chairman, Dr ABC Orjiako; Chief Executive Officer, Roger Brown and other executives were on a courtesy call to the Governor and later took the Governor to the multi-million-dollar gas plant facility. Brown, the SEPLAT Chief Executive Officer in his speech, elaborated the numerous benefits of the ANOH gas plant to the immediate communities, the State and the country. He affirmed that the ANOH gas plant when completed would be a significant source of development providing gas to support the provision of the much-needed supply of power to millions of homes and businesses across Nigeria to facilitate better standard of living and drive economic growth. He reassured the Governor that the existence of the gas plant in the State would in addition to the provision of power, generate different levels of employment; drive the development and engagement of local contractors; facilitate skills transfer and development especially for the youth population; amongst other benefits.

The Seplat Chairman reiterated that the $700m gas project aimed at producing around 300 MMscfd reinforced SEPLAT's commitment towards its leading position in the energy transition to a cleaner source of energy while providing sustainable development of its host communities. He remarked that the ANOH gas project would, amongst other things, drive the growth of Liquefied Petroleum Gas (LPG) as an alternative to unclean fuels like firewood, charcoal, kerosene. He confirmed that the company is targeting the fourth quarter of 2021 for ANOH's first gas and assured the government and people of Imo State of its timely completion and commission.

The Imo State Governor, in his remarks, welcomed the SEPLAT team and commended the company and its partners NNPC for the significant investment made in the State with the ANOH gas plant. He pledged the State's continual support of the company in its quest to drive development in Imo State. He also commended the SEPLAT chairman Dr Orjiako for his leadership role and passion for growing the Seplat business and its host communities.

According to the Governor, the activities of SEPLAT and its subsidiary AGPC are impressively geared towards developing the economy of Imo State and positively impacting its people. He charged other organizations to emulate SEPLAT in their dealings with the State. He also urged SEPLAT to continue to boost its Corporate Social Responsibility (CSR) initiatives to enhance further the people's welfare and development of the community and its peoples.

The Governor summed up his remarks, saying: "SEPLAT enjoys tremendous goodwill and respect of the people, and the State is duty-bound to reciprocate. SEPLAT is a global entity, and its coming to Imo State is a blessing to us. Under my watch, SEPLAT will receive all the support needed for a win-win relationship that will benefit the economy of the State and the Imo people for a more constructive partnership, cordial and responsible relationship between SEPLAT and the State,"

At the ANOH gas plant site, leaders of its host communities of Assa, Ohaji, Egbema and others, were also in attendance to receive the Governor with fanfare.

Aside from Dr. ABC Orjiako and Roger Brown, other SEPLAT officials in the entourage included: Emeka Onwuka, Chief Financial Officer; Dr Chioma Nwachuku, General Manager, External Affairs and Communications; Ayodele Olatunde, General Manager, Managing Director, ANOH Gas Processing Company Limited and Okechukwu Mba, General Manager, Gas, amongst others.

The visit to Imo State is in line with the Seplat CEO's strategic plan since his resumption in office on August 1, 2020 to pay courtesy to the company's strategic stakeholders. The SEPLAT CEO, Roger Brown, on behalf of the company, thanked the Governor for the tremendous support accorded to facilitate the operations of AGPC and other SEPLAT operations in the State. He affirmed that this collaboration would boost delivery of the ANOH gas plant, a critical gas supply hub in Nigeria's burgeoning gas infrastructure network. ANOH is designed to supply the Eastern, Western and Northern gas pipeline systems.

[b]AGPC is a subsidiary of SEPLAT, a leading gas supplier to the domestic market with the contribution to Nigeria's power supply put at about 30 per cent. [/b]SEPLAT supports the federal government's diversification agenda with its contribution to the growth of the nation's power generation capacity. Delivery of the ANOH project will be a significant contributor to the Nigerian government's aspiration for increased power generation and diverse industrial and economic growth.

The ANOH gas plant project is premier amongst the 7 Critical Gas Development Projects initiative led by the Ministry of Petroleum and the Nigerian National Petroleum Corporation to drive the next phase of growth for the gas business.

Lolachef:
And yet no electricity and Social amenities in Ohaji egbema

Not completed yet

Good news

In addition to powering Lagos with its Gas, IMO will also join in powering the Northerner gas line

Lalasticlala

AwkaFinest:



Your 2 naira oil and gas na em u dey use make noise. Sai!

Afonja feeling pains from good news

MadamExcellency:


Are you here to discuss and learn or just the usual clannish diatribe?

Imo State has the highest Gas reserve in Nigeria. Oil is past, the future of petrochemical is Gas and Southeast reserves are largest in Nigeria

Imo has the highest gas reserve bla bla bla, yet states like Delta, Rivers, Akwa Ibom and Bayelsa keep producing more gas than Imo.
Keep deluding yourself


I don see u wey dey here to learn. Ipob miscreant.

AwkaFinest:


Imo has the highest gas reserve bla bla bla, yet states like Delta, Rivers, Akwa Ibom and Bayelsa keep producing more gas than Imo.
Keep deluding yourself


I don see u wey dey here to learn. Ipob miscreant.

you are an idiot, I don't know how you people reason, he said Imo State has the highest gas reserves in Nigeria, not the highest in exploration

My families have never ever in their lives seen nepa light

post=98963177:

Not completed yet