NIGERIA- Seplat Petroleum Development Company, has unveiled plans of investing US$700 million in constructing a gas processing plant in Imo State, Nigeria.

Dr. Bryant Orjiako, Chairman of Seplat revealed that the plant, to be located in the Ohaji Egbema Council Area of Imo state, will focus on the development and commercialization of gas.

Orjiako revealed the company’s plans when he led the management team on a courtesy call on the Imo Governor, Emeka Ihedioha. He said that the proposed company, would transform the state in all spheres once it is fully operational.

While highlighting the achievements of Seplat in the Niger Delta, Mr. Ojiako called on state government and the host communities to create the enabling environment for the project to materialise.

 Seplat’s President said, “Shortly after we acquired our asset, OML 53, in Imo state in 2016, we have incrementally ramped our production”.

 Seplat used to produce less than 3,000 barrels per day before the acquisition of OML 53.

It has however been able to increase its production incrementally and today it produces about 9,000 barrels per day.

According to the company’s president, plans are underway to increase production to 15,000 a day within the next 12 months.

OML 53 was acquired from Chevron, a US oil multinational corporation.

Currently, Seplat is the only indigenous company with significant gas production capacity.

It produces about 30 percent of Nigeria’s total gas production.

Early this year, Seplat invested US$700 million dollars in the ANOH project phase one, situated in Imo state.

The Chief Executive Officer of Seplat, Mr Austin Avuru, assured the governor that the company would fulfil its corporate social responsibility to the state and host communities.

He further added that the company was going to provide job opportunities to the locals.

This will not only improve the livelihoods of the beneficiaries but also foster deeper cooperation with the communities.

Seplat also intends to build a gas to plant infrastructure in Ohaji Egbema to enable it supply the local market there.