May 22, 2024
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OIL & GAS RENEWABLE ENERGY

Nigeria: Oil and Gas Firm Begins Construction of $500m Storage Facility

Masters Energy Oil and Gas Limited, a Nigerian-based Oil and Gas firm has embarked on an audacious project of about $500 million for gas storage. This is in line with the Nigerian government’s gas infrastructure development and energy transition plans.

Patience Dappa, the Group Managing Director, Masters Energy Group, noted this while speaking during a groundbreaking ceremony for the gas infrastructure projects in Port Harcourt, the capital of oil-rich Rivers State in Southern Nigeria.

He said the company has an abiding faith in the country and was fully dedicated to investing more in the country’s critical infrastructure, THISDAY quoted her saying.

The project includes the construction of a 20,000MT gas storage in Port Harcourt, over 200 gas refilling outlets, over 2000 retail gas exchange outlets, bulk distribution trucks for LPG transportation and a dedicated vessel for coastal operations.

Dappa said the facility would provide jobs and create enormous ancillary businesses within the oil and gas eco-system for the country’s teeming population and contribute positively to the economic transformation of the host community and Nigeria at large.

She said the approval came, “just a few days ago, but as a testament to our readiness and commitment to this project, we are laying the foundation today.”

“In line with the federal government gas infrastructure development plan, we have decided to embark on this audacious project of about $500 million project which includes 20,000MT gas storage, over 200 gas refilling outlets, over 2000 retail gas exchange outlets, bulk distribution trucks for LPG transportation and a dedicated vessel for coastal operations.”

“Masters Energy Oil and Gas Limited was incorporated in Nigeria in 2005 and we have since expanded and diversified to assume leading sites not only in the oil and gas sector but in Power, EPC, Petrochemicals, Aviation, dredging and shore, Shipping and Marine businesses.

“Our corporate vision is to be the world’s bench-mark in the oil and gas industry, with a mission to deliver world-class services to our clients through sound management systems, innovation and technology; while ensuring adequate returns to our stakeholders.

“In line with the above, we have remained a highly creative company that is desirous of delivering unmatched values for stakeholders and partners. This has helped the company to break new ground and attain greater heights.

“These are the reasons why Masters Energy has proposed to build and operate a gas storage capacity of 20,000MT to receive and load out LPG( 28,000 CBM) and 12,000 CBM Propane.”

Dappa noted that the uniqueness of the project was that Masters Energy would be the first to go into combining household and industrial gas usage infrastructure.

Also to be included in this terminal when completed is a fully automatic bottle-filling machine (carousel) with a 1,200 bottling capacity per hour, she revealed.

“At the completion of this project, it will provide jobs and create enormous ancillary businesses within the oil and gas ecosystem for our teeming population and contribute positively to the economic transformation of the host community and Nigeria at large.

“As we commence work to deliver on this project, I want to take a moment to express my deepest gratitude to every one of you – our dedicated and hardworking team members. Your commitment, passion, and resilience have been the driving force behind our successes.

“As we anticipate the completion of this project in record time. we are very optimistic that the next time we invite you, it will be to commission this project. And we are here today to begin another layer of our corporate vision.

“And I must tell you we are excited about the possibilities that the future holds, as we empower communities, improve human capital and deliver a better country that we shall be proud of. We have an abiding faith in this country and we at Masters Energy are fully dedicated to investing more in this country’s critical infrastructure.”

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