N90bn Uquo Gas Project, Boost To Stable Power Supply – CEO

The Chief Executive
Officer of Seven Energy International Limited, Mr Philip Ihenacho, has said that the inauguration of the company’s N90 billion Uquo Gas Processing Facility in Esit Ekit, Akwa Ibom State by President Goodluck Jonathan would bring a major boost to the country’s quest for stable power supply.
Ihenacho said through its subsidiary, Accugas, Seven Energy has developed a midstream gas processing and transportation infrastructure, and that with its partners in the Uquo field, it had combined expertise to make the project a reality.
According to him, the facility is a bold step taken by the company to unlock the huge opportunities in the Nigerian gas market.
He said, “we are happy to see our investment culminate in the inauguration of this facility, which will support government’s effort to  improve power supply,  create  job opportunities for Nigerians and impact other sectors of the economy.
Ihenacho remarked that the impact of the project on power generation began to be felt as the first commercial gas deliveries commenced in early 2014 to the 190MW Ibom Power Station.
President Goodluck Jonathan lauded Seven Energy and its Joint Venture Partners, Frontier Oil Limited for the project and the impact it would have on the nation’s aspiration for sustainable Power supply.
Jonathan said, “We are happy with what we have seen today, seven Energy and Frontier Oil deserves commendation for combining their individual capacities to deliver this project,” stressing that it would have multiplier effect on the economy such as increasing national power output, employment opportunities for the host communities and Nigerians which translates to additional revenue for both the Federal Government and Akwa Ibom State.