Gas supply to facilitate addition of 560MW of additional generation
capacity into the grid
Seven Energy International Limited (“Seven Energy”), the indigenous
Nigerian integrated gas Company has commenced the supply of gas to the 560 MW
Calabar National Integrated Power Project (“NIPP”). The commercial delivery of
gas to Calabar NIPP commenced in March 2015, and is being executed through
Accugas, a wholly-owned subsidiary of Seven Energy. When operating at full
capacity Calabar NIPP will increase national power generation by over 10%.
Gas is being supplied to the power
plant from Seven Energy’s Uquo Gas Processing Facility in Akwa Ibom State
through the Seven Energy pipeline network. The gas supply will enable the power
plant to complete commissioning and start delivering electricity into the national
grid.
Commenting on the achievement, Phillip
Ihenacho, Chief Executive Officer, Seven Energy, said; “Delivering a cost effective and reliable gas supply is critical to providing
sustainable power supply into the national grid to meet the government’s reform
objectives and to facilitate industrial development. I am delighted that our
ability to deliver an indigenous gas solution, from end to end is now being
recognised by a broad range of industrial and power sector customers. Not only
will the gas we supply drive enhanced power generation, but when combined with
improvements in transmission and distribution it will also facilitate
industrial and commercial developments which will have a far reaching impact
throughout the community, stimulating industry and generating employment as a
result.”
Steve
Tierney, Managing Director, Accugas said “The Calabar NIPP is a
major power plant in Calabar and a further endorsement of the
quality and reliability of our services. Our strong capability across the
region with ownership of gas reserves and pipeline infrastructure have enabled
us to commercialise our gas assets, delivering a solution that the market has
been demanding for many years. We are ready and look forward to adding more
customers to our network across the South East of Nigeria, bringing affordable
and reliable gas to a wider audience.”
Seven Energy has continued to champion
an industrial gas revolution through the development and production of natural
gas, and, critically, its commercialisation through investment in processing
and distribution infrastructure, where the Company has invested over $1 billion
in the south east region of the Niger Delta in the last 5 years.
With significant capacity built into
its distribution infrastructure, the Company is capable of providing a
long-term supply of gas to additional off takers for power generation and for
local industry.
Since the
commissioning of the Uquo Gas Processing Facility in 2014, Seven Energy has
begun the supply of gas to other off takers such as the Ibom Power Company,
Notore Chemical Industries Limited and the United Cement Company of Nigeria,
also in Calabar.
Seven Energy International Limited, an integrated gas company in the country with oil and gas interests in the South East region, on Wednesday said it had secured $100m of new equity capital to boost gas delivery to the domestic market.
Seven Energy Finance Limited, together with its parent company Seven Energy International Limited, the indigenous Nigerian oil and integrated gas company, posted a loss after tax for the six months ended 30 June 2015, compared to a profit of $27m in the first half of 2014.
Seven Energy International Limited (“Seven
Energy”), the independent
Nigerian integrated gas development, production and distribution company, and its subsidiary company Universal Energy Resources Ltd, announce
the commencement of crude oil production from the Stubb Creek Field, in Akwa
Ibom State, following approval to embark on delivery of oil through ExxonMobil’s
Qua Iboe Terminal.
Production at Stubb Creek is also important
because it marks the attainment of first oil at one of the marginal fields
allocated to indigenous companies. This realises the original intention of the
marginal field round to enable domestic companies to bring smaller, unutilized
fields on-stream, enhancing both domestic ownership and national production,
and so revenue.”
Nigeria: February 07, 2015: Seven Energy
International Limited (“Seven Energy”), the indigenous Nigerian oil and
gas development, production and gas distribution Company has emerged as the
winner of the Indigenous Firm of the Year Award, conferred by the Petroleum
Africa magazine. The award is given in recognition of Africa’s indigenous Oil
and Gas Companies for their investment and involvement in upstream, midstream
and downstream operations.
Petroleum
Africa commended Seven Energy for its “well-executed
work program and diversification strategy“ in 2014. The choice of Seven
Energy as the Indigenous Firm of the Year was based on the Company’s
achievements in 2014 which included the production and supply of gas to the
Ibom Power Plant in Akwa Ibom State, the completion of the second train at the
Uquo Gas processing facility, achieving 200 MMcfpd ("million cubic feet per
day") of gas processing capacity, and the formal
commissioning of the Uquo Gas Processing facility by President Goodluck
Jonathan. Other achievements in 2014 included obtaining a $170 million 5.5 year
loan facility to support the acquisition of East Horizon Gas Company Limited,
which owns the 128 km East Horizon gas pipeline and holds a 25 MMcfpd gas sales
agreement with Unicem, one of Nigeria’s largest cement plants; and, the
acquisition of SRL 905 Holdings Limited, which holds a 40% interest in OPL 905.
Financially, Seven Energy completed the placement of $400 million Senior
Secured Notes, and also secured a $255 million new equity capital from Temasek,
the international Finance Corporation (“IFC”) and the IFC African, Latin
American and Caribbean (“ALAC”) fund to further develop gas opportunities in
Nigeria’s domestic gas market.
An indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchanges, Oando Plc, plans to increase its crude oil production capacity to 100,000 barrels per day over the next five years after completing the acquisition of ConocoPhillips’ (COP) Nigerian assets for $1.65 billion in July.
