A Nigerian oil and gas firm, Midwestern Oil & Gas Company Limited has inaugurated four multi-million dollar facilities in Delta state in Southwestern Nigeria.
The Group Managing Director of the company, Mr. Charlies Odita, told journalists on Tuesday at Umusadege in Kwale,in Delta State that the company, which is the operator of Oil Mining Licence (OML) 56, increased its oil processing capacity from 25,000 to 40,000 barrels of oil per day in Umusadege, Kwale, in Ndokwa West Local Government Area of Delta state.
Odita explained that despite the daunting challenges posed by regulatory agency restrictions and the capital-intensive nature of the project, the company with its Joint Venture partners, SunTrust and others were able to overcame with focus on the new projects, which is aimed at optimizing hydrocarbon recovery with low cost.
He disclosed that the companies have also stepped up gas processing capacity from 15 to 25 million standard cubic feet per day and its storage capacity from 29,000 to 110,000 barrels of oil per day facilities, while confirming the acquisition of two compressors that would deliver 6.5mmscf of gas each, which were among the multi-million dollars project.
“While major challenges arose from regulatory agency restrictions and the capital-intensive nature of the project, diligent management of resources and cooperation of the partners were able to surmount all obstacles and come up with the resultant investment.
“Today is a memorable and glorious day in the history of oil and gas in Nigeria, as we, (Midwestern Oil & Gas Company Limited) with our Joint Venture partners are commissioning four major projects.
“Abandonment of such projects in our industry is not unusual and “we are indeed proud of this remarkable achievement” ;local media reports on Wednesday quoted Mr. Odita as saying.
“The value of the three-fold increment in our gas processing, oil processing and storage is immense and by adding the two compressors that will deliver 6.5 mmscf of gas, we have set a course for a bright future for us and our Joint Venture partners.
“We have also positioned our host communities for industrial excellence, and this is due to the cordial support they have given us from the onset of our operations in their communities,” he said.
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GIK/APA