Oil firm to sign FEED agreement for Nigeria’s first FLNG facility
An indigenous petroleum corporation, UTM Offshore, will formalize a front-end engineering design (FEED) contract for Nigeria’s inaugural floating liquefied natural gas (FLNG) facility today.
Reportedly, UTM Offshore, Technip Energies, KBR, and JGC Corporation will formalize the FEED contract in London.
The project will automatically transition to the execution phase once the contract is finalized.
The African Export-Import Bank (Afreximbank) disclosed in July 2022 that it had formalized a contract with UTM Offshore for financing a project preparation facility. Initiatives aimed at propelling the company’s FLNG project towards financial viability will receive partial funding from Afreximbank.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), previo...