The Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mr Austen Oniwon, said in Abuja that the Olokola LNG project would employ more than 15,000 people at the peak of its construction.
A statement issued by NNPC’s spokesman, Dr Levi Ajuonuma, quoted Oniwon as also saying that the project when completed would process two billion cubic feet of gas per day as well as produce 12.8 million metric tonnes of LNG for export.
The project, Oniwon added, would supply 500million standard cubic feet of gas per day for local consumption.
He further said that croppers at the project site had been compensated by government while shareholders were awaiting the passage into law of the Petroleum Industry Bill.
The project is owned by Chevron, Shell, BG Group and NNPC in partnership with the Ogun and Ondo State Governments.
Established in 2005, the project achieved technical readiness and ground breaking in 2007 while the Value Improvement Exercise completed in 2008 led to lower project cost and higher LNG yield.
It would be recalled that President Goodluck Jonathan had last week inaugurated the project’s pioneer camp at Olokola.