The Department of Petroleum Resources (DPR) has issued Licence to Establish (LTE) the first floating LNG production plant for the processing of 176MMcfd natural gas and condensate to UTM Offshore Limited, an indigenous oil and gas firm, at a presentation at the DPR headquarters Abuja yesterday.

Presenting the licence, Director/Chief Executive Officer, DPR Sarki Auwalu explained that the milestone was a reinforcement of the promise and commitment of President Muhammadu Buhari to Nigerians to promote indigenous participation in the oil and gas sector and ensure that companies come to Nigeria and do business in an equitable way to stimulate the economy and create jobs.

Auwalu assured that DPR would continue to create opportunities and enable buisness for companies by providing the regulatory tools of licences, permits and approvals for investors.

The Managing Director of UTM Offshore Limited, Mr. Julius Rone promised to abide with the terms of issuance within the 24-month validity of the LTE from the date of issue.

Source: The Nation