The Nigerian National Petroleum Corporation, (NNPC) and Sterling Exploration and Energy Production Company (SEEPCO), both partners in the Oil Mining Lease (OML) 143, have signed a Gas Development Agreement, (GDA).
The agreement between both parties was signed at NNPC Towers on Thursday.
The deal was said to be part of a commitment by the NNPC to facilitating the country’s transformation into a gas-powered economy and reduce gas flaring.
The agreement was signed by Mele Kyari, the group managing director of NNPC, and Tony Chukwueke, chairman of SEEPCO.
In a tweet, NNPC said the development provides the terms for the development of OML 143 in providing gas for the domestic market which aligns with the federal government’s national gas expansion programme (NGEP).
“@NNPCgroup, #SEEPCO, both partners in the Oil Mining Lease (OML) 143 have signed a Gas Development Agreement (GDA) at the #NNPCTowers today,” NNPC tweeted.
“This latest milestone provides the terms for the development of OML 143 Gas, providing gas for the domestic market which aligns perfectly with the Federal Government’s National Gas Expansion Programme,” it said.