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Sirius Engages Penspen In $1.2 bn Gas Development

Penspen has declared that it has won a contract from the Sirius Group to conduct an engineering study for the monetization of gas reserves from oilfields offshore Niger Delta.

A key element of this agreement is the development of gas reserves from the OML 122 field.

The study is being conducted as part of Project Dawn, a three-year development project worth $1.2 billion that includes the construction of a pipeline network to deliver natural gas to the Escravos-Lagos Pipeline System (ELPS).

The ELPS was designed and constructed under the supervision of Penspen over two decades ago. The gas from Project Dawn will feed power plants and different industrial applications in Nigeria.

Project Dawn is expected to introduce 250 Mmscf/d of natural gas under the gas sale and purchase agreement (GSPA) between Sirius Oilfield Support Services Ltd. and Nigerian Gas Company (NGC), a subsidiary of NNPC.

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