Oil & Gas: FG Targets Delivery Of Key Projects In Last Quarter Of 2019
The Federal Government has revealed plans to make Final Investment Decisions (FIDs) on at least four key projects in the nation’s oil sector by the end of the fourth quarter (Q4) 2019 this year.
The investment decision was disclosed by the Minister of State for Petroleum Resources, Timipreye Sylva, who represented the President of the Federal Republic of Nigeria, at the ongoing 24th World Energy Congress (WEC) in Abu Dhabi, United Arab Emirates, on Tuesday.
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Sylva however said his vision is to make the sector vibrant and guarantee long term strategic investments and prosperity for Nigerians.
“My plan is to ensure that during my tenure, four Final Investment Decisions (FIDs) are taken. I am sure that within the next quarter, we should be able to conclude on some of these FIDs so as to grow the industry,” the Minister stated.
“As you are aware, we are focusing on the Ajaokuta-Kaduna-Kano (AKK) pipeline project which will address some of our power issues and encourage the setting up of local industries and businesses along different areas in Nigeria.”
Noting that it was unsustainable for Nigeria to continue to import petroleum products, Sylva urged the government to focus on the repair of its existing refineries.
