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.
UTM Offshore Limited is an indigenous oil and gas firm.
Director/Chief Executive Officer of DPR, Sarki Auwalu, said 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.
He noted that the gesture would ensure that companies come to Nigeria and do business in an equitable way to stimulate the economy and create jobs.
He promised that DPR would continue to create opportunities and enable business for companies by providing the regulatory tools of licence,
permits and approvals for investors.