Total Exploration and Production and the Nigerian National Petroleum Corporation (NNPC) have revealed plans to invest $5.7 billion for the development of the Oil Mining Lease (OML) 58 production facilities so as to meet the federal government’s gas flare out policy.

According to the Managing Director of Total, Nicolas Terraz, the aim of the OML 58 development projects was to increase the supply of gas for industrial and domestic use as well as increase the supplies to the Nigerian Liquefied Natural Gas (NLNG) in Bonny Island and a total of $5.5 billion had already been spent on the facilities.

Terraz noted that the projects in the OML 58 upgrade includes the Ogbogu Flow Station (OFS), the Field Logistics Base (FLB), the Obite Treatment Centre (OTC), Obite, Ubeta, Rumuji (OUR) pipeline and the Northern Option Pipeline (NOPL).

He added that the money to be invested in the project which will be completed in July this year, was a way for the company to show its support for the federal government’s plans on gas utilization and advancement in the area of power supply.

Total is the operator of the NNPC/Total joint venture in charge of the OML 58 upgrade projects, This Day reports.

Anita Fatunji