MoU with Indorama will generate over $18 billion – NNPCL

The Nigerian National Petroleum Company Limited has said that the recent Memorandum of Understanding (MoU) signed with Indorama will generate over $18 billion in revenue and monetize over 1.7 trillion cubic feet of gas.

The company said this in a statement signed by its Chief Corporate Communications Officer, Garba Deen Muhammad.

The statement read:

Key benefits of the opportunities include the monetization of over 1.7 TCF of gas and 100 million barrels of oil reserves, generation of upstream lifecycle revenue of over $18 billion, downstream production of about 4.8 million Tonnes Per Annum (MTPA) of products including methanol, urea, and fertilizer to boost national food security.