Wednesday, 24 April 2013

ExxonMobil Signs Agreement on 500MW Power Plant

Mobil Producing Nigeria Unlimited (MPN), operator of the Nigerian National Petroleum Corporation (NNPC) and MPN Joint Venture, has signed a Seller’s Representative Agreement (SRA) for the Qua Iboe Power Project, located at Mobil’s Qua Iboe terminal in Akwa Ibom State.
The proposed power project includes the construction of a 500megawatt-capacity power plant as well as a 56-kilometre transmission line connecting the plant to the national grid at Ikot Abasi, also in the state.
MPN’s General Manager in charge of Public and Government Affairs, Mr. Paul Arinze, said in a statement that the signing of the SRA was “a critical part of the overall commercial framework that enables MPN to undertake power activities and facilitates the sale of power by MPN to Nigerian Bulk Electricity Trading Plc for itself and on behalf of the NNPC.”
Also speaking on the agreement, the Managing Director of Mobil Producing Nigeria, Mr. Mark Ward, said the project “is a tangible demonstration of MPN’s commitment to Nigeria and supports the president’s priority of providing electricity to the country.”

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