We are in advanced discussions with Karpowership of Turkey for the fully funded development of Power Barges in Nigeria.

Our strategy is to collocate power barges proximal to our owned and operated gas assets and gas processing facilities (proximal to Ace FLNG) within the Escravos/Forcados hub.

Hence processed gas supply to our power plant will be guaranteed from a collocated gas processing facility to be designed, installed, and operated by Ace Gas and FLNG Midstream Company.

The project will be developed over 2 phases. Phase 1 will deliver 500MW of power to the grid while Phase 2 will expand this capacity to 1000MW.

Where required we will invest in transmission station infrastructure upgrades.

Power supply will be hinged on NERC’s new policy which allows the direct power supply to willing states through the local discos via a decentralized and decongested grid system.

Our Power plant is properly sized and situated to provide grid stabilization.

We will target power supply to highly industrialized states like Lagos, Kano, Rivers, Delta, and Kaduna with a strong focus on built electricity supply in a quantum of 50MW outside of the existing NBET framework.

Power Barge technology will be provided by Karpowership our strategic technical partners. 120MMSCFd of gas required for this project will be sourced from the oil and gas assets that we own with additional supply security from several proximal stranded gas fields in the Escravos/Forcados area within a 30 to 50km radius of our power barge location.

We will work with the discos to implement a smart grid system to boost collection efficiencies and improve overall project viability.