Akwa Ibom State and Ibeno Community due to their strategic locations in the oil and gas rich Niger Delta region of the country is the first largest Petroleum producing state in Nigeria.
It has the largest offshore production and acreage that yields more petroleum reserves offshore than any other oil producing state in Nigeria.
Oil and Gas are available in commercial quantities in Ibeno, Mbo, Etinan, Idu, Enwang, MkpatEnin, and Onna Local Government Area of the State.
The oil and gas sector is a very viable sector open to both local and international discern investors who are interested in the Mid – Down and upstream sectors exploration and exploitation and gas development, conversion and crude oil marketing.
Also available are opportunities in seismic data acquisition, processing and geotechnical engineering oil field service companies, gas – powered industries and marginal fields.
The abundant natural resources in the state backed with liberal government economic policies including profit repatriation for our foreign investors make Akwa Ibom State and oil producing communities veritable markets for potential investors.Ibeno in Akwa Ibom State is blessed with abundant opportunities for investments in the oil & gas and the solid minerals sectors.
A summary of key strategic benefits from (LPG – NGL) gas utilization project ranks this project as the top investment opportunity for discerning investors. This is based on the ever growing demand for natural gas liquids products fueled by the growth in population and production and consumption activities around the world.
The project target is to produce multi – products gases from Nigeria’s huge gas potentials that are high grade gas quality with 0% or low in sulphur that is rich in natural gas liquids which makes it environmentally friendly and acceptable in the world.
Following a detailed analysis of the market for liquefied petroleum gas (LPG), natural petroleum gasoline and gaseous derivatives for local and international consumers. We drew on our financial conversations and the viability of
economic projections that the Homeland Gas project is an equitably profitable venture.
There is a further plan to construct physical infrastructure petrochemicals such as : Methanol, Urea, Ethylene, Mixed Alcohol and Gas to Liquid Plant to utilize the abundant natural gas stock in the area.
The following summarises other potential demand through gas utilization processes from the Nigerian gas market survey :
There is significant investment opportunities in the LPG and other derivatives sub – sector.
Significant percentage of the Nigerian population depends on liquefied petroleum gas (LPG) for their cooking and other domestic uses.
Furthermore, industries, government parastatals, hospitality establishments, hospitals, the fast food industry, restaurants, bakeries, and so forth, all make use of gas for commercial and business purposes. However, there is room for further investment and expansion to ensure significant penetration of untapped and undeserved markets in Nigeria.
Huge LPG market growth potential due to its high level viability in the state, being the gas hub of the region with added advantage will fully exploit the potentials for accelerated economic development in pursuit of a viable domestic, regional and other export markets.
High LPG potential demand from institutions, business organizations, and middle / high income households availability is guaranteed.
Tremendous increase & massive employment opportunities from an expanded LPG supply chain.
Potential synergy with the joint bulk LPG off – takers will reduce bulk importation cost and increase availability of the products for further re – export to regional markets.
Akwa Ibom State consolidating a position for natural gas unprecedented growth in potential demand through gas utilization.
More integrated infrastructures would be strategically located in the state to support domestic, regional and export of LNG markets.
The gas processing investment will attract new gas – based industries into the state gas value chain petrochemicals to commercialities for all kind of investments in the state.
The state and regional economy will attain full commercial states in domestic gas market availability; new industry players will invest in the oil & gas core infrastructures and in the energy sector of the economy in the area.
Market led investment in exploration, production and utilization projects will see an upsurge.
Re – positioning the Akwa Ibom State for viability as gas hub of the region.
Technology investment opportunities in the Nigerian gas sector of the State oil and gas business core zone.
Availability of internal developing markets as well as markets of neighboring countries which can prepare a way for export of products and also increase the share and role of companies in regional markets.
Survey Finding indicate that continued reforms in the sector, in line with the Nigerian Gas Master Plan (NGMP) with respect to policies on LPG processing; and across the industry value system will eventually lead to enhanced productivity and yield for potential and existing players.