24 May 2021
TEMPLARS is Project Counsel advising UTM Offshore on the development and financing of Nigeria’s first Floating Liquefied Natural Gas (FLNG) project, which reached a significant milestone with the signing of the Pre-Front End Engineering Design (Pre-FEED) contract for the project with leading Japanese engineering company, JGC Corporation.
At the physical and virtual signing ceremony held at TEMPLARS’ office, UTM also signed the Owner’s Engineers Services Agreement with US-based Engineering, Procurement and Construction (EPC) company, Kellogg Brown & Root (KBR) who will also be responsible for a multi-disciplined due diligence review of the Pre-FEED being completed by JGC.
At the signing ceremony, the industry regulator, Department of Petroleum Resources (DPR), represented by Mr Sarki Auwalu, CEO/Director, DPR assured UTM of its unflagging support towards the successful execution and completion of the landmark project in a safe, cost-effective and timely manner.
The signings follow the issuance earlier this year of Nigeria’s 1st Licence-to-Establish (LTE) for an FLNG project to UTM by the DPR.
Speaking after the signing ceremony, Partner Dayo Okusami said ‘’We are proud to be a part of this trailblazing project. The success of the project is vital to the Nigerian Government’s ambition to transform Nigeria into a gas-based economy and maximize the gas potential of one of the largest natural gas reserves in Africa. UTM has taken the lead on this and Templars will continue to support the project until completion.’’
The Templars team is led by Partner, Dayo Okusami and supported by Partner Yemisi Awonuga. Other team members: Managing Counsel, Dupe Dabiri, Senior Associate, Bernard Ehigiamusor and Associates Damilola Oshodi and Clare Ohiro.
Templars is recognized as a leader in the Energy, Projects and Infrastructure sector and this transaction continues the firm’s trend of being at the forefront of the largest, most complex and first-to-market projects for gas, pipelines, power, petrochemicals, ports amongst others.