Southfield Petroleum

Southfield Petroleum Limited (“Southfield”) is an indigenous Oil and Gas Company with expertise in construction and development of Gas Processing Facility in Nigeria. Southfield was incorporated in 2007 with RC number 689735.

Southfield is developing a 200MMSCFD Gas Processing Facility in Utorogu, Delta state (“Project”). Southfield has a 10-year Gas Processing Agreement with ND Western and NPDC, joint owners of OML34 Gas Fields to process up to 300MMSCFD of gas.

OML 34 currently produces 270MMSCFD. The gas from this field currently flows into the ELPS (Escravos-Lagos Pipeline System) which provides up to 70% of the gas being used by the Power Generators for Nigeria.

The gas currently produced from the OML 34 is wet; contains impurities – liquids and other gases which damage the gas turbines for the power generators. Southfield’s business model is to construct the gas processing facility which removes these impurities and feeds the lean gas back into the pipelines.

Southfield has partnered with the Nigerian Content Monitoring and Development Board (“NCDMB”) Project through a Special Purpose Vehicle (SPL Utorogu Limited).

The Project would contribute to the reduction of gas flaring and air pollution while developing the much-needed gas infrastructure to meet government gas reform objectives. The project is also in line with the government’s plan to increase the gas sector and make it a commercially viable sector locally and internationally. It would also contribute to internally generated revenue of both Delta state and Nigeria while creating jobs and supporting businesses within the advertisement sector of the country.

Sage Grey, the financial advisor to SPL Utorogu Limited, was instrumental in securing $16.65 million debt and equity funding to finance the project.

http://southfieldgp.com/