Virgin Forest Exploration & Production Limited has entered into a memorandum of understanding with a leading Nigerian gas processing company to advance its gas monetisation strategy across its producing assets.
The partnership is aimed at reducing gas flaring and converting associated gas from the company's oil production operations into marketable products, including domestic gas supply and liquefied petroleum gas (LPG). This initiative aligns with Nigeria's national gas flare-out programme and supports the company's environmental performance targets.
The gas volumes currently associated with Virgin Forest E&P's producing assets represent a meaningful commercial opportunity that has historically been underutilised. The new partnership will provide the technical expertise and infrastructure access needed to monetise these volumes responsibly and profitably.
"Gas is not a by-product — it is a strategic asset," said the company's Managing Director. "This partnership allows us to unlock value from resources we already hold while contributing to Nigeria's gas supply objectives."
Financial and technical details of the arrangement are subject to a definitive agreement, which is expected to be finalised in the coming months.