A pre-feasibility study of Escravos GTL was conducted in April 1998, followed by an engineering feasibility study. The Front-End Engineering and Design (FEED) was completed in 2002.^[1] At the same year, agreements between Sasol, Chevron Corporation and Nigerian National Petroleum Company were signed.^[2] The construction contract was awarded in April 2005 to a consortium of JGC, KBR and Snamprogetti.^[1][3]

The GTL plant cost US$10 billion and started up in summer 2014; its original cost started out at US$1.9 billion in 2005, rising to US$5.9 billion in 2009 but continued to escalate.^[4] It has an initial capacity of 34,000 barrels per day (5,400 m³/d) of synfuel. The plant uses the Fischer–Tropsch process technology and Chevron's ISOCRACKING technology.

^[1] More than 325 million cubic feet of natural gas are converted daily by the Escravos GTL facility into GTL diesel and GTL naphtha. The CNL Escravos Gas facility Phase I (EGP-1) and the GTL facility are next to each other.[1]

The project was developed by Chevron Nigeria Limited (75%) and the Nigerian National Petroleum Company (15%).^[1] Sasol gained interest in the project early on, acquiring half of Chevron Nigeria's stake; however, due to increased cost and delays, Sasol reduced its stake to 10% in late 2008.^[5]