NCDMB to support establishment of two modular refineries

Written by Maritime First

…As NNPC seeks investors on 10b barrels assets***

It is also planning to participate in the Liquefied Petroleum Gas (LPG) value chain if the conditions precedent, are in place, as well as drive the infrastructural development of the industrial parks, and finalise the review of Offshore Rig Acquisition Strategy.

The Executive Secretary, NCDMB, Simbi Wabote, said this at the 8th Practical Nigerian Content forum in Yenagoa, the Bayelsa State capital yesterday.

He said in 2019, the 10-year Research & Development roadmap will be launched for implementation.
He added: “We promised to put in place third party monitors to enhance compliance monitoring in the upstream, midstream, and downstream sectors of the industry. I am happy to report that after a very thorough tendering and selection process, we have kicked off the programme tailored along Sections 64 and 65 of the NOGICD Act. We also commenced the forensic audit of remittances to establish compliance with the provision on Nigerian Content Development Fund.”

According to him, Nigeria has continued to serve as resource country for the development of Africa Local Content Policy.

He added: “In 2019, we plan to validate and prioritise opportunity sectors for local content development. Regional marketing of some of the infrastructures is being developed such as the FPSO Integration facility will be further pursued.

“We will also ensure the posting of the 20 trained marine personnel for one year international sea time in fulfilment of the requirement for the Certificate of Competency.”

Speaking on the achievements of the NCDMB, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, said also commendable are the Board’s efforts to participate in the gas value chain.

“I am aware of ongoing discussions to support the establishment of LPG gas manufacturing plants and LPG depots. I believe the Board will also be a key player in the flares to value scheme being put in place as part of our gas policy. On our part, we have rolled up our sleeves to put in place and implement frameworks that are beginning to deliver the type of outcomes we desire in our industry,” Kachikwu said.

Represented by the Permanent Secretary of the ministry, Dr. Folashade Yemi-Esan, Kachikwu said the country has managed to stabilise our business environment and stem the tide of decline.

In the meantime, a multi-billion dollar investment opportunity in the nation’s deep-offshore frontiers was yesterday unveiled at the 10th World Energy Capital Assembly in London, United Kingdom.

It was part of the drive by the Nigerian National Petroleum Corporation (NNPC) to raise Nigeria’s crude oil reserve.

Delivering an address at the panel session titled: “Spotlight on Africa”, NNPC Group Managing Director Dr. Maikanti Baru said: “Globally, Nigeria has the highest untapped deep water resource of about 10 billion barrels of oil equivalent, in addition to other vast opportunities in the oil and gas value chain.”

Represented at the event by the Corporation’s Group General Manager, Corporate Planning & Strategy, Bala Wunti, the GMD explained that Nigeria has the largest and one of the most vibrant economies in Africa with lots of potentials, especially in the gas, refining and infrastructure space.

In a statement yesterday, NNPC spokesman Ndu Ughamadu, quoted him as saying:  “I invite you all to a country that has massive opportunities, very good business climate and good returns on investment.

“Our resilience has been tested, we have been through the booms and bursts and we came out stronger. With our experience, geographical location and capacity, Nigeria is the country of now and the future.”

He further explained that the corporation has a clear strategy for harnessing these potentials through collaboration and building robust partnerships as entrenched in its 12 business focus areas.

The World Energy Capital Assembly is a leading gathering of energy executives, finance and investment professionals to discuss emerging and re-emerging energy investment opportunities, review deals done and chart an outlook of energy related activities across the globe.

Guardian NG with additional report from The Nation

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Maritime First