The Local Content Act of the Federal Government has archived yet another milestone as CB Geophysical Solutions Limited unveiled an ultra-modern complex in Port Harcourt dedicated to support services in the oil and gas sector.
The company, in a statement on Wednesday, described the complex as a one-stop-shop facility with the capacity to carry out all kinds of geological, geophysical, reservoir and asset management services of international standard in Nigeria.
The Chairman/Chief Executive Officer, CB Geophysical Solutions Limited, Mr. Bank-Anthony Okoroafor, vowed that the company would build capacity to remain competitive for award of contracts in the oil and gas industry.
He said the company would grow the economy by creating several entrepreneurs in the country to actualise the Local Content Act of the Federal Government.
According to him, CB Geophysical Solutions offers proprietary software and technology in seismic acquisition and processing, stratigraphic and structural interpretation, integrated reservoir characterisation, geologic model and reservoir simulation.
He said, “We strive to supply excellent technical solutions to our clients. We strive to provide technical solutions to complicated geologic and reservoir development problems in complex sedimentary, carbonate, clastic and fractured volcanic reservoirs.
“Our technical solutions range from planning and execution of exploration projects, assessment for prospect and field, designing and documentation of field development plan, and integrated approach for brown field re-development, as well as enhanced oil recovery projects.”
In his remarks, the Executive Secretary, Nigerian Content Development and Monitoring Board, Mr. Ernest Nwapa, who was represented by Mr. Tunde Adelana, lauded the giant strides of CB Geophysical Solutions in building such edifice.
He noted that CBGS had proved that the Local Content Act was working in Nigeria, while urging stakeholders in the oil and gas industry to support CBGS.
The Chairman, Petroleum Technology Association of Nigeria, Mr. Emeka Eneh, stressed that CBGS had built capacity in line with PETAN’s efforts at sustaining the local economy.
According to Ene, PETAN members, which include CBGS, had employed over 500,000 workers in Nigeria.
Information from Punch was used in this report.