NCDMB offers $100m oil & gas investment opportunities to local oil firms

The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB) Mr Simbi Wabote, has offered about eighty potential projects with net value of some $100 million to indigenous oil firms in the next two years.

Wabote made this disclosure in Yenagoa, yesterday during his remarks at the opening ceremony of the 2019, Nigerian Oil And Gas Opportunity Fair, NOGOF 2019, where over 1,500 participants gathered to network on opportunities in the industry.

The theme of the fair is tagged “Maximizing oil and gas industry for benefit of Nigerian people”.
Wabote also called for policies to further drive establishment of modular refineries and local production of Liquefied Natural Gas, LPG cylinders.

According to Wabote, there are multiple opportunities in the oil and gas sector yet to be harnessed by indigenous operators as policies have been designed to drive the implementation by operators.

Wabote explained that despite the various achievements recorded in the milestones set, in 2017, opportunities are being offered to indigenous operators who take advantage of the five policy frameworks designed for the growth of the industry.

Specifically, he identified the opportunities to include ones driven by policies, funds, infrastructure, linkages and people.

He added that recent International Energy Agency (IEA) data revealed the rising demand for gas, especially from Africa, necessitating Nigeria to maximise the opportunities and play a key role in the sector.

On his part, Bayelsa State Governor, Mr Seriake Dickson assured operators of the commitment to stability in the state and region by oil producing state leaders.

He also emphasised the need for the international oil companies to commit to the environmental issues raised by communities adding that addressing such concerns further help the state administrators to make the environment conducive for their operations.

The governor said the government has deepened consultations with community leaders and other critical stakeholders to bring about lasting peace in the state, such that activities in the oil and gas industry will thrive.

Dickson said that part of the efforts resulted in rehabilitating about 15,000 youths who were pulled out of the creeks and currently in boarding house of model schools established by government.

He also demanded more commitment from major oil companies in the area of Corporate Social Responsibility, CSR to boost government rehabilitation strategies.

 

Source: Oriental News

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