Bayelsa, C’ River Oil, Gas Parks for Completion in 2022

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Emmanuel Addeh in Abuja
The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote, has revealed that the oil and gas parks in Bayelsa and Cross River would be completed next year.

Speaking at the 10th Practical Nigerian Content (PNC) Conference in Yenagoa, Bayelsa State, which ended yesterday, Wabote stressed specifically that the projects would be commissioned by the fourth quarter of 2022.

He emphasised that the provision of reliable power generation and distribution was one of the key requirements to commence operations at the park.

The executive secretary noted that to guarantee this, the board signed an agreement at the second day of the PNC with the Gas Aggregation Company of Nigeria (GACN) and INFINI Power Limited for provision of reliable power to the two industrial parks.

He listed other plans of the board for 2022 to include the completion of the engineering design of Brass Island Shipyard and commencement of roadshows to secure investment partners.

Other scheduled programmes, according to him, include the commissioning of the 2,000 barrels per day Atlantic Modular Refinery in Brass and commissioning of the 400,000 per year Rungas LPG composite cylinder manufacturing plant in Polaku, Bayelsa State.

Wabote stated that the board also plans to commission the 48,000 litres per day base oil production plant located in Omagwa Rivers State and commission the 30MMscf Nedo gas processing plant and the 300MMscfd gas hub tied to the OB-3 pipeline in Kwale, Delta state.

Speaking further, he announced that the board has acquired land for the construction of 200-room NCDMB conference hostel accommodation in Yenagoa for delegates and guests to the various conferences hosted by the board.

He noted that the calendar of conferences hosted by NCDMB was getting busy with events, especially with the opening of the Bayelsa airport.

He added: “It is only logical that we put in place a decent conference hostel to further enrich the experience of our conference participants.”

In the area of funding, Wabote stated that the Nigerian Content Intervention Fund (NCIF) had been expanded from $200million to $400million, with $350 million from NCDMB and $50million from NEXIM bank.

“Additional products for working capital and loans for women in oil and gas were also introduced. NEXIM bank has completed processing of the loan approval for the first set of beneficiaries of the funds under their management, ”he said.