• June 19, 2021

NCDMB Partnerships To Attract $3.7bn Investment Projects To Oil/Gas Industry

=== (AGENDAWATCHDOG) === The Nigerian Content Development and Monitoring Board (NCDMB) has disclosed that it was committing $332 million to attract multi-billion dollars developmental projects valued at $3.7 billion to the country via its participation in the country’s oil and gas sector.

This was disclosed by the Executive Secretary, NCDMB, Engr. Simbi Wabote, in Abuja during the opening section of the bi-annual Nigerian Oil & Gas Opportunity Fair, NOGOF, 2021, held virtually for the first time.

According to Wabote, the NCDMB was opening up the country’s oil and gas for local participation to encourage investment in the sector for the benefit of all Nigeria through its commercial ventures partnership programme, stressing that some of the partnerships the board had undertaken have led to the establishment of the recently inaugurated 5,000barrels per day Waltersmith Modular Refinery at Ibigwe, Imo State.

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Wabote also disclosed that the partnership has also given birth to NEDO Gas Processing Company in Kwale, Delta State for the establishment of 80million standard cubic feet per day gas processing plant and a 300MMscfd Kwale Gas Gathering hub, while other investments include the development of 5,000 metric tons LPG Storage and loading terminal facility by Triansel Gas Limited in Koko, Delta State and construction of Energy Park, inclusive of a modular refinery, power plant and 40MMscfd gas processing facility at Egbokor, Edo State by Duport Midstream.

NCDMB’s Executive Secretary also explained that the Board also partnered Brass Fertiliser for the development of a 10,000MT/day Methanol Plant and 500MMscfd gas processing plant at Odiama in Brass as well as with Rungas Group for the manufacturing of 1.2million composite LPG cylinders annually in Bayelsa and Lagos States and with Butane Energy to deepen LPG utilization in the North with the roll-out of LPG bottling plants and depots in Kano, Kaduna, Katsina, Bauchi, Nassarawa, Zamfara, Niger, Plateau, Gombe, Jigawa states and Abuja.

He pointed out that some of the Board’s partnerships would be completed and commissioned with the next two years, notably a modular refinery in Edo and Bayelsa State.

PROJECTED IMPACT: NCDMB’s ongoing (and proposed) commercial ventures partnerships are steps towards value creation and fair share of return on investment in the exploration of frontier basins, development of upstream gas fields and financing of greenfield/brownfield et.al. There are so many other opportunities abounding in Gas & Power infrastructure development, expansion of Gas Pipeline networks, development of Gas based industries as well as the Integrated Power Plants, waiting to be exploited by investors.

Agenda Watchdog

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