October 28, 2021

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NCDMB moves to crash production cost with oil, gas park

By Adewale Sanyaolu

The Nigerian Content Development and Monitoring Board (NCDMB) has unveiled plans to develop an oil and gas industrial park in Ilaje, Ondo State, under its Nigerian Oil and Gas Park Scheme (NOGaPS).

When fully operational, the oil and gas industrial park will further help the aspiration of the Federal Government to crash oil production cost to less than $10 per barrel.

 A team from the Board recently visited the site with the Ondo State government officials to assess the location of the proposed oil and gas park in Ilaje area of the state.

The Ondo Oil and Gas Park is the sixth oil and gas industrial park under the portfolio of NOGaPS aimed at creating low-cost manufacturing hubs that will produce equipment components and spare parts to be utilised in the nation’s oil and gas industry.

The Ondo State Governor, Rotimi Akerodolu (SAN), and his Deputy, Lucky Aiyedatiwa, later received the team at the Government House in Akure, while the governor promised to provide full support for the timely realisation of the project in the state.

Governor Akerodolu commended the NCDMB for its efforts and for selecting Ondo as the next state in its NOGaPS development.

The development of oil and gas industrial parks dedicated to in-country manufacturing and value addition is part of NCDMB’s drive to deepen Nigerian Content in the oil and gas industry.

The parks form a huge part of NCDMB’s 10-year Strategic Roadmap, aimed at increasing the Nigerian Content level in the oil and gas industry to 70 per cent by 2027.

Two of the industrial parks in Emeyal 1, Bayelsa State, and Odukpani, Cross River State, are at advanced level of construction and are scheduled for commissioning before the end of 2022.

NCDMB is also developing the Oil and Gas Park project in Oguta in Imo State, Ikwe, Onna Local Government Area of Ibom State,  and in Delta State, as they are in different stages of development.

The post NCDMB moves to crash production cost with oil, gas park appeared first on The Sun Nigeria.

Source: news