Local Content in LNG Train 7 Rises to 60%– NCDMB
The Nigerian Content Development and Monitoring Board (NCDMB), has said that the construction of the Liquefied Natural Gas (LNG) Train7 has witnessed 60 per cent local content.
Executive Secretary, NCDMB, Mr Simbi Wabote, said this on Wednesday in Abuja while briefing newsmen on the forthcoming Oil and Gas Opportunity Fair, scheduled to take place in Bayelsa from May 17 to 19.
Wabote said unlike the LNG Train 1 to 6 which had near zero participation of Nigerians because of poor performance in energy technology, Train 7 had more Nigerians participating due to the development of local capacity and capability.
“I think the project is a total of about US$5 billion and 50 per cent of that is being handled in-country and by Nigerians,” he said.
Wabote said that the significant leap and growth happened because they provided many Nigerians with the opportunity to excel in oil and gas technology.
He said the local content participation being witnessed in the oil and gas technology was achieved mainly through the biannual Nigeria Oil and Gas Opportunity Fair (NOGOF), organised by the NCDMB.
“When we were looking at the strategy on how to develop Nigeria content, that is, the local capacity to provide services to the oil and gas industry, we went through a lot.
“There was so much that we needed to do in order to enhance the participation of Nigerians.
“So it was out of this request by stakeholders that we looked at it and said okay provide a platform where you will tell them of opportunities in the industry such that people can begin to prepare themselves.
“One of the greatest successes was that if you look at the Train LNG 1 to 6, the level of Nigerians participation was near zero because energy technology and the activities there were alien to us.
“Everything practically was done overseas but with the advent of NOGOF, today, 60 per cent of the activities in LNG 7 is being done by Nigerians.
“It is because we provided the prime information which enabled them to prepare themselves to participate in that project,” Wabote said.
According to him, the local content participation is a creation of the Act 2010 which mandates the NCDMB to support the development of local capacity and capability in Nigeria’s oil and gas industry.
He noted that the Act also mandated the board to foster institutional collaboration, maximise Nigerians’ participation in the oil and gas activities and link the sector to other sectors of the economy.
“We are also maximising the utilisation of Nigerian resources amongst other objectives.”
Wabote highlighted the importance of the oil and gas fair to the economy, noting that it was an opportunity to industrialise the country.
“Our goal is to use NOGOF as a platform to promote these objectives that drive growth and development across the Nigeria oil and gas value chain.
“We are excited to engage with stakeholders, foster the development of local content and strategise on the capacity building initiatives that will benefit the industry and the broader economy.
“This will be the fourth edition, the first and second editions were hosted in Akwa-Ibom and Bayelsa states respectively, while the third edition was hosted virtually due to the COVID-19 pandemic.
“Our theme this year is “The oil and gas industry, catalyst and fuel for industrialisation of Nigeria” and interested stakeholders can visit WWW.NCDMBNOGOF.org for information on how to get involved in any capacity.
“We believe the theme is important as it highlights the critical role of the oil and gas industry in tune with industrialisation and overall development of the Nigerian economy.
“We have also raised the bar at this year’s event by expanding our focus to include the linkage industries and extending our reach beyond Nigeria to the entire African continent,” he added.
The NCDMB boss noted that another objective of NOGOF2023, would be to bring together key stakeholders of the oil and gas industry to discuss ways to deepen local content.
This, he said, would be done by leveraging identified opportunities and identifying sonic ways to move the industry forward. #Local Content in LNG Train 7 Rises to 60%– NCDMB Naira Steadies as Banks Issue Update on FX Purchase