Nigeria Targets 100 Percent Capacity In Oil Vessels Production By 2027

Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB); Engr. Simbi Kesiye Wabote has said that the Nigerian oil and gas industry will between now and 2027 aspire to domesticate the full capacity and capability required for the integration of Floating Production Storage and Off-loading vessels (FPSO).He gave the target at the public hearing conducted by the Joint Senate Committee on Petroleum Upstream and Gas in Abuja last week.The hearing was organized to determine the extent of compliance with the Nigerian Content Act and utilization of the Nigerian Content Development Fund (NCDF).FPSO is the biggest component of deep-water oil and gas project and the fabrication and integration of the modules at any location spurs multi-dimensional development and creates thousands of jobs.According to an NCDMB statement, the new target for the industry follows from the successful in-country fabrication of six modules of the Total Egina FPSO and scheduled integration of the modules on the FPSO at the SHI-MCI yard in Lagos in September 2017, the first time these feats would ever happen in Nigeria.Another major target of the board, according to the Executive Secretary, is to establish a Local Content Bank of Nigeria "to focus on establishment of facilities for domiciliation of services with emphasis on optimal use of local resource input."He stated that 36 per cent of the marine vessels operating in the Nigerian Oil and Gas Industry were now owned by indigenous players, a marked improvement from total foreign domination of the industry before the implementation of the act.