Financial Energy Review
by Musa Ibrahim……….
The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote has called on the lead contractors of Train 7– Saipem, Chiyoda and Daewoo (SCD) joint venture to ensure that Engineering, Procurement and Construction (EPC) components of the project added significant value to the nation’s quest for local content development.
“We must push the boundaries so that upon completion we can brag about the values that the project would have added to the oil and gas industry as well as the country at large.” he said.
Speaking at a virtual meeting between NCDMB and NLNG to clarify some technical details relating to the Nigerian content components of Train 7, Wabote charged the contractors to set Nigerian content records during the project implementation phase.
Describing the NLNG Train-7 project as a record-breaking, Wabote said the journey had been marked with many firsts, particularly in methodology, stakeholders’ awareness and participation, and speed of completion of the regulatory approvals by the board.
In his opening remarks, the Managing Director, NLNG, Engr. Tony Attah described the contract award and execution of Train 7 as a clear demonstration of the commitment of NLNG and its shareholders to continued investment in the Nigerian oil and gas sector with the attendant creation of capacity, competency and value.
“The parties have agreed mechanisms that will facilitate a ramp up and pivot into the full scope of work as soon as clearly defined indices are achieved at which point the more traditional expectations of the project execute phase will come into play with full mobilization of the contractor to site.” Attah said
He confirmed that Nigerian Content is one of the key value drivers for Train 7 as it will create jobs, deepen competency and capacity, unlock opportunities in the oil and gas industry and hopefully open the door for further expansion activities with the possibility of further LNG trains and projects.
He assured that NLNG will collaborate with the Contractors and the Board to deliver the agreed Nigerian Content, within budget, on schedule, in accordance with the highest standards of ethics and compliance, and a strong focus on HSE.
Meanwhile, the Managing Director of Saipem, Mr. Walter Peviani applauded NCDMB and NLNG for the extensive work they did with the Nigerian Content Plan.
He explained that the NCP created a clear path for the bidders with regard to Nigerian Content requirements and enabled them to structure their bids properly.
He described the implementation models adopted by the NCDMB to be very effective, and agreed that this model would lead to lower cost of project execution and compliance with the project plan.
