Oil, gas park project for completion Q4 2022, says FG

• FG to complete oil, gas park by 2022 Q4

The Federal Government (FG), on Wednesday, said the Nigerian Oil and Gas Park located at Emeyal 1, Bayelsa State would be completed in 2022 4th quarter.

The park, being developed by the Nigerian Content Development and Monitoring Board (NCDMB), is expected to create a low-cost manufacturing hub that will produce equipment components and spare parts to be utilised in the nation’s oil and gas industry.

Speaking after inspecting construction work at the project site in company with senior management of the Board, Executive Secretary NCDMB, Engr Simbi Wabote, hinted that the assessment visit was a prelude to the planned tour by the Minister of State for Petroleum Resources, Timipre Sylva to the Board’s major projects.

These include the oil and gas park projects at Emeyal1, Odukpani in Cross River State, and the Composite Gas Cylinder Manufacturing facility at Polaku.

He said the project which was flagged-off on April 27, 2018, is at 68 per cent completion, with four major structures nearly completed.

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“We did the groundbreaking ceremony in 2018 and we were practically inside the water; but today, we are seeing structures coming up. We still have a long way to go because most of the buildings are getting to the finishing stages while some are just starting. We believe that we will complete this project by Q4, 2022.”

While explaining the benefit of the park scheme to the nation’s economy, Wabote said the facility would stimulate the manufacturing of oil and gas components in-country and reverse the current trend where the sector depends on importation for most of its finished products.

“It will also enhance our capacity and bring about technological innovations because most of those manufacturing will be done here. For the community, it will create a lot of jobs and there will be a spin-off effect on other economic activities. The benefits are enormous,” he added.

He also assured that the shortage of electricity would not affect companies that would set up in the park.

He said: “We have been able to conquer the challenge of electricity at this site. We have built a 10megawatts gas plant to guarantee power to the site.”

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Oil, gas park project for completion Q4 2022, says FG

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