NCDMB gives condition to oil servicing companies

As Nigerian companies are making efforts to take advantage of the opportunities provided by the currents drive of the Nigerian Content and Development Monitoring Board, NCDMB, the agency has reiterated its commitment to ensure that local content in the oil and gas industry is increased considerable in the industry.

On account of this, it has said it would only retain operational vessels, especially those used for logistics that are100 per cent wholly owned by indigenous companies on its platform .This step has become necessary especially now that the board is doing what it is called  vessel re – identification exercise.

Simbi Wabote, executive secretary, NCDMB’s, disclosed  this  at the renaming ceremony of the NigerStar 7 $10 million Adaba vessel held at Nigerdock, Snake Island, Lagos. He said the move was necessary especially now that the emphasis is to encourage indigenous companies to be actively involved in areas where they can easily key-in into the local content programme.

The agency boss who expressed  delight that the  vessel being renamed  is one hundred percent owned by NigerStar7 and Nigeria, stating that the occasion was  very important  because NCDMB is undergoing vessel re-identification process.

“We must commend NigerStar 7 for its renewed commitment to local content practice and the noticeable repositioning it has undertaken to project the value proposition it offers as an oil and gas service provider of high repute,”he said.

He called on other companies to emulate the example of the company in terms of making visible investment in the Nigerian economy.

In accordance with NigerStar 7’s commitment to the Nigerian Oil and Gas Industry Content Development Act of 2010, majority of the personnel on NigerStar 7 Adaba, including its Captain are Nigerians. The crew have a robust understanding of the peculiarities of the Nigerian environment, he said.

He revealed that another vessel solely funded by the Bank of Industry BoI through the  local content fund will be commissioned in Port Harcourt in two weeks’ time, and therefore encouraged investors to delve into the Nigerian oil and gas sector without fear, assuring that there are “abundant opportunities and laws” to protect them.

The NCDMB boss stressed the need for industry players to partner and cooperate among themselves to develop local content in the industry and grow investors’ confidence in the economy.

He commended the business model of NigerStar 7, which is a partnership between Nigerdock and Subsea7, noting that it has helped the group build a formidable presence in engineering, fabrication, installation, and project management.

He charged other service providers to build bridges especially now that the industry was rebounding from a period of downturn.

“We see rays of light in the sanctioning of big-ticket projects. There is need to collaborate more and build partnerships that last. The opportunities in the industry are quite vast and there is room for a win-win situation for all,” he said.

The vessel is the most powerful Nigerian flagged DP2 Anchor Handler (140mT bollard pull) owned by a Nigerian company and operating in Nigerian waters. It has a 52-passenger-on-board accommodation capacity, 460m² deck space, and an Electronic Fuel Monitoring System. It is the first of its kind to explore Nigerian waters and has been hailed as a major complement to the local content policy of the federal government

Yann Cottart, chief executive Officer, NigerStar 7 while speaking at the occasion said: “our mission is to serve Nigeria’s offshore oil and gas industry by executing the largest and most complex EPIC deep-water projects, and today with this new addition to our fleet, we are closer to our goal as we become the only Nigerian Tier 1 EPCI contractor with a number of modern assets 100% owned and positioned in the country.”

He said acquisition of the vessel will henceforth put the company to the fore as “a contractor of choice” to investors and stakeholders in Nigeria.

“With this investment, NigerStar7 is not bringing only possibilities into the oil and gas sector but creating job opportunities,” he said

While giving his welcome address at the occasion, Gbade Durotoye, chief executive officer Nigerdock, expressed the company’s delight in partnering with NigerStar 7, adding that the vessel will be of great benefit to the Nigerian oil and gas sector.

“As we celebrate an additional vessel into the oil and gas sector, let us focus on possibilities through this partnership,” he added.