Sen. Adeola Assures AGIP Of Senate's Commitment To $13.5bn Oil Project - THE DAILY CRUCIBLE

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Tuesday, April 9, 2019

Sen. Adeola Assures AGIP Of Senate's Commitment To $13.5bn Oil Project

Senator Solomon Olamilekan Adeola on Tuesday assured 
 Nigerian Agip Oil Company (NOAC) and other stakeholders of the Senate's support and commitment for the commencement of the $13.5 Billion offshore Zabazaba crude oil production project that is awaiting Final Investment Decision. 

Adeola said  the commitment of the Senate is predicated on the fact that the project will be the first involving the Nigerian Content Development and Monitoring Board(NCDMB) and NAOC since the coming  of the Local Content Act of 2010, stressing that it will ensure increased Nigerian participation in the oil and gas sector. 

The All Progressives Congress(APC) Senator representing Lagos West, gave the assurance at NOAC/Oando and NNPC organized Research and Development Forum/Exhibition on Emerging Technology.

The theme of the forum reads: “Research and Development-Emerging Technologies in the Nigerian Oil and Gas Industry."

Senator Adeola  who is the Senate Committee Chairman on Local Content, commended NAOC for turning out yet another set of highly skilled subsea engineers for deep sea projects like Zabazaba.

He explained that as representatives of the people of Nigeria, it is the role of the National Assembly to ensure that Nigerians benefit directly in the production and processes in crude oil exploration and exploitation. 

“The National Assembly is very much interested in the project as it will go a long way in actualizing the participation of Nigerians in this critical sector of our economy in terms of personnel, training and of course increase in our crude oil production.”he stated. 


“The goal of Local Content is not to drive away foreign investors but to have Nigerians participate in the production process with a view to mastering some aspects of these processes in due course. The industry have since achieved 28% of Local Content and the goal is that by 2027,it would have achieved 70%” he stated. 

Earlier on, Mr. Lorenzo Fiorillo, the Vice Chairman and Managing Director of NAOC said the company is committed to promote value addition in Nigerian Economy by deliberately utilizing Nigeria human resources and materials and services in its gas and oil activities in compliance with Local Content Act adding that the exhibition programme is geared towards showcasing research and development in emerging technology towards growing Nigerian Content in the Oil and Gas Industry. 

Other participants at the exhibition includes Mr. Bello Rabiu, the Chief Operating Officer (COO) NNPC (Upstream), Mr. Bambo Ibidapo-Obe, the General Manager Oando and Engineer Simbi Wabote, the Executive Secretary of NCDMB, according to a statement by Chief Kayode Odunaro, Media Adviser to Senator Adeola.

Jane Okafor, Abuja



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