New Telegraph

NCDMB: 50% of $12bn Train 7 project to be executed locally

The Nigerian Content Development and Monitoring Board (NCDMB) has declared that 50 per cent of Train 7 gas project will be executed locally.

 

The full value network of the Train 7 project is nearly $12 billion, which includes the net cost of the project, estimated at $4-$5 billion and an identical expenditure to be incurred on the company’s operational base in Bonny.

 

The Executive Secretary of NCDMB, Simbi Kesiye Wabote, an engineer, who said this while revealing that the 2021 edition of the Nigerian Oil and Gas Opportunity Fair (NOGOF) would be held virtually in Lagos, added that the board decided on the virtual option in compliance with Federal Government’s guidelines on curtailing COVID-19, as well as the subsisting travel restrictions in some countries. While admitting that hosting the conference virtually was new for the board and other stakeholders, Wabote expressed excitement that it offered opportunity for participants to join from anywhere in the world without incurring logistics costs, thereby recording increased participation.

 

The executive secretary explained that the core objective of organising NOGOF is to showcase the opportunities that are likely to emerge from the short to medium term plans and activities of operators and project promoters operating in the upstream, midstream and downstream sectors of the Nigerian oil and gas industry.

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