THE Federal Government and International Oil Companies, IOCs, plan to take Final Investment Decision, FID, on three projects – ExxonMobil’s Ibot, Total’s Ikike and NLNG Train 7 – before the end of 2019.
According to Wabote, these would create opportunities for indigenous and other investors in Nigeria, and will present 80 business opportunities worth $100 billion for operators.He said the projects were contained in the Compendium of Nigerian Content Opportunities in the Oil and Gas Industry launched at the event.
Also speaking, the Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, said the development of the opportunities would require the contributions of various entities, including the Department of Petroleum Resources for approvals, Nigerian National Petroleum Corporation for negotiations and the oil companies, which would take FIDs, among others.
“We would have some agreements with them to stop the sabotage. We can work with NCDMB to put in a bit of funding. Then we put in technical know-how, business structure around it and have a major shareholder who is an entrepreneur. That way the locals get to participate, get jobs, polish their skills sets, crude is paid for and not stolen and the environment is better dealt with.”