NCDMB Pledges Expedited Approvals to Boost Oil and Gas Projects
February 4, 2024: The Nigerian Content Development and Monitoring Board (NCDMB) has affirmed its commitment to streamline the approval processes for documents submitted by oil and gas companies. The primary objective is to expedite the development of oil and gas projects, contributing to increased oil production and fostering economic growth.
Engr. Felix Omatsola Ogbe, the Executive Secretary of NCDMB, reassured stakeholders of the board’s dedication during a meeting at the Nigerian Content Tower in Yenagoa, Bayelsa State. Chevron Nigeria Limited officials, led by Deputy Managing Director Mr. Cosmas Iwueze, were in attendance.
Ogbe expressed the Board’s commitment to enhance the timelines outlined in the Service Level Agreement (SLA) involving NCDMB, Nigerian National Petroleum Company Ltd. (NNPC Ltd.), and international oil companies. Proposing the establishment of technical working groups (TWGs) between NCDMB and oil firms, he suggested regular meetings to preemptively address concerns, fostering quick resolutions and approvals.
Highlighting the importance of compliance with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, Ogbe assured swift responses to urgent requests from companies to avoid delays and mitigate potential cost overruns. He urged companies to view NCDMB as partners, aiming to create a conducive environment, minimise conflicts, and attract investments.
Emphasising a collaborative approach, Ogbe stressed NCDMB’s intent to support oil companies in achieving their operational goals. He advocated flexibility, dialogue, and a win-win mindset over sanctions, seeking progress and efficiency in the industry.
Isaac Yalah, the Director of Planning Research and Statistics at NCDMB, acknowledged Chevron Nigeria’s support for the development of the Nigerian Content Research Centre of Excellence at the Federal University of Technology Akure (FUTA). Yalah affirmed continued collaboration with Chevron on various projects.
In response, Chevron Nigeria’s Deputy Managing Director, Mr. Cosmos Iwunze, commended the Executive Secretary’s collaborative approach and commitment to increasing crude oil production in Nigeria. He emphasised the need for a competitive business environment to attract global investments, underscoring Nigeria’s position as an investor-friendly destination.
Iwunze confirmed that Chevron Nigeria is actively working on major projects, including deepwater and Escravos gas-to-liquids (EGTL). He expressed anticipation for NCDMB’s support and collaboration in the forthcoming consideration and approval processes for these projects.
