FG launches ‘Project 100’ to support local oil, gas service firms

The Ministry of Petroleum Resources in conjunction with the Nigerian Content Development and Monitoring Board (NCDMB) on Thursday launched Project100 to provide institutional and financial support to 100 Indigenous oil and gas service companies.

The project targets indigenous companies offering seismic, marine, engineering and drilling services and will provide financial and non-financial as well as technical support and access to market for the beneficiary companies.

Minister of State for Petroleum Resources Dr. Ibe Kachikwu who performed the official launch said he initiated the Project 100 as an oil and gas industry intervention to identify, recognize and nurture wholly owned indigenous Nigerian oil and gas service companies into large scale players that will create high impact in the economy.

He said the process of selecting the beneficiary companies was very clean and transparent.

The NCDMB which is the lead agency tasked to implement the project said world renowned consultant KPMG conducted the selection process.

Executive Secretary of the NCDMB Engr. Simbi Wabote said a lot of evaluation criteria were used to trim the number of companies who applied adding that 60 companies were chosen among thousands of service companies who applied.

Some of the beneficiary companies include Anzor Nigeria Ltd, B2 Oil and Gas Project Ltd, Energeria Ltd, Gemstone Energy Services Ltd, Jite Projekts Ltd and Mafuta Energy Services Ltd.

The NCDMB and the Bank of Industry (BOI) had in 2017 launched a $200 million Intervention Fund for Nigerian companies involved in manufacturing in the oil and gas industry.

Wabote said, however, the Board was finalizing another financing model. “Within the next couple of months we will launch another financing scheme perhaps without all the bottlenecks that we see today with the BOI and these selected companies will be our focus areas and beneficiaries,” he said.

6 Responses to “FG launches ‘Project 100’ to support local oil, gas service firms”

  1. Okoro Tony

    encouraging these beneficiaries companies to patronize indigenous small firms in their operations. e.g. Heritage Energy Services Ltd, inspite of all appeals withhold patronage of some indigenous companies, for example, Tonyko Global Services Ltd,

    while attempts to be registered in Energgeria Ltd, that is operating in Emu-Ebendo, via Kwale, Delta State, has been posing a lot of hindrances.

    kindly intervene and you may forward or recomend us for patronage by these companies in the area of facility security and house keeping contracts.

    Okoro A.A.

    Reply
  2. Oni osaigbovo kelvin

    Goodday sir/ma. Am a graduate from university of Benin. Studied electrical engineering; currently doing my masters programme too at same Uniben . Came out with 2:2. Please sir/ma. I’ll be grateful if I can be given a job. Thanks in anticipation. My phone number 08039203601.

    Reply
  3. slnl

    Its a good one in the right direction. Kudos to the TEAM initiative. And we all here with intended beneficiary urge all parties involved to make it achievable venture as regards oil and gas sector.

    Reply
  4. Mbea dumadi

    This a welcome development I’m happy for this and i think this will be of help to us the Nigerians mostly for those in the labor market and people like me, which we are still serving our father land and we are counting days to be in the labor market, I will love to part of this program as a beneficiary, God bless Nigeria and FG.

    Mbea dumadi is my name
    08035418549

    Reply
  5. Mbea dumadi

    This a welcome development for Nigerians mostly for those in the labor market and for people like me that we are still serving our father land and we are counting days to be in labor market I hope my brothers the Nigerians and I will benefit from this program God bless Nigeria and FG.

    Reply
  6. AGBOGHOROMA ALBERT

    DEAR SIR
    I AM A GRADUATE OF PETROLEUM TRAINING INSTITUTE EFFURUN DELTA, OVER THE YEARS AFTER MY STUDY IN MY SCHOOL WHERE I STUDIED PETROLEUM AND NATURAL GAS PROCESSING ENGINEERING TECHNOLOGY, I HAVE CREATED SOLUTIONS WHICH HELP US SOLVE PROBLE IN REVERVOIR AND PETROLEUM PRODUCTION MANAGEMENT, REFINERY OPERATION AND MANAGEMENT. WE HAVE A REGISTERD COMPANY TO RENDER SERVICE COULD YOU PLEASE INITIATE A POLICY THAT WILL CREAT ENABLING ENVIROMENT TO UTILISE OUR LOCAL TECHNOLOGY IN OUR OIL AND GAS INDUSTRIES. CEO/MD OFFSHORETECH GLOBAL ENGINEERING LTD, THANK

    Reply

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