Wabote tasks Benkline on expansion into Downstream Sector

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote has advised the management of Benkline Nigeria Limited to expand the company’s operations to the downstream subsector of the oil and gas industry and manufacture components for the modular refineries planned by various investors.

The Executive Secretary gave the advice in Port Harcourt, Rivers State on Monday when he led top management of the Board and representatives of international and indigenous operating companies on a facility visit to the company.

He asserted that Benkline had the capacity to manufacture pumps for modular refineries and charged it to provide specialists services to the oil and gas industry as obtained in other oil producing countries. The Executive Secretary applauded the company’s capacity to manufacture and maintain mechanical components used in the oil and gas industry and assured the management of the Board’s support for its growth plans. He also praised ExxonMobil, Total Exploration & Production and Nigerian Agip Oil Company (NAOC) for patronizing Benkline and giving it a seal of competence and capability which would encourage indigenous producing companies like Aiteo and Eroton to also support the firm.

On the Benkline’s request to access the Nigerian Content Intervention Fund (NCI Fund) to grow its capacity, Wabote stated that the Fund could be accessed by all qualified companies. He explained that four product lines were tailored to support manufacturing, contract financing, loan refinancing and asset acquisition and they attract eight percent interest rate repayable over five years. He added that community contractors could also access Twenty Million Naira repayable with five percent interest over five years. The Executive Secretary also confirmed that the Service Level Agreement signed with the Bank of Industry (BoI) mandated BOI to complete the processing of loan applications within a 45-day period.

In his welcome remarks, the Chairman of Benkline, Mr. Terry Ossai enumerated the company’s core services to include pumps and rotating equipment services as well as mechanical and repairs maintenance. The Managing Director, Mr. John Onwoh also appealed to the international operating companies and Engineering Procurement and Construction companies to patronise the company.

IOCs representatives on the visit included the General Manager, Nigerian Content Development, Shell Petroleum Development Company (SPDC), Engr. Olanrewaju Olawuji; Manager, Nigerian Content, NAOC, Mr. Albert Ijuwe; General Manager, Nigerian Content Development Total E&P, Barr. Uche Okeke; the Managing Director, Eroton, Mr. Ebiaho Emafa and the Nigerian Content Coordinator, Aiteo, Mr. Joseph Nwatu.