OPTS visits Exec Sec, pledges support

Oil Producers Trade Section (OPTS)- the umbrella body of major international and indigenous operating oil companies has pledged to support the Nigerian Content Development and Monitoring (NCDMB) in the implementation of its initiatives geared to deepen Nigerian Content Act in the oil and gas industry.

Members of the OPTS affirmed their support recently when they paid a courtesy visit to the Executive Secretary, NCDMB, Engr. Simbi Wabote at the Board’s headquarters in Yenagoa, Bayelsa State

Chairman of OPTS and Managing Director, Shell Petroleum Development Company (SPDC), Mr. Osagie Okunbor, in his speech, congratulated Wabote for his appointment and the feats he had recorded within a short period in office.

In his words, “we appreciate the collaborative approach engaged by the Board, particularly in the reconstitution of the NCDMB/NIMASA committee and organization of the Nigerian Oil and Gas Opportunities Fair. This is a clear demonstration that the Board is back on the track of progress.” 

In their comments, the Managing Director of Chevron, Mr. Paul McGrath and Chief Executive Officer of Nigerian Agip Oil Company (NOAC), Mr. Massimo Insulla commended the collaborative approach adopted by the Board in its relationship with their companies.

Responding, Wabote promised the Board’s readiness to partner with operating companies to resolve challenges they might have executing their projects, reiterating that NCDMB had adopted a 100 days target for completing its aspects of the contracting processes in compliance with the 6-months contracting cycle target set by the Minister of Petroleum Resources, Dr. Emmanuel Ibe Kachikwu.

He announced that the Board would work with the OPTS to develop a common reporting template on Nigerian Content, charging the oil industry bosses to strengthen the Nigerian Content Division in their establishments and make the head a top management position.

Wabote also asked the CEOs to promote joint industry capacity development programmes, including exchange programmes that will include Board’s staff.

On the Nigerian Content Development Fund (NCDF) the Executive Secretary requested the companies to furnish the Board with evidence of their remittances, noting that it would carry out forensic audit andcompanies found to have defaulted will be asked to pay.