By
PR
The Nigerian
Content Development and Monitoring Board (NCDMB) on Monday received a cheque of
$1 million from Nedogas Development Company Limited (NDCL), being part of the
return on investment (ROI) on one of the Board’s strategic investments.
The cheque
was presented by the Chairman of the company, Engr. Emeka Ene when he visited
the Nigerian Content Tower in Yenagoa Bayelsa State, where he was received by
the Executive Secretary, Engr. Felix Omatsola Ogbe and other members of the Board’s
management.
Nedogas
Development Company Limited (NDCL) is a joint venture company between Xenergi
Limited and NCDMB Capacity Development Intervention Company.
As part of
the project, Nedogas Development Company Limited (NDCL) constructed and
commissioned a 300 MMscfd Capacity Kwale Gas Gathering (KGG) and injection
facility located in the Umusam Community, near Kwale in Delta State, Niger
Delta, Nigeria.
The KGG
Facility was designed to handle stranded gas resources in Nigeria’s OML56 oil
province by providing the opportunity for independent operators in the area to
monetize natural gas from their fields through the gas gathering, compression,
injection and metering infrastructure of the KGG for quick market access.
Nedogas is
one of the several strategic and successful investments of the NCDMB funded
from the Nigerian Content Development Fund (NCDF), in line with the Board’s
mandate to build capacity and catalyze local projects in the Nigerian oil and
gas industry as enshrined under the Nigeran Oil and Gas Industry Content
Development (NOGICD) Act.
In his
comments, the NCDMB boss stated that the success story of NEDOGAS at Kwale,
Delta State could be replicated in other oil- and gas-producing communities to
minimise gas flaring. He declared the Board’s readiness to continue
collaborating with the company. “Their model should be extended to other parts
of the country where gas flaring is continuing. They have shown that with the
modular system, we can quickly remove flaring from our operations in Nigeria.”
He
confirmed that NCDMB had continued to receive briefings from its investment
partners, adding that “we are still waiting for them to come back with success
stories. Some of them are near completion and have not started operations yet.”
Chairman of
NEDOGAS, Mr. Emeka Ene conveyed the company’s excitement in returning part of
the credit and profit, adding that this “proves that NCDMB’s investment was a
success and they are getting back that investment.” He added that “we look
forward to further collaboration with the NCDMB to expand the scope,” adding
that “NCDMB is now doing effectively and practically and tangibly what it was
set up to, which is to impact the economy by direct interventions. That is the
way the economy can grow, improve the gas infrastructure in such a way that is
sustainable despite the tight economic conditions.”
The value
propositions of the Nedogas project include total eradication of flared gas and
conversation of environmental pollutants into products of value and creation of
a strategic gas gathering hub and injection node for quick access to market for
gas owners to monetize gas. Other benefits include the provision of alternative
gas supply to western flank of the OB3 line to add to the volumes of economic
sustainability and increase in Nigeria’s Gross Domestic Product (GDP), among
other reasons.
The
partnership with NEDOGAS is one of NCDMB’s 15 strategic investments geared
towards actualizing the Federal Government’s aspirations in key areas of the
oil and gas industry. Most of the projects were targeted at actualizing the
Federal Government Decade of Gas programme.
Some of
NCDMB’s notable third-party investments include Waltermith’s 5000 barrels per
day (bpd) modular refinery in Imo State, Azikel Group12,000 bpd hydro-skimming
modular refinery in Gbarain, Bayelsa State and Duport Midstream’s 2,500bpd
modular refinery in Edo State.
Other
investments include Better Gas Energy for LPG terminal and gas distribution,
partnership with Rungas Prime Industries Limited to establish a cooking gas
cylinders manufacturing plant in Polaku, Bayelsa State and Alaro City in Lagos
and the partnership with Butane Energy to deepen LPG utilization in the North.
There was
also the partnership with BUNORR Integrated Energy Limited in Port Harcourt,
Rivers State to produce 48,000 litres of base oil per day and partnership with
the Nigerian National Petroleum Corporation (NNPC) Limited, Brass Fertilizer
and Petrochemical Company Limited and DSV Engineering to establish a 10,000 Ton
Methanol Production Plant, Odioama, Brass, Bayelsa State.