Skip to main content

Brass Island devt’ll force down oil production cost — FG

OPEC, OILBy Michael Eboh

The Nigerian Content Development and Monitoring Board, NCDMB, has stated that a number of investment opportunities in the oil and gas industry abound in Brass, which if developed, would help force down the cost of crude oil and gas production as stipulated by the Minister of State for Petroleum Resources, Chief Timipre Sylva.

Why we took Adoke into custody ― EFCC

The NCDMB also announced that it was considering building a modular refinery in Brass Island, in partnership with Waltersmith Petroman Oil Limited.

In a statement in Abuja, after the donation of a modular science laboratory and an Information and Communication Technology centre to two schools in Brass Local Government Area, Executive Secretary of the NCDMB, Mr Simbi Wabote, stated that the siting of a modular refinery in the island was part of a cocktail of investments the Board was considering for Brass.

According to him, the modular refinery would utilise feed stock from the Nigerian Agip Oil Company, which currently operates in the location.

Wabote described Brass Island as a strategic location for the petroleum industry, especially as it is the closest point from where one can access many of the Floating Production Storage and Offloading (FPSO) platforms that operate off the shores of Nigerian waters, including Bonga main.

He noted that some of the offshore oil and gas fields were currently being accessed from far locations like Lagos, with considerable cost implications.

He said, “Developing and utilising nearby locations like Brass Island for oil and gas logistics operations would help the industry meet the recent charge by the Minister of State for Petroleum Resources for players in the industry to ensure a significant reduction in the cost per barrel of Nigeria’s crude oil production.

Civil Society Organization wants Sylva sacked for IOCS debt claim

“Part of the strategy is to site logistics requirements where it is easy to access, reducing time, fuel consumption and improving turnaround maintenance time. A serious study is going on currently to see the things that would be possible on the Island of Brass in order bring down our cost of production.”

He listed other investments opportunities that were being considered by NCDMB for Brass Island to include siting a modular refinery in partnership with Waltersmith Petroleum Limited and utilising feed stock from the Nigerian Agip Oil Company, which operates in the location.

Vanguard

The post Brass Island devt’ll force down oil production cost — FG appeared first on Vanguard News.


https://ift.tt/2rMkRPq by Nwafor via Vanguard News Albert Einstein Fools of Fortune
Labels:

Comments

Post a Comment

Popular posts from this blog

How to jump-start Nigeria economy post-COVID-19 Pandemic

Nwali Tochukwu Watching with consternation the fall out of events, actions, and inactions of our Nigerian leaders on mitigating the negative impact of COVID-19 Pandemic disruptions on our social and economic lives. As a young dynamic business and entrepreneurship writer, and author cum small business owner, what came into my mind as we navigate the storms of COVID-19, was a common English phrase Adages, Proverbs, first recorded in Fuller’s Gnomologia, 1732: ‘A stitch in time saves nine’ which was translated to literally, solve the problems right now! Why procrastinating? If we, as a nation wants to break away from past mistakes, and present mistakes, we should hold the bull by the horn right now. And avoid the roads of political expediency. That is exactly what the stitch in time simply stood for. Promptly address issues posed by Coronavirus. By quickly sewing up of a small hole or tear in a piece of material, so saving the need for more stitching at a later date when the whole ha...
2 comments
Read more

Where is Aguleri Located?

Aguleri is a prominent town often associated with the mighty river called Omabala wgiyflows through it. It is home to a lot of great men and women of Anambra Stare - notably Willie Obiano. History had it that it was the cradle of Igbo people established by Eri, son of Had, son of Jacob (you got to read your Bible babe). Where is Aguleri located? It can be foueat the north eastern part of Nigeria. They share boundaries with Kano, Umueri, Anam and Nando httpss://twitter.com/share https://google.com https://www.alexa.com/siteinfo/google.com https://www.quantcast.com/google.com https://sharedcount.com/?url=https://google.com https://www.similarsites.com/site/google.com https://facebook.com https://www.alexa.com/siteinfo/facebook.com https://www.quantcast.com/facebook.com https://sharedcount.com/?url=https://facebook.com https://www.similarsites.com/site/facebook.com https://youtube.com https://www.alexa.com/siteinfo/youtube.com https://www.quantcast.com/youtube.com ...
Post a Comment
Read more

Forum of retired Heads of Service, Permanent Secretaries donate N500,000 to Edo COVID-19 fund

Urges residents to complement govt’s efforts to check spread The Edo Forum of Retired Heads of Service and Permanent Secretaries has donated N500,000 to boost the Edo State Government’s response to check the spread of coronavirus disease (COVID-19) in the state. Chairman of the forum, Mallam Ikhelowa Atalasa Hanson, who made the presentation at Government House, Benin City, said the donation will complement the state government’s effort in deploying resources to fight against the spread of the virus. Ikhelowa said as a body, the retired heads of service and permanent secretaries tasked themselves to support the state government’s unalloyed commitment to protecting Edo people. READ ALSO:  COVID-19: Edo records 60 new cases as govt calls for caution On his part, Vice Chairman of the forum, Sir Xerxes Usiobaifo urged residents in the state to comply with all regulations from Nigeria Centre for Disease Control (NCDC) and the state government, noting that COVID-19 is real. He ur...
Post a Comment
Read more