FG Promises Breakthroughs In Oil And Gas Sector In 2021

The Minister of State for Petroleum Resources, Timipre Sylva has assured that the country will record more outstanding results in the oil and gas sector in 2021.

The minister who stated this in a statement issued by the Nigerian Content Development and Monitoring Board (NCDMB) on Thursday opined that the industry performed creditably in 2020 with various milestone projects.

According to the statement, Sylva was said to have spoken at a review meeting with the Permanent Secretary, Directors and chief executives of agencies in the Ministry of Petroleum Resources, in Bayelsa State.

He identified some key achievements of the Nigeria petroleum industry to include signing of the Final Investment Decision for Nigerian Liquefied Natural Gas, NLNG, Train 7 project, the commencement of the Ajaokuta-Kaduna-Kano, AKK, pipeline project, championed by the Nigerian National Petroleum Corporation, NNPC, and implementation of the deregulation of the downstream sector of the petroleum industry, amongst others.

“Other notable accomplishments included the completion and commissioning of the 17-storey headquarters building of the NCDMB and commissioning of the Waltersmith modular refinery, developed with 30 per cent equity from the NCDMB,” he said.

He attributed the various successes recorded in 2020 to collaboration among various Federal Government agencies in the sector.

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He applauded the performance of the petroleum ministry and its agencies over the past 12 months, stating that they delivered creditably on their respective mandates, despite the challenges posed by the COVID-19 pandemic.

On his part, the Executive Secretary, NCDMB, Engineer Simbi Kesiye Wabote commended Sylva for instituting a review meeting for all agencies under the ministry, where they would also plan for the future of the sector.

He noted that the NCDMB was catalysing local manufacturing of 1.2 million composite LPG cylinders per annum in Bayelsa and Lagos State.

He said: “The board is also supporting flare-out projects through Duport Midstream Company’s 300 million standard cubic feet per day (MMscfd) gas gathering hub in Edo and NEDO 110MMscfd gas processing project in Delta State.

“The Board is also supporting the establishment of LPG storage/filling plants in five states and as well as LPG distribution depots in six states.”