{"id":337567,"date":"2024-08-21T00:53:21","date_gmt":"2024-08-20T23:53:21","guid":{"rendered":"https:\/\/www.thetidenewsonline.com\/?p=337567"},"modified":"2024-08-20T23:54:11","modified_gmt":"2024-08-20T22:54:11","slug":"ncdmb-targets-70-local-content-in-petroleum-sector","status":"publish","type":"post","link":"https:\/\/www.thetidenewsonline.com\/2024\/08\/21\/ncdmb-targets-70-local-content-in-petroleum-sector\/","title":{"rendered":"NCDMB Targets 70% Local Content In Petroleum Sector\u00a0"},"content":{"rendered":"<div><\/div>\n<div><\/div>\n<div>Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Felix Ogbe, has said the Board is targeting 70 per cent Nigerian content in the oil and gas sector by 2027.<\/div>\n<div><\/div>\n<div>The NCDMB boss, who stated this on Tuesday when he visited the facilities of BEAMCO Nigeria Limited in Lagos, commended the oil and gas service firm for its strides in manufacturing equipment components.<\/div>\n<div><\/div>\n<div>He lauded the Nigeria Liquefied Natural Gas Limited, Saipem-Daewoo Joint Venture, and BEAMCO Limited for enhanced in-country value addition.<\/div>\n<div><\/div>\n<div>Ogbe disclosed that locally assembled pumps and valves were set for installation and pre-inauguration preparations on the multibillion-dollar NLNG Train-7 project on Bonny Island, Rivers State.<\/div>\n<div><\/div>\n<div>Speaking at the load-out ceremony at BEAMCO\u2019s facility in Apapa, Lagos, the NCDMB boss noted that the feat of sourcing such vital components in-country was made possible by the Equipment Component Manufacturing Initiative launched by the NCDMB in 2013.<\/div>\n<div><\/div>\n<div>He said the initiative necessitated the issuance of the Nigerian Content Equipment Certificate as a requirement for participation in equipment supply in the oil and gas industry.<\/div>\n<div><\/div>\n<div>According to him, the implementation ensured that NLNG, through its main contractor, Saipem-Daewoo, awarded a contract to BEAMCO for the supply of 17 American Petroleum Institute pumps and 19 control valves in line with NCDMB\u2019s approved vendor list for the NLNG Train-7 project.<\/div>\n<div><\/div>\n<div>He said Nigeria is proud that BEAMCO will be delivering quality pumps and valves on schedule, saying, \u201cThis is a demonstration that the Nigerian business environment provides all the enablers to support manufacturing and assembly&#8221;.<\/div>\n<div><\/div>\n<div>Ogbe further said the achievements of the company affirmed the position of the recent Presidential Directives on Local Content implementation, which mandates that oil and gas contractors should only be awarded to local companies with established and proven capabilities in-country.<\/div>\n<div><\/div>\n<div>He promised that NCDMB would continue to support BEAMCO to further expand its capabilities to include backward integration in pump and valve components manufacturing in Nigeria.<\/div>\n<div><\/div>\n<div>He also assured purpose-driven companies in the oil and gas subsector, saying, \u201cTogether we will achieve more of similar milestones in the industry, as part of our collective commitment to achieve 70 per cent Nigerian Content by 2027&#8243;.<\/div>\n<div><\/div>\n<div>Other components and accessories sent forth at the event were four pumps (2 Reflux pumps and 2 Amine booster pumps) and five valves (two Mark 100 valves; one Mark One valve and two flowtop valves).<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Felix Ogbe, has said the Board is targeting 70 per cent Nigerian content in the oil and gas sector by 2027. The NCDMB boss, who stated this on Tuesday when he visited the facilities of BEAMCO Nigeria Limited in Lagos, commended the oil and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[7],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NCDMB Targets 70% Local Content In Petroleum Sector\u00a0 - :::...The Tide News Online:::...<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.thetidenewsonline.com\/2024\/08\/21\/ncdmb-targets-70-local-content-in-petroleum-sector\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NCDMB Targets 70% Local Content In Petroleum Sector\u00a0 - :::...The Tide News Online:::...\" \/>\n<meta property=\"og:description\" content=\"Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Felix Ogbe, has said the Board is targeting 70 per cent Nigerian content in the oil and gas sector by 2027. 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