NCDMB to crash oil production cost with Bayelsa logistics base

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As part of efforts to reduce the country’s oil production cost, the Nigerian Content Development and Monitoring Board (NCDMB) has announced plans to facilitate the establishment of an oil and gas logistics base in Brass, Bayelsa State.

Executive Secretary of NCDMB, Mr.Simbi Wabote, made the disclosure during the inauguration of a modular science laboratory to Model Government Secondary School, Twon Brass and an Information Communication Technology(ICT) Centre to Government Secondary School Okpoama, both in Brass Local Government Area of Bayelsa State donated by the Board.

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 stated that developing and utilizing 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.

Speaking on oil and gas investment opportunities that could be developed on the Brass Island, the Executive Secretary described the island as a strategic location, stating that 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.

“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 to bring down our cost of production.”

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

“It is also a veritable location for even a dry dock facility or a floating dock facility. NCDMB is currently studying a strategy for establishing and enhancing all the existing drydock facilities to maintain our ships, light crafts and also expand our integration base in the country.”

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