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Nairaland Forum / Nairaland / General / Business / Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project (9714 Views)
Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria / Tiamin Rice Invests $13.4m To Produce 1,520 Tonnes Daily / MTN Admits Moving Out $13.9 Billion Out Of Nigeria Illegally (2) (3) (4)
Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by Inception(m): 9:40am On Apr 03, 2017 |
Talk of Good news for the Oil & Gas Industry! News | Nigeria Nigeria set to boost oil production as Agip begins $13.5b project By Collins Olayinka, Abuja | 03 April 2017 | 5:37 am • Nigerians need three million cooking gas cylinders yearly, says NCDMB Nigeria is set to boost her daily production of crude oil as the Nigerian Agip Exploration Limited (NAE) begins work on Zabazaba deep water project that is expected to gulp $13.5 billion. The oil giant will begin to receive commercial proposals for the project this month (April). The request for commercial tenders from bidders followed the finalisation of the technical evaluation for the main packages of the project by the Nigerian Content Development and Monitoring Board (NCDMB) and NAE, with the aim to maximize local content. The packages included the Floating, Production, Storage and Offloading (FPSO) units, subsea, installation and rigs. The Executive Secretary of Nigerian Content Development Monitoring Board (NCDMB), Simbi Wabote, explained that the board fast tracked its evaluations and approvals on the Zabazaba project to increasing Nigeria’s crude oil production and creating opportunities for the growth and development of Nigerian content. To bring the project to fruition, Wabote admonished contractors to submit reasonable commercial bids, bearing in mind the prevailing price of crude oil and the fact that Zabazaba is the only major project that has reached execution stage at the moment. The deep-water project was introduced a few years ago, but later suspended after cost projections and other push backs made it unviable. The Vice Chairman of NAE, Mr. Massimo Insulla underscored the importance of Zabazaba project to Nigeria, all Joint Venture (JV) partners and stakeholders in terms of revenue for the government and job creation. It will also grow small and medium enterprises, expand existing facilities and develop the skills set of the work force. The project is expected to develop oil and gas reserves in the range of 560 million barrels of oil equivalent. According to NAE’s project plans, the Zabazaba field will be developed initially. The Etan field will follow three years later and tied back to the Zabazaba FPSO from where the produced hydrocarbons will be processed and exported. Wabote also said that Nigerians need three million liquefied petroleum gas also, known as cooking gas cylinders, annually.He said the only LPG cylinder manufacturing company in the country located at Isheri in Ogun, has the capacity to produce only 400,000 cooking gas cylinders yearly. He said this was far below what Nigerian homes required annually, adding that this had encouraged the in-flow of substandard and expired LPG cylinders into the country. Wabote said in order to stop this, the board had conceived what he called “the local manufacture of liquefied gas cylinders’ initiative.” http://guardian.ng/news/nigeria-set-to-boost-oil-production-as-agip-begins-13-5b |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by joeace2020(m): 7:44am On Apr 04, 2017 |
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Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by clickbnkgod: 7:44am On Apr 04, 2017 |
All for papers, I pray this one comes to completion for the benefits of all Check my signature |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by jeeqaa7(m): 7:44am On Apr 04, 2017 |
Ok |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by hypertension(m): 7:44am On Apr 04, 2017 |
Its good for the economy. All Thanks to the oil communities. 3 Likes 1 Share |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by Dauraking: 7:44am On Apr 04, 2017 |
Is the proposed $13.5 billion investment on the two cups of Lagos Oyiiil or half cup of Bauchi and Maiduguri Oei? My gut feeling tells me that I t's the usual Niger Delta Oyel that the Zoo is eyeing. That's after trying to run Tompolo out of town and staging foolish Operation Crocodile Smile where the Zoo Army cried and drowned . The Zoo and the Lizard are learning the hard lessons in governance. You can't invade people to appropriate their resources without receiving a bloody nose. 11 Likes |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by Primusinterpares(m): 7:45am On Apr 04, 2017 |
I trust God that i will get a Job here when the project is completed... #God bless Nigeria 4 Likes |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by adioolayi(m): 7:47am On Apr 04, 2017 |
Hope they've done necessary Environmental Impact Assessment Tests, duly carry the host communities along and necessary compensations sorted ![]() They should not use this to start another unending wahala ooo 2 Likes |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by ferdison(m): 7:47am On Apr 04, 2017 |
I see job opportunities for the unemployed in this project. Amen Amen Amen 3 Likes |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by oviepuege(m): 7:47am On Apr 04, 2017 |
Inception: Woow. First 2 comment. Were is d NAE project located. Bayelsa, delta or rivers states. Or deep sea Atlantic Ocean 1 Like |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by registration(m): 7:47am On Apr 04, 2017 |
Yes, this is a nice development. More Dollars would be added to our reserve |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by nNEOo(m): 7:47am On Apr 04, 2017 |
Begin begin begin begin always beginning something the can't finish 1 Like |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by mrvitalis(m): 7:48am On Apr 04, 2017 |
Mehn I need 2.8 million to run my IWE program Am sure we don't have up to 200 welding engineers in Nigeria ...mehn this is chance for me ..let's keep hustling nah ..maybe before this year ends we can hit that amount 2 Likes |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by Repairnigeria(m): 7:49am On Apr 04, 2017 |
great |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by Naijalabel(m): 7:53am On Apr 04, 2017 |
Zabazaba 3 Likes
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Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by omololu2020(m): 7:57am On Apr 04, 2017 |
Naijalabel:where is it located |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by Naijalabel(m): 7:59am On Apr 04, 2017 |
omololu2020: 1 Like
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Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by Naijalabel(m): 8:03am On Apr 04, 2017 |
Ben Murray Bruce responds to fake circulated Whatsapp message. The Amanyanabo of Okrika kingdom has a lot of oil wells situated in his kingdom. He has no oil well. But the Sultan of Sokoto has over 10 oil wells in Niger Delta. The Amanyanabo of Bonny in Niger Delta has oil wells in his kingdom, but he has no oil well to his name but The Emir of Kano has over 5 oil wells in Niger Delta territories. The Amanyanabo of Kalabari has so many oil wells in his kingdom but has no oil well to his name in his kingdom but the Emir of Gwazo has over 5 oil wells in Niger Delta territories. In Ogonilands there are so many oil wells but none of the kings in Ogonilands have any oil wells but General Danjuma has over 10 oil wells in Ogonilands. The list can go on but Niger Delta people and their kings don't have oil wells . Such a situation, will you say it is fair to the Niger Delta people in Nigeria? Let's restructure and live in unity. The cheating is very bad and not fair. This is the bane of the corruption in Nigeria.#END Sen. Ben Murray Bruce. 1 Like
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Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by Damilolababy(f): 8:11am On Apr 04, 2017 |
ok |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by hucienda: 8:14am On Apr 04, 2017 |
When will the project likely come onstream? 2020? 2022? Is the journalist sure it's a JV since it's a deepwater project? |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by seguno2: 8:14am On Apr 04, 2017 |
Will this be in the north for the oil that was discovered there recently? Who knows? |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by sakalisis(m): 8:17am On Apr 04, 2017 |
Good |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by olaoreawofele: 8:18am On Apr 04, 2017 |
Freedom of speech. U am welly welly. Dauraking: |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by aminho(m): 8:26am On Apr 04, 2017 |
mrvitalis:ptdf has trained more than 500 i met some of them im france last year |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by Inception(m): 8:50am On Apr 04, 2017 |
Dauraking: The field has proven reserves of over 5 billion barrels( the largest in Africa). The facilities to be built will only harness 560 million of that. |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by Inception(m): 8:54am On Apr 04, 2017 |
hucienda: It is expected to produce first oil in 2020. The Etan project will come online 3 years later as a tieback to the zabazaba field |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by hucienda: 9:07am On Apr 04, 2017 |
Inception: Ok. Thanks boss. That's in three years. Wow. Could they close it out in that time - with the paperwork, redtape, bureaucracy and all in the country? Appears deepwater is becoming the new frontier in conventionals. |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by mrvitalis(m): 9:25am On Apr 04, 2017 |
aminho:that's still good na ..cos we need more than 5000 Most company use experienced welding inspectors as welding engineers |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by Nobody: 11:08am On Apr 04, 2017 |
Good one. Bonga SW/ Aparo is next |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by deepwater(f): 11:03pm On Apr 04, 2017 |
majekdom2: Bonga south west is on already, rigs coming in early 4th quarter this year. PSVs to support the rigs are being sourced as I type this. 1 Like |
Re: Nigeria Set To Boost Oil Production As Agip Begins $13.5b Project by Nobody: 11:10pm On Apr 04, 2017 |
deepwater:seriously?? Which of the companies won the umbilical and well head contracts?? Thought the FID is pending. 1 Like |
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