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Indigenous Operators Now Supplying 60% Of Gas – Wabote

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr Simbi Wabote, has said the indigenous oil and gas operators’ ownership of gas production has increased to over 60 per cent.Mr Wabote said this was realised through the implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010.

He disclosed this yesterday during the “Local Content Workshop for Bayelsa State Judiciary” organised by NCDMB in Yenagoa. 

With the NOGICD Act, he said, “Nigeria has also moved from near zero participation in the operations side of the oil and gas sector to the point that our indigenous operators such as Seplat and Aiteo are now responsible for 15 per cent of our oil production and 60% of our domestic gas supply.”

Wabote also said the Nigerian content in the oil industry which was about five per cent in the past had increased to 42 per cent with the content law.

He said, “The local economy used to retain little or nothing from the annual oil industry spending of $20bn before the NOGICD Act 2010, but it’s now able to retain more than $8bn in-country per year.”

The Chief Judge (CJ) of Bayelsa State, Justice Kate Abiri, assured of the court’s readiness in playing its constitutional role towards attaining the objective of the NOGICD Act.

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Source: Dailytrust

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