02 June 2014, Lagos – Managing Director of Oilserv, Mr. Emeka Okwuosa has urged the National Assembly to expedite action towards the passage of the Petroleum Industry Bill (PIB) into law in order to attract more investments into Nigeria’s oil and gas sector.
Okwuosa, who made the call in a recent interview with journalists, said the delay in the passage of the PIB was a major setback to the desired transformation in the petroleum industry.
He argued that the oil and gas industry regulatory system and laws are very much out dated, and do not accurately represent the true position of things in the sector.
According to Okwuosa, the signing of the Nigerian Content Act into law in April, 2010 has resulted in the engagement of indigenous contractors in jobs hitherto handled by foreign firms.
He said aside from empowering indigenous companies, Nigerian companies have built capacity that is sustainable and are now able to offer credible and competitive services in the sector.
According to him, indigenous companies are now taking control of lucrative pipeline construction projects since the passage of the Nigerian content law. He pointed out that the East-west Gas Pipeline project, which was awarded to Oilserv after the opening and examination of bids the company and and other foreign companies was possible due to steady investment in capacity building and the Petroleum Minister’s insistence that indigenous companies must be accorded due recognition in line with the Nigerian Content Act.
He disclosed that the Oilserv is currently handling 11 projects valued at about $550 million. Okwuosa said some of the projects had been completed while others are at various stages of completion included the engineering, procurement and construction (EPC) of Obiafu/Obrikom to Obennode gas transmission pipeline system lot B.
The projects, he said, involved the construction, testing and commissioning of Oron Gas transmission pipeline system, associated pigging facilities and construction of greater Lagos phase 1V gas distribution network system.
Others are the EPC of pressure reduction metering system, EPC of the National Integrated Power Project (NIPP) Lot 1 of gas transmission pipeline system and construction, installation, testing and commissioning crude oil pipeline system as well as other associated facilities. The project included total upgrade of Ikeja gas metering station, EPC of gas transmission pipeline system, as well as earth and associated civil works.
He explained that the delay by the Nigerian National Petroleum Corporation, NNPC in securing the right of way for the 120km x 48 inch Ob/Ob Oben East-West Gas Pipeline was a major setback to early completion of the project, which was aimed at increasing gas supply to the domestic market.
Okwuosa, however, gave a firm assurance that the project would be completed within 20 months.
Oilserv, an Oil and Gas EPC (Pipeline & Facilities) company incorporated in 1992 commenced operation in 1995. The company, which also offers services beyond the Nigerian shores especially in the West African sub-region, has integrated its strength in the construction of oil and gas pipeline/ flow line , metering station and facilities technology including maintenance of oil and gas pipeline and facilities, fabrication, procurement and project management to offer single point responsibility under stringent delivery schedules.
– This Day