16 November 2015, Lagos – The Oil and Gas Free Zone Authority (OGFZA) has expressed satisfaction with the level of work done so far at the site of the Brass Fertilizer and Petrochemicals Company Limited located at Odioama, Brass Island, Bayelsa State.
The OGFZA has also assured the federal government’s readiness to continue to create the enabling environment for the inflow of foreign direct investment to the country through the successful operation of the newly established free trade zone.
General Manager, Operations and Technical Services, OGFZA, Mr. Adekunle Ajayi stated this when the Board and management of authority visited the project site last week as part of the administration and management of zones under its mandate and to have a spot assessment of operators within the zone. Other members of the eight-man team of OGFZA officials included: General Manager, Legal Services- Sule Wasui; General Manager, Trade and Investment Adamu Mamman Kontagora; General Manager, Special Purpose Vehicle- . Gilbert Enos; Head, Regional Office, Lagos- Jamil Bashir; Head, Free Zones Coordinator- Mrs. Boma Kalio; and Head, Protocol- Bobo Pepple.
Ajayi , who led the team remarked that based on the provisions of the enabling Act, the expectation of the federal government was that operators within the zone were under obligation to commence business in earnest.
While assessing parts of the 595- hectare project site under clearing and preparation, the team inquired on the source of gas supply and whether the Gas Supply Agreement with the Shell Petroleum Development Company had been signed among others.
Responding, the Community Relations Advisor, Brass Fertilizer & Petrochemicals Company Limited, Mr. Fafa Stephen-Gow, said the company continued to enjoy a good working relationship with the Odioma community who have been offered 1.5 per cent equity interest in the project.
Stephen-Gow emphasized that the site was designed to accommodate a Urea plant, a Methanol plant, a power plant, a residential complex, an export jetty, typical road/ access networks and ample buffer zone and that gas for the project would be sourced from Shell and the nearest of the secured five gas fields about 40 nautical kilometers away from the Shell Nembe Creek.
Commenting on the visit, the Group Managing Director, Bayelsa Development and Investment Corporation, Mr. Tamunoye Alazigha described it as historic, saying it will facilitate the successful completion of the company, which is expected to employ over 20,000 Bayelsans and create thousands of ancillary jobs
He stated that the Corporation was sourcing for funds to take up its 10 per cent equity in the Brass Fertilizer Project and expressed satisfaction with the federal government’s choice of Brass as the location for the Oil and Gas Free Zone in view of its strategic importance to the economy of Bayelsa State.
Alazigha, who is a global investment banker, financial engineer and asset manager, remarked that the establishment of the zone would catalyse development in not only the state but the entire West Africa sub-region, considering the unique package of incentives and strategic advantages available to investors in the zone.
- This Day