Agip’s $13.5bn Zabazaba project set for commercial tenders

*Nigeria Agip Oil Company, NAOC.

04 April 2017, Sweetcrude, Lagos – The Nigerian Content Development and Monitoring Board,, NCDMB, has announced that the Nigerian Agip Exploration Limited’s $13.5 billion Zabazaba deepwater project is set for commercial tenders.

The agency said in a statement obtained by SweetcrudeReports that the oil and gas exploration and producing company will receive commercial proposals as from this month and that this followed the conclusion of technical evaluation for the main package of the project between it and Agip, especially as it concerned the maximisation of  local content.

It stated in the statement that the package included the floating, production, storage and offloading units, subsea, installation and rigs.

NCDMB’s Executive Secretary, Mr. Simbi Wabote, said the board fast-tracked its evaluation and approval on the Zabazaba project, with the view of increasing Nigeria’s crude oil production and creating opportunities for the growth and development of local content.

According to him,  the conclusion of the technical evaluation had paved the way for the NAE to proceed with its plans to receive and evaluate the commercial bids, conclude negotiations and award contracts in the second quarter of this year.

He commended Agip for working harmoniously with the NCDMB, saying the company took on board all Nigerian content requirements.

Wabote disclosed that the Nigerian Agip Exploration Limited plans to achieve its first oil in 2020, is determined to make the final investment decision in the second quarter of this year and start the execution of the project in the third quarter.

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