*Board to commission solely funded vessel two weeks time
22 September 2018, Sweetcrude, Lagos — The Nigerian Content and Development Monitoring Board, NCDMB has said only vessels 100 percent owned by Nigeria based investors will remain on platforms soon.
Executive Secretary, NCDMB’s, Mr. Simbi Wabote made the statement at the renaming ceremony of the NigerStar 7 $10 million Adaba vessel held at Nigerdock, Snake Island on Thursday.
In his opening address, Wabote said the move was necessary especially since the Board is currently undergoing its vessel re-identification exercise.
“I am delighted to be here because the vessel we are renaming is one hundred percent owned by NigerStar and Nigeria. That is why this ceremony is very important as NCDMB is undergoing vessel re-identification process,” he said.
While reading his welcome address, chief executive officer, Nigerdock, Mr. Pade Durotoye, expressed the company’s delight in partnering with NigerStar 7, adding that the vessel will be of great benefit to the Nigerian oil and gas sector.
“As we celebrate an additional vessel into the oil and gas sector, let us focus on possibilities through this partnership,” he added.
Chief executive officer, NigerStar 7, Mr. Yann Cottart, said the acquisition of the vessel will henceforth put the company in the fore as “a contractor of choice” to investors and stakeholders in Nigeria.
“With this investment, NigerStar 7 is not bringing only possibilities into the oil and gas sector but creating job opportunities,” he said.
The Adaba is a DP2 Anchor Handling and Supply Vessel with a 140 tonnes bollard pull. NIGERSTAR 7 ADABA will be flying the Nigerian national flag, rated as DP2 and is equipped with Kongsberg DP system. The vessel is also equipped with Fire Fighting System (FIFI) Class 1 and is capable of fighting offshore facility and ports fire incidents.
Mrs. Olapeju Adenuga who is both the godmother of the vessel and Legal Counsel, NigerStar 7, said she desires for the vessel to be remembered as the bringer of “hope, transformation and integrity” into the Nigerian oil and gas sector.
Mr. Anwar Jamakani, Jagal Group Executive Chairman, assured that the partnership between NigerStar7 and Jagal will stand the test of time, adding that the duo is “committed to delivering the best services to the sector and Nigeria”.
Speaking further, Wabote revealed that another vessel solely owned by the Board and funded by the Bank of Industry BoI will be commissioned in Port Harcourt in two weeks time.
He encouraged investors to delve into the Nigerian oil and gas sector without fear, assuring that there are “abundant opportunities and laws” to protect them.
Wabote stressed the need for industry players to partner and cooperate among themselves to develop local content in the oil and gas industry and grow investors’ confidence in the economy.
He commended the business model of NigerStar 7, which is a partnership between Nigerdock and Subsea7, noting that it has helped the group build a formidable presence in engineering, fabrication, installation, and project management.
Wabote charged other service providers to build bridges especially now that the industry was rebounding from a period of downturn. “We see rays of light in the sanctioning of big-ticket projects. There is the need to collaborate more and build partnerships that last. The opportunities in the industry are quite vast and there is room for a win-win situation for all,” he said.