NNPC, NCDMB, Zed Energy sign shareholders agreement for Brass products terminal

NNPC, NCDMB, Zed Energy sign shareholders agreement for Brass products terminal

NNPC, NCDMB, Zed Energy sign shareholders agreement for Brass products terminal

Omolara Ojekunle

… Sylva hails Buhari’s impact in Niger Delta

…project will generate 6,000 jobs, says Kyari

Nigerian National Petroleum Corporation (NNPC), the Nigerian Content Development & Monitoring Board (NCDMB) and Zed Energy have signed Shareholders Agreement for the establishment and execution of a 50 million litre Petroleum Products Terminal in Brass, Bayelsa State.

Dr. Kennie Obateru, Group General Manager, Group Public Affairs Division, Nigerian National Petroleum Corporation stated this in a statement released to the media on Friday.

The N10.5 billion Brass Petroleum Products Terminal project according to the statement, is expected to deliver an automated 50 million litre depot with two-way product jetty, automated loading bay, and 6 automated tanks for storage of 30 million litres of Premium Motor Spirit (PMS)and 20 million litres of Automotive Gas Oil (AGO) and Dual Purpose Kerosene (DPK).

Speaking at a ceremony to mark the execution of agreement, the Minister of State for Petroleum Resources, Chief Timipre Sylva, commended President Muhammadu Buhari for his giant strides in the Niger Delta which is making a huge impact on the people of the area.

“I make bold to say today without any fear of contradiction that no President has impacted the people of the Niger Delta like President Muhammadu Buhari. Aside from what we are witnessing today, remember there is also the Brass Fertilizer & Petrochemical Company, the Oloibiri Oil and Gas Museum and the Oil & Gas Park in Ogbia, all under Mr. President,” the Minister stated.

Sylva added that the establishment of the Terminal further demonstrates Mr. President’s commitment to the enhancement of the livelihood of the Niger Delta people particularly, the riverine communities in Bayelsa State where people purchase products at exorbitant prices due to logistics challenges associated with transporting products to that area.

Speaking shortly after signing the agreement, the Group Managing Director of the NNPC, Mallam Mele Kyari said the Corporation was proud to be part of the project which aside ensuring products availability in all nooks and crannies of the Niger Delta, will also guarantee the nation’s energy security and generate employment.

“This Terminal will create 1,000 direct jobs during the construction phase, and over 5,000 indirect jobs during its operation. Considering the potential for employment when completed, this will definitely reduce youth restiveness in the Niger Delta area and will also address the problem of illegal refining in the area,” Kyari stated.

In his remarks, the Executive Secretary of NCDMB, Simbi Wabote stated that  this milestone was as a result of strong interagency collaboration and public-private sector partnership. “The NCDMB will continue to drive such partnerships across the industry to bring development in Nigeria,” he noted. Earlier, the Coordinator of the Project and Group General Manager, National Petroleum Investment Management Services (NAPIMS), Mr. Bala Wunti stated that the project would enhance the economics of marine petroleum products distribution.