FG working on policies to bring other projects similar to Egina onstream – Kachikwu


The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that the Federal Government was working on all fronts to ensure that oil projects as big as the Egina Floating Production Storage Offloading (FPSO) project come on stream quickly, The Guardian reports.

He gave the assurance yesterday in Lagos during the tour of the project. He said the Federal Government was working hard to ensure that projects that are as huge as Egina come on stream as soon as possible.“We are going to work hard to push other companies to reach proper terms. The job is still ongoing on the Egina project and we are going to ensure that some of the skills acquired by the workers fit into the country’s development.”

“The FPSO is a $16 billion investment, outside the Bonga South West and Zabazaba projects. There is still so much to be done to get the policy thrust that would drive investment in the country’s upstream sector. We have passed the gas and petroleum policy bill and we are working on the fiscal policy. In terms of legislating the policies, the National Assembly is working on the fiscal terms and host community’s aspect of the bill,” he said.