The Nigerian Content Development and Monitoring Board (NCDMB) and Nigerian Agip Oil Company (NAOC) have agreed to work together to ensure speedy development of the Zabazaba and Etan deep water project in compliance with the provisions of the Nigerian Content Act, The Authority reports.
A statement by NCDMB said it reached the agreement with Agip during a recent meeting to review the project which is expected to generate $8 billion revenue to the government. The parley which held at the NCDMB headquarters in Yenagoa, Bayelsa State was attended by the Executive Secretary of NCDMB, Engr. Simbi Wabote and Managing Director of NAOC, Mr. Massimo Insulla.
Speaking at the meeting, Wabote assured the Agip delegation that the Board will support the speedy execution of the Zabazaba and Etan project through timely review of contract tenders and execution of necessary approvals in view of the urgent need to increase the country’s crude oil production capacity and shore up revenue for the national economy.