The NCDMB today announced the upcoming introduction of a policy “Back to the Creeks Initiative”, which is one of the strategies of the NCDMB to tackle increasing pipeline vandalism, and combat crude oil theft.
The policy was announced at the ongoing 42nd Annual Conference of the Nigerian Association of Petroleum Explorationists (NAPE), by the Executive Secretary, Engr Felix Ogbe while presenting a paper titled, “Resolving the Nigerian Energy Trilemma: Energy Security, Sustained Growth, and Affordability,”.
Engr Ogbe disclosed that the board had put together several initiatives and strategies to create a safe and secure operating environment for oil and gas companies, eliminating the huge costs associated with vandalism and attacks on personnel and installations.
Represented by the General Manager, Corporate Communications and Zonal Branding, Mr Esueme Dan Kikile Esq., Ogbe stated “We are convinced at the Board that the incessant tampering with crude oil pipelines and hostilities in oil-producing communities have a huge impact on energy security,”. He noted that these are major threats to Nigeria’s energy security; higghlighting
The NCDMB Boss further revealed that the new initiative is geared towards curtailing incidences of disruptions of oil industry operations through targeted interventions. These include;
- Execution of corporate social responsibility projects in communities,
- Provision of affordable finance to local contractors,
- Upgrade of basic educational facilities in villages and communities,
- Building the capacity of teachers and
- Improving the infrastructure at that level.
According to Ogbe, details of the initiative would be unveiled soon for the public. This is expected to create a stakeholder feeling in host communities and make them view industry assets around them as facilities that are bound up with their socio-economic well-being. Such an orientation, says the Executive Secretary, would translate into safety of assets, increased crude oil production, drastically reduced security costs and more favourable pricing of petroleum products.
To achieve the above objectives, the Board has also undertaken to work with stakeholders in the industry to dedicate one week in every calendar year to signing Final Investment Decisions (FIDs) on new projects, as prospective investors could be motivated to act expeditiously to meet agreed-upon deadlines and regulators are similarly encouraged.
Engr. Ogbe noted that FDIs would “catalyze new projects in the Nigerian oil and gas industry,” and that fruitful collaboration amongst stakeholders and NCDMB would actualize the intentions of the Presidential Directives rolled out in March 2024 by The Presidency, and thus “fast-track the contracting cycle and incentivize investments in our sector.”
Ogbe further suggested for the FDI Week to be incorporated into any of the major oil, gas and energy conferences held in the country. According to him, the Board holds a similar biennial event called Nigerian Oil and Gas Opportunity Fair (NOGOF), which is attended by all the international and indigenous operating companies to share awareness of opportunities and projects to be executed.
