Total’s Ikike project gulps $500 million, says NCDMB

The Nigerian Content Development and Monitoring Board, (NCDMB) has said the execution of Total Exploration and Production Nigeria’s Ikike Field Development Project would gulp at least $500 million and the project is expected to deepen Nigerian Content implementation, create huge work opportunities for local service companies and thousands of employment prospects for qualified young Nigerians.

According to the Executive Secretary, NCDMB, Simbi Wabote, the Ikike field is also expected to add 32000 bopd at Plateau to Nigeria’s oil production.

The project deal was signed recently by the Executive Secretary of NCDMB, Wabote and the Senior Vice President, Total E&P Africa, Nicolas Terraz .

Sequel to the endorsement, the NCDMB issued the Nigerian Content Compliance Certificate (NCCC) for the Ikike field development to Total E and P.

The issuance of the NCCC marks the conclusion of the technical and commercial evaluations on the Ikike project by the NCDMB, National Petroleum Investment, and Management Service (NAPIMS) and Total. The NCCC paves way for the commencement of the execution phase of the project.

The Ikike field is located in the OML 99 license offshore Nigeria, with Total being the operator with a 40 percent stake. The project is expected to be developed as a tie-back to Amenam (5 wells) platform.

The Senior Vice President, E&P Africa, Nicolas Terraz, who signed the NCCCs on behalf of NNPC/TEPNG JV expressed appreciation for the co-operation and support of NCDMB throughout the tendering phases of the Ikike project which culminated in the endorsement and issuance of the NCCCs in record time.

He noted that with the signing of the NCCCs for the entire four packages of the project prior to the formal award of contracts, TEPNG, through Ikike Project, has demonstrated utmost level of compliance to the provisions of the NOGICD Act 2010, and thus set an exemplary record to be emulated by subsequent projects of similar nature.

The four contract packages endorsed by NCDMB include Construction and Commissioning of Jacket and Topside; Subsea, Umbilicals, Risers, and Flowlines; Brownfield Modification and Integration Works and; Instrumentation Controls and Safety Systems.

The Executive Secretary NCDMB, Wabote commended Total for reaching the milestone, which according to him, is coming after the conclusion of the Egina Deepwater Project, which recorded landmark Nigerian Content accomplishments.

“Total Ikike Project in Nigeria has officially kicked off; it is one of the projects we talked about during the 2019 Nigerian Oil and Gas Opportunity Fair. They have also started working on the Preowei Project”, he said.