$500m Ikike project kicks off five months after approval in Rivers
The $500 million Ikike project started yesterday after five months of its approval by the board of Nigerian National Petroleum Corporation (NNPC).
The Ikike oil field is part of the OML 99 Licence in the Total/NNPC joint venture and it is estimated to hold 70 million barrels of crude oil.
The deal to kick off the project was signed by the Secretary of Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote and Senior Vice President, Total E and P, Africa, Nicolas Teraz, at the 2019 Nigerian Oil and Gas conference in July this year.
The project is said to deepen Nigerian content implementation by creating huge work opportunities for indigenous companies and thousands of jobs for qualified young Nigerians.
The first steel cut ceremony on the project was carried out yesterday in Port Harcourt by General Manager, Ikike Project, Modestus Nwosu; Executive Chairman, Nestoil Group, Dr. Ernest Azudialu-Obiejesi and Managing Director of Energy Works Technology (EWT), Dr. Tunji Olanipekun, the contractors of the project.
Nwosu described the take-off as very significant because, according to him, it shows that local companies can take pride in adding to the production of oil in Nigeria.
He said that what the EWT had done was to show that Nigerian companies have the capability to handle any form of fabrication work.
According to Nwosu, “that serves as an encouragement for other Nigerian companies that are aspiring that they can as well excel. It is a show of trust, confidence and support on the side of Total to give this kind of job to EWT, an indigenous fabrication firm. It is something that Nigerians should be proud of, as it has set a very good track in the industry.
Also speaking, the Nestoil boss described the project’s take off as very significant as it marks the beginning of the construction of another fabrication work that would earn the nation another milestone in the oil and gas industry.
He said: “It is a significant day for the kick-off of Ikike project. It is an important day for the journey of Nestoil in achieving the Ikike project. The vessels, when they are fully constructed, would be installed on the topside of the Ikike platform and this will be another milestone in the achievements of the oil industry and the local content development.
He assured that the firm would not disappoint Total and the nation in delivering the Ikike project, as it did not fail in the Egina project.
Besides, Olanipekun said that the work was the continuation of the Egina project, noting that it would deepen the milestone of the Egina project.”
He expressed hope that the project would be a success and a huge boost to local content.
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