Vowgas commends NCDMB over agreement with oil producers
The Managing Director of Vowgas Nigeria Limited, Godwin Izomor, has commended the Nigerian Content Development Management Board (NCDMB) for assisting operators in the oil and gas industry.
His commendation followed the agency’s determination to shorten the contracting cycle, which has been blamed for the delay in execution of projects. The NCDMB had recently signed the Service Level Agreement (SLA) with Oil Producers Trade Section (OPTS) to specifically shorten the Nigerian Oil and Gas Contracting Cycle, for which the Nigerian experience was considered the longest globally.
Izomor lauded the initiative of the NCDMB, Nigerian National Petroleum Corporation (NNPC) and OPTS in tackling the age-long problem, describing it as a significant milestone.
MG Vowgas Group, a fast-growing Nigerian EPIC currently operating from its ultramodern fabrication complex in Port Harcourt, recently got ISO Certification 9001: 2015 by Bureau Veritas Certification Holdings SAS-UK.
The certification comes with engineering, procurement, construction (fabrication) and installation, in recognition of its adherence to Total Quality Management System (TQMS), which conforms with acceptable international standards. Izomor explained that the content and terms of the SLA would boost investors’ confidence in the Oil and Gas market, which would usher-in new players.
“In the same vein, it will reduce risk as banks can freely support oil and gas investments due to quicker return on investments (ROI), just as it is bound to remarkably reduce the cost of projects,” he said. He added that the new agreement would “significantly improve the Nigerian Content in line with the NOGICD Act, as it will terminate the unnecessary bureaucracy in the industry.”
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