FEC Approves N2.923bn for Oil, Gas Facilities in Cross River

The Federal Executive Council (FEC) yesterday approved N2.923 billion contract for the provision of infrastructure for the manufacturing of oil and gas components at Odukpani, Cross River State.

Briefing reporters after the virtual FEC meeting in Abuja, the Minister of State for Petroleum, Chief Timipre Sylva, said the total contract sum of N2,923,480,976.70, including tax, was awarded to Messrs Kinetic Electro-Mechanical Limited with the completion period of 15 months.

Sylva, who said the project would serve as an additional infrastructure facility for the manufacturing of oil and gas components in National Oil and Gas Park, added that upon completion, the project would boost capacity in oil and gas sector, provide job opportunities for Nigerians and boost economic activities in Odukpani.

He said: “Today, council approved the provision of water and fire service equipment in the National Oil and Gas Park to be sited in Odukpani, Cross River State in the sum of N2,923,480,976.70.

“The oil and gas scheme is to provide an environment, a corridor for citing industries that would produce components locally for the oil and gas industry. Of course, these parks will create jobs and also increase local capacity and participation in the oil and gas industry.

“When completed, it will also boost capacity in the oil and gas for sector; provide job opportunities for Nigerians and boost economic activities in the Odukpani area of Cross River State.”