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Marine Platforms Trains Nigerian Engineers



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  • Marine Platforms Trains Nigerian Engineers

Marine Platforms Limited said it had completed a training programme for a set of Nigerian engineers under the Human Capacity Development scheme of the Nigerian Content Development and Monitoring Board.

A statement on Wednesday said the training was undertaken under the Agbami Phase III Project for transportation, installation and pre-commissioning of various sub-sea umbilicals, risers, flowlines and other infrastructure executed by Marine Platforms for Star Deepwater Exploration and Production Limited, a Chevron company.

It described the Human Capacity Development programme as a drive pursued by the NCDMB in fulfilling its mandate to address the dearth of trained manpower in the oil and gas industry in Nigeria.

The company said the training curriculum was developed to give participants maximum exposure to the operational workings of the oil industry from a service contractor’s perspective.

It said the programme was structured over six months and was designed to give hands-on experience in the subsea segment of the oil and gas industry.

The trainees also experienced several practical exercises aboard Marine Platforms ‘chartered’ offshore construction vessel, the Polar Onyx and the Marine Platforms owned and full duty paid multipurpose support vessel, the African Inspiration, which were both deployed for the Agbami Phase 3 operations. They also had practical involvement in the mobilization of major work scopes such as acid injection operation and suction pile installation on the Agbami Field.

Chevron’s Deep-water and Facilities Engineering Manager, Mr. Ike Obinwa, was quoted as saying at the ceremony marking the end of the programme, “People development is what we value. We have had so many achievements on the Agbami phase 3 project and this is another feat that adds value. These set of skills will enable them to develop their career and make them valuable to the oil and gas industry in Nigeria.”

The Human Capacity Development Manager, NCDMB, Mr. Maurice Iwhiwhu, described the programme as another major outcome that further contributed to human capacity development in the industry.

“With an agenda to bridge the skills gap in the country, NCDMB has collaborated with companies such as Chevron and Marine Platforms to promote personnel development across the sector,” he said.

The Chief Finance and Administrative Officer, Marine Platforms, Mr. Baji Nyam, said the company was grateful and proud to have had the opportunity to promote the development of Nigerians.

He said, “The growth of local capacity in both human and equipment is a key aspect of the company’s objectives in its contribution to nation building through local content.”

According to him, Marine Platforms’ training and development programmes have increased consistently over the years in various areas such as the training of seafarers, maritime cadets, ROV pilot technicians and subsea engineers.

“It is Marine Platforms’ dream to see that Nigerian youths of today are well prepared to take over the operations in the Nigerian oil and gas and maritime industries,” he said.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.

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NCDMB and NEXIM Sign $30 Million Agreement to Support Oil and Gas Services Firms



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The Nigerian Content Development Monitoring Board (NCDMB) and the Nigerian Export-Import Bank (NEXIM) yesterday signed a $30 million agreement on working capital and capacity building fund to support oil and gas services firms.

Simbi Wabote, Executive Secretary, NCDMB and Managing Director, NEXIM Bank, Abba Bello, signed the funding agreement at the Abuja office of the Nigerian content monitoring agency.

Wabote said the Oil Producers Trade Section, Independent Petroleum Producers Group and Petroleum Technology Association of Nigeria had raised concerns over funding challenges confronting oil services firms, as this had made most of the companies to consider downsizing their staff.

He said, “The OPTS and IPPG had at some point raised before the NCDMB the inability of most indigenous contractors to provide services to them due to challenges of funding.

“This was especially when we got struck by the COVID-19 pandemic. I recall receiving several letters particularly from IPPG trying to see how we can support this.”

He added, “I also recall receiving similar letters from PETAN when the COVID-19 struck and most of their members had nothing to do anymore.

“This is because companies were shut down and their members were threatening on how to downsize and take Nigerians off their payrolls.

“Based on this, we then set up a committee to say how do we support these firms with the provision of working capital.”

Wabote noted the roll-out date for the fund would be July 1, 2021 and that the fund size of $30m would be boosted by matching funds of the same amount to be provided by NEXIM in naira (to be converted at prevailing official exchange rate).

“The scheme shall cover loans for working capital support and capacity building, oil service contracts, invoice discounting including acquisition of low-end equipment to service short-term contracts/service obligations,” he stated.

He said the target market comprised Nigerian oil service providers which belonged to a professional association in the Nigerian oil and gas industry and commercially viable with a business relationship with either an international oil company or a major Nigerian oil firm.

“Maximum amount that can be borrowed by a single obligor is $1m or its naira equivalent at the official exchange rate prevailing at the time of borrowing,” Wabote said.

He added, “Tenor shall be up to 12 months for working capital loans and up to three years for capacity building loans with moratorium of up to 12 months.

“The applicable interest rate shall be five per cent per annum all-in for dollar-denominated loans and eight per cent all-in per annum for naira-denominated loans and the rate shall be fixed throughout the tenor of the loan.”

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LivingTrust Mortgage Bank Appoints Mr. Timothy Olorunsogo Gbadeyan as Company’s Secretary



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LivingTrust Mortgage bank has appointed Mr. Timothy Olorunsogo Gbadeyan as company secretary/head of legal services.

The bank disclosed in a statement signed by Ikechukwu Omuku, the Finance Officer/Head, Investor Relations, LivingTrust Mortgage Bank Plc.

The statement reads “We wish to notify The Nigerian Stock Exchange and the investing public of the appointment Mr. Timothy Olorunsogo Gbadeyan as Company Secretary/Head, Legal Services of LivingTrust Mortgage Bank Plc.

“Mr. Gbadeyan is a consummate corporate attorney with experiential background in deals advisory, real estate finance, facioring, general commercial transactions, corporate governance, company secretarial services and regulatory compliance. Until his appointment, he was the Head of Legal Services of Infinity Trust Mortgage Bank Plc.”

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Farmforte, Others Signs MoU To Strengthen and Sustain Growth in Agricultural Sector



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Farmforte Limited has signed a strategic Memorandum of Understanding with the Agricultural Fresh Produce Growers and Exporters Association of Nigeria; HYBR, a pan-African innovation firm; and ALTS, a consulting and strategy development firm.

The firm said in a statement on Sunday that the partnership would strengthen common interest cooperation and stimulate inclusive and sustainable growth within the agricultural sector, by capitalising on the synergy and comparative advantage offered by each organisation.

Speaking during the signing ceremony, Farmforte Co-Chief Executive Officer, Osazuwa Osayi, said, “Our mid to long-term strategic goals are further reaffirmed, as this partnership will facilitate the sharing of knowledge, ideas, and expertise across the agricultural sector.

“We will collectively address initiatives and approaches concerning agricultural investments, food security, and the overall robustness of the value chain.”

He said the collaboration would also unlock the full potential of the sector and place it on a renewed path for success, especially within a post-pandemic economy.

The President of AFGEAN, Tajuddeen Dantata, said, “By creating dialogue and fostering investment in the horticulture sector, this partnership will endeavor to support Farmforte in its exporting efforts by improving operational efficacy and cost-savings, while ultimately driving socio-economic growth in the country.”

The Chief Executive Officer, HYBR, Charles Ojei, said to drive inclusion, sustainability, job creation, and Nigeria’s overall economic growth, the optimisation of the agriculture value chain was critical.

“This collaboration is a fusion of the complementary capabilities of all partners to move a bigger agenda forward.”

The Managing Partner, ALTS, Akintunde Sawyerr, said, “The goal of this partnership is to support Farmforte’s vision of becoming the largest agribusiness by 2035 via scalable and world-class innovation across its enterprise.”

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