By Chioma Iruke
The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote has advised indigenous service companies in the Nigerian Oil and Gas Industry to invest in asset ownership because it is a major yardstick used by the Nigerian Oil and Gas Industry Content Development (NOGICD) Act to define Nigerian companies and confer advantages on them.
The Executive Secretary gave the advice on Friday in Port Harcourt, Rivers State while commissioning PIMO Services Ltd’s new facilities and equipment.
He explained that the acquisition of important assets defines genuine Nigerian businesses who are not middlemen or commission agents but are positioned to offer top-notch services in-country.
Wabote added that investments in assets also proves that Nigerian businesses are taking up the challenge to grow their outfits and contribute to in-country capacities and capabilities.
Assets commissioned by the Executive Secretary included Operational Bases I & ll of PIMO Services and their newly acquired equipment, which included Hydro Hammer with the capacity of 200 kilo Joules, Internal Lifting Tools with the capacity of 250 tons, up to 42-inch diameter Conductors and Casing Running Tools, and many other state of the art tools to service the Oil and Gas industry.
He expressed delight that the acquisition of the modern tools and equipment afforded the company’s engineers and technicians the opportunity to develop requisite skills and competence to handle various jobs, thereby enhancing engineering capabilities within the country.
