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DPR right in revoking, handing over of Addax four OMLs to Kaztech/Slavic Consortium - Abbe

DPR right in revoking, handing over of Addax four OMLs to Kaztech/Slavic Consortium - Abbe
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Snake Island: FG receives report on idle fabrication yard

By Edith Ike-Eboh
Abuja, April 7, 2021 The Federal Government has formally received the report from committee on compensatory contracts and others incentives for KAZTEC Engineering Ltd.
Kaztec Engineering Limited is a subsidiary of Chrome Group, an indigenous engineering and fabrication company owned by Chief Emeka Offor.
The Company’s Fabrication yard on Snake Island, which houses Badagry Creek Industrial Park Free Trade Zone, licensed in 2014 was grounded in March 2015 when Addax Petroleum had tax issues with the Federal Government.
The grounding of the company also led to abrupt halt of the platform construction for oil production from Antan and Ofrima/Udele fields and unpaid salaries to workers, contractors, and vendors. ....

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Breaking News | Oil/Gas: Nigeria loses billions of Naira as dockyards capacity drops to 15% — Investigation

By Udeme Akpan
There are indications that the capacity utilisation of oil and gas dockyards in Nigeria has dropped to 15 per cent as a result of relatively low oil prices in the global oil market.
This appears to be very significant, when the over 60 per cent capacity utilisation of the dockyards in 2014 is considered.
The oil and gas dockyards, including Niger Dock, Dormanlong, Kaztec Engineering, were established at various times to provide fabrication and other services to oil and gas companies, thus conserving foreign exchange, building indigenous capacity as well as promoting technological advancement in the nation.
In an interview with Vanguard, Monday, Chairman, Petroleum Technology Association of Nigeria (PETAN), Mr. Nicholas Odinuwe, who confirmed the drop in capacity utilisation, said: “The capacity utilisation of the dockyards has dropped to about 15 per cent in the past few years, due mainly to low oil prices, drop in foreign exchange generation, revi ....

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Oil/Gas: Nigeria loses billions of Naira as dockyards capacity drops to 15% — Investigation

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Oil/Gas: Nigeria loses billions of Naira as dockyards capacity drops to 15% Investigation
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By Udeme Akpan
There are indications that the capacity utilisation of oil and gas dockyards in Nigeria has dropped to 15 per cent as a result of relatively low oil prices in the global oil market.
This appears to be very significant, when the over 60 per cent capacity utilisation of the dockyards in 2014 is considered.
The oil and gas dockyards, including Niger Dock, Dormanlong, Kaztec Engineering, were established at various times to provide fabrication and other services to oil and gas companies, thus conserving foreign exchange, building indigenous capacity as well as promoting technological advancement in the nation. ....

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