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Snake Island: FG receives report on idle fabrication yard

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By Edith Ike-Eboh

The Federal Government has officially received the report of the Committee on Compensatory Contracts and Other Incentives for KAZTEC Engineering Ltd.

KAZTEC Engineering Limited is a subsidiary of Chrome Group, a local engineering and manufacturing company owned by Chief Emeka Offor.

The company’s manufacturing site on Snake Island, home to the Badagry Creek Industrial Park Free Trade Zone, cleared in 2014, was blocked in March 2015 when Addax Petroleum had tax problems with the federal government .

The grounding of the company also led to the abrupt halt of the construction of the platform for the production of oil from the fields of Yesteryear and of Ofrima / Udele and the unpaid wages of workers, contractors and providers.

Receiving the report in Abuja on Wednesday, the Minister of State for Petroleum Resources, Chief Timipre Sylva, commended the committee for the extensive work done with the report.

“You were carefully chosen to sit on this committee after the chair asked me to look into this issue and make recommendations.

“So I looked for the best brains to look into the matter and you haven’t disappointed us. I have to say you did a great job; we at the petroleum ministry are here as independent arbitrators to ensure justice in the petroleum industry.

“Justice for our investors and justice also for Nigeria. I am glad you did a great job, we will review your report and ensure that your recommendations are conveyed to the President and implemented, ” he said.

Previously, Senator Magnus Abbe, chair of the committee, congratulated the chair on the privilege of working in committee to help revive the earth-made court for the nation’s economic growth.

He said the Committee had already submitted an interim report which had enabled Nigerians to understand the situation on the ground.

“It is important that Nigerians realize the magnitude of what happened to this project, it was a project which was to extract over 19 million barrels of crude from our existing reserve and which would have added to our daily production.

“After the project was awarded and everything in place, contracts awarded and nearly $ 1 billion invested, Addax Petroleum called Force Majeure on matters unrelated to the current project.

“This action has put more than 3,000 Nigerians out of work, invested millions of dollars that the country would have used for other things at risk,” he said.

He added that the committee had carefully analyzed the deplorable situation observed on the ground at the site and the negative effect it had on the indigenous business and the Nigerian economy.

“Not only have the workers been affected, but a lot of things that would have been done in the country that would be useful in other projects will be paid again.

“In the interim report that we presented, these issues were well addressed, today we are here to officially present the report and say that the committee members were competent and from a reputable organization,” a- he declared.

He said the committee had done a thorough job looking at all the circumstances in the matter, adding that it had no right to blame the situation but to advise the president on what legally permissible measures could be taken to save. the situation and help. the Nigerian economy. (NOPE)

(NAN)

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