The Oil and Gas Free Zone Authority (OGFZA) has expressed satisfaction with the level of work done so far at the site of the Brass Fertilizer and Petrochemicals Company Limited located at Odioama, Brass Island, Bayelsa State, Nigeria.
The OGFZA has also assured the Nigeria’s government’s readiness to continue to create the enabling environment for the inflow of foreign direct investment to the country through the successful operation of the newly established free trade zone.
General Manager, Operations and Technical Services, OGFZA, Mr. Adekunle Ajayi stated this when the Board and management of authority visited the project site recently as part of the administration and management of zones under its mandate and to have a spot assessment of operators within the zone. Ajayi , who led the team remarked that based on the provisions of the enabling Act, the expectation of the federal government was that operators within the zone were under obligation to commence business in earnest.
While assessing parts of the 595- hectare project site under clearing and preparation, the team inquired on the source of gas supply and whether the Gas Supply Agreement with the Shell Petroleum Development Company had been signed among others.
Responding, the Community Relations Advisor, Brass Fertilizer & Petrochemicals Company Limited, Mr. Fafa Stephen-Gow, said the company continued to enjoy a good working relationship with the Odioma community who have been offered 1.5% equity interest in the project. He further emphasized that the site was designed to accommodate a Urea plant, a Methanol plant, a power plant, a residential complex, an export jetty, typical road/ access networks and ample buffer zone and that gas for the project would be sourced from Shell and the nearest of the secured five gas fields about 40 nautical kilometers away from the Shell Nembe Creek.
Alazigha, who is a global investment banker, financial engineer and asset manager, remarked that the establishment of the zone would catalyze development in not only the state but the entire West Africa sub-region, considering the unique package of incentives and strategic advantages available to investors in the zone.