In line with the Nigerian Content Act, which encourages the development of indigenous capacity in the oil and gas industry, an indigenous firm CB Geophysical Solutions (CBGS) Limited has embarked on capacity development, opening an ultra-modern complex to remain competitive for award of contracts.
Speaking at the recent inauguration of the complex in Port Harcourt, Rivers State, the Chairman and Chief Executive Officer of the company, Mr. Bank Anthony Okoroafor, said his company embarked on building more capacity and growing the economy through the creation of several entrepreneurs in the country.
He stated that the new ultra-modern complex was a one- stop- shop with a capacity to carry out all kinds of geological, geophysical, reservoir and asset management services of international standard.
According to him, this was made possible through the acquisition of the right equipment and personnel.
He lauded the Nigerian National Petroleum Corporation (NNPC); Shell Petroleum Development Company (SPDC); Total, Addax Petroleum and the Department of Petroleum Resources (DPR) for their supportive role to the company.
In his remarks, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Ernest Nwapa also lauded the giant strides of CB Geophysical Solutions in building the edifice.
Nwapa, who was represented by Mr. Tunde Adelana noted that CBGS had proved that the Nigerian Content Act was working in Nigeria and urged other stakeholders in the oil and gas industry to support CBGS.
Also speaking, the chairman of the Petroleum Technology Association of Nigeria (PETAN), Mr. Emeka Eneh, charged oil industry stakeholders at the event to look beyond the physical structure of the building, stressing that CBGS has built capacity for the industry.
The Group Managing Director of the NNPC Mr. Andrew Yakubu, who was represented by Mr. Ben Abaka, said with the edifice, CBGS had deepened local content in Nigeria and called on the company to work closely with the National Petroleum Investment Management Services (NAPIMS), a subsidiary of the NNPC for maximum productivity.
The Director of DPR, Mr. George Osahon, who was represented by Mr. Taiwo Razak Abiodun, assured the company of the agency's support to enable it sustain its services in the country.
CB Geophysical solutions is built on leading edge proprietary software and technology in seismic acquisition and processing, stratigraphic and structural interpretation, integrated reservoir characterisation, geologic model and reservoir simulation, coupled with its highly experienced and innovative work force, advanced hardware and data processing capabilities.