Oil and Gas Museum in Oloibiri, Bayelsa State
The Federal Executive Council (FEC) is expected to give final approval for the release of funds for the take off of the project according to newsreports.
Following the Petroleum Technology Development Fund (PTDF) approval of the project.
The Oil and Gas Museum is aimed at generating revenue by ensuring that the funds earmarked for overseas training for oil and other allied workers and other necessary conferences take place in Nigeria, while at the same time ensure the sustainable development of the eco-system of Oloibiri, where oil was first struck in 1956 by the Dutch Oil giant, Shell Petroleum Development Company.
The estimated cost is put at N33,949 billion. Seven oil and gas companies have already been awarded the contract for the construction.
The cost estimates is to cover a Research Centre, International Conference Centre, Sand Filling and Civil Works, External Maintenance, External Electrical Works, Site Clearance, Geotechnical Survey and Fencing.
The Director General of BPP directed that efforts be hastened towards the construction of the Museum by ensuring that the contractors that passed the bidding processes submit valid Performance Bonds issued from reputable banks as a pre-condition for the final award of the contracts in order to ensure successful completion of the museum on time.