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The Nigeria National Petroleum Company (NNPL) Limited, Akwa Ibom government, and Solutions Hub Limited, have signed a deal to establish a fully integrated, deepwater logistics shore base in the state.

NNPCL disclosed this in a series of tweets on Sunday.

According to the tweet, Udom Emmanuel, Akwa Ibom governor, the leadership of NNPC, and Solution Hub Limited, signed the shareholder’s agreement of Ibom Solution Hub Limited on Saturday in Uyo, the state capital.

Based on the agreement, the NNPC is to have 30 percent of the ownership, Akwa Ibom, 20 percent, while Ibom Solutions Hub has 50 percent.

“Ibom Solution Hub Limited, a partnership of Nigerian National Petroleum Company (NNPC) Ltd – 30 percent, Solutions Hub Ltd – 50 percent, and Akwa Ibom state government – 20 percent is a fully integrated, real deepwater logistics services base project that will offer offshore construction and logistics services to the eastern flank of Nigeria, the West and Central African region,” the tweet reads.

“The logistics base, proposed to be sited on a 40sq kms space in Ibaka, Mbo LGA, within the already designated FTZ in A/Ibom state, is modeled to be an alternative to existing logistics bases in Nigeria to offer offshore construction support to West and Central African regions.”

PRESS RELEASE #NNPC, AKWA IBOM, SOLUTIONS HUB LTD SIGN DEAL ON MARINE LOGISTICS HUB*

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1. The @nnpclimited, Akwa Ibom State Government and Solutions Hub Limited have sealed a deal to establish a fully integrated, deepwater logistics shore base in the State. pic.twitter.com/aNIpzsw9JS

— NNPC Limited (@nnpclimited) October 30, 2022

Speaking at the signing event, Emmanuel thanked NNPC Ltd. and Solution Hub for their thoughtfulness in choosing to partner with Akwa Ibom state, thereby making the project a reality.

He reassured investors of the hospitality of the state and solicited for more projects that will provide employment and development opportunities for indigenes.

Also speaking, Mele Kyari, the group chief executive officer, NNPC, represented by Adokiye Tombomieye, executive vice-president, Upstream, described the project as a game-changer, not just for the oil and gas industry, but for the nation’s economy.

On her part, Margery Chuba-Okadigbo, NNPC’s board chairman, who stated that oil firm was working with all relevant government agencies to deliver on the world class facility, invited more partners to collaborate with the new NNPC in order to secure their right to play in Africa’s largest market by partnering with its largest energy company.

The event was attended by dignitaries such as Lami Ahmed, board member NNPC; Kamoru Busari, Ag. perm secretary, petroleum ministry; Simbi Wabote, executive secretary, Nigerian Content Development and Monitoring Board (NCDMB); Bala Wunti, chief investment officer, NNPC Upstream Investment Management Services Ltd (NUIMS); and Emmanuel Ekuwem, secretary to the state government, Akwa Ibom.