The Nigerian Content Development and Monitoring Board has said the oil and gas park being developed at Emeyal 1, Bayelsa State, will be completed in the fourth quarter of 2022.

The Executive Secretary, NCDMB, Mr Simbi Wabote, disclosed this after inspecting construction work at the project site in company with senior management of the board on Wednesday, according to a statement issued by the board.

The NCDMB said the park would create a low-cost manufacturing hub that would produce equipment components and spare parts to be utilised in the nation’s oil and gas industry.

It noted that the project started with a groundbreaking ceremony on April 27, 2018, adding that it had reached about 68 per cent completion, with four major structures nearly completed, while foundation work was starting on some buildings and parts of the project.

Wabote said, “We still have a long way to go because most of the buildings are getting to the finishing stages while some are just starting. We believe that we will complete this project by Q4, 2022.”

He said the facility would stimulate the manufacturing of oil and gas components in-country and put an end to the sector’s dependence on importation for most of its finished products.

He said to tackle the challenge of electricity at this site, a 10-megawatts gas plant was built.