The Petroleum Technology Development Fund (PTDF) has approved the proposal made by former President Shehu Shagari for the construction and building of Oil and Gas Museum in Oloibiri, Bayelsa State. Based on this, Federal Executive Council (FEC) is expected to give final approval for the release of funds for the take off of the project.
In a letter by the Director General of the Bureau of Public Procurement (BPP), Mr. Emeka Eze to the Director General of the PTDF, the Due Process office reduced the price quotations for the construction of the Oil and Gas Museum from N36,315 billion to N33,949 billion. It also approved the award of the contract to seven contracting firms.
The cost estimates is to cover the following areas for the Oil and Gas Museum; Research Centre, International Conference Centre, Sand Filling and Civil Works, External Maintenance, External Electrical Works, Site Clearance, Geotechnical Survey and Fencing. Seven oil and gas companies bided and won the contract for the constructing and building of the Oloibiri Oil and Gas Museum.
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.