GE would further inject another $250 million to make Nigeria a regional hub for GE products and services, including equipment for oil and gas exploration, Angbazo added. On the financial outlay of the GE Oil and Gas in Nigeria, GE is likely to spend over a billion dollars on the Calabar project, among other projects, over the next five years.
GE has recently become a big player in the Nigerian power sector, with its latest leap into oil and gas. The company is now into the refurbishment of the Christmas Trees subsea production equipment at its Onne, Port Harcourt, Rivers State site, which occupies over 3,500 sq. meters of land with standard equipment installed. GE has another facility in the pipeline in Calabar, Cross River State.
Being established in collaboration with Calabar Tech, GE Oil and Gas officials said the Calabar site will lay the foundation for knowledge and technology transfer to Nigerian sub-suppliers and academic institutions. The project is likely to take off next year (2016). The company has signed an MoU with Calabar Tech with commitment to invest in capacity/capability build. GE is investing $2million to support building upgrade, curriculum development, teacher training and equipment upgrade.
While the Onne site refurbishes subsea production equipment, the Calabar facility will manufacture. The manufacturing facility will create more opportunities for Nigeria and is expected to create 250 direct jobs and 2,000 indirect operations.