Financial Energy Review
The Petroleum Technology Association of Nigeria, PETAN, wants a review of in- contract awards on Shell’s Bonga North Project to indigenous Companies
Petan’s Chairman, Engr Wole Ogunsanya, made the Association’s position known in a keynote address at the on-going Sub-Saharan Africa International Conference and Exhibition (SAIPEC) in Lagos, with the theme ‘Building Africa’s Future: Advancing Local Content and Sustainable Development in the Oil & Gas Industry’.
Engr. Ogunsanya, who expressed optimism about several Final Investment Decisions (FID) recently signed in Nigeria, emphasised the vital role of indigenous companies.
“Our members have over three decades of experience in the oil and gas industry as technical and service providers,” Ogunsanya said.
He added: “We possess the expertise to manage major projects across the oil and gas value chain, including deepwater ventures in Nigeria and other African nations.”
Ogunsanya also noted that PETAN’s members are active in regions like India, the Middle East, and Africa, showcasing their broad capabilities.
“We are not asking for $3 billion but are requesting $1.5 billion in contract awards, about 25% of Shell’s Bonga North project,” Ogunsanya emphasised.
He stressed that PETAN’s focus on local content development aims to encourage cooperation between multinational companies and local firms, rather than discourage international partnerships.
“We collaborate with international service companies, creating shared value that benefits all parties,” he affirmed.
The Petan Chairman emphasised the importance of increasing indigenous companies’ involvement in Africa’s oil and gas projects, ensuring value stays within the continent.
Ogunsanya also commended the Nigerian Content Development and Monitoring Board (NCDMB) for its continuous support in building local capacity.
“We have strengthened our capacity with the invaluable support of the NCDMB,” he concluded.
