Yemisi Izuora

Petroleum Technology Association of Nigeria (PETAN) has reaffirmed its commitment to Support the federal government’’s effort to weed out ‘Middlemen Businesses’ ,as it advocates for local content in the nation’s oil production

PETAN Chairman and CEO, Geoplex Drillteq Limited , Engr. Wole Ogunsanya made the statement while speaking during a panel session where he was one of the discussants on the topic ‘Nigerian Content As A Business Enabler’ at the ongoing NOG Energy Week Conference & Exhibition

According to him the Nigerian Content has been a business enabler as it has enhanced local operators to offer services in the oil and gas industry that was hitherto offered by multinationals.

He noted “PETAN, which clocks 30 years in the oil and gas industry this year, is essentially, the sponsor of the local content law, and in contributing to shape that law, submitted the clause that in the case of divestments in oil and gas assets in Nigeria, Nigerian companies should have first consideration and we’re happy to see that these opportunities are birthing strategic collaborations by lowering barrier of entry for local operators, retaining millions of dollars’ worth of investment in-country, and building Nigerian brands that work in and beyond Africa”.

On ‘middlemen businesses’ that cast shadow on the competencies and integrity of Nigerian oil and gas operators, he expressed the readiness of PETAN to partner relevant stakeholders such as the NCDMB Online and Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to weed them out through the introduction of a PETAN’s seal of quality with an internationally recognised certification company to serve as an additional layer of authenticating those listed on the NCDMB’s NOGIC JQS portal and NUPRC’s National Data Repository”.