Open HSI menu
Subscribe Login

Home / Articles and Press Releases / Article / Nigerian Oil and Gas Industry

CATEGORIES

  • Latest Issue
  • Above The Neck Protection
  • Chemical Protection
  • Confined Space
  • Construction
  • Emergency Procedures
  • Energy, Oil and Mining Industries
  • Eye Protection
  • Fall Protection
  • Gas Detection
  • Hand Protection
  • Hazardous and Explosive Atmospheres
  • Health and Safety Awareness
  • Hearing Protection
  • Heat and Flame
  • Lighting and ATEX
  • Noise Monitoring
  • Personal Protective Equipment
  • Respiratory Protection
  • Safety Footwear
  • Safety Technology
  • Safety Training
  • Slips, Trips and Falls
  • Wellbeing at Work
  • Working at Height
  • Working Rights

MORE

  • Press Releases
  • Events
  • Videos
  • Webinars
  • Magazines

COMPANY

  • About
  • Advertising
  • Newsletter
  • Contact
Open HSI menu
Subscribe

Home / Articles and Press Releases / Article / Nigerian Oil and Gas Industry

CATEGORIES

  • Latest Issue
  • Above The Neck Protection
  • Chemical Protection
  • Confined Space
  • Construction
  • Emergency Procedures
  • Energy, Oil and Mining Industries
  • Eye Protection
  • Fall Protection
  • Gas Detection
  • Hand Protection
  • Hazardous and Explosive Atmospheres
  • Health and Safety Awareness
  • Hearing Protection
  • Heat and Flame
  • Lighting and ATEX
  • Noise Monitoring
  • Personal Protective Equipment
  • Respiratory Protection
  • Safety Footwear
  • Safety Technology
  • Safety Training
  • Slips, Trips and Falls
  • Wellbeing at Work
  • Working at Height
  • Working Rights

MORE

  • Press Releases
  • Events
  • Videos
  • Webinars
  • Magazines

COMPANY

  • About
  • Advertising
  • Newsletter
  • Contact

CATEGORIES

  • Article
  • Press Release
  • Above The Neck Protection
  • Chemical Protection
  • Confined Space
  • Construction
  • Emergency Procedures
  • Energy, Oil and Mining Industries
  • Eye Protection
  • Fall Protection
  • Gas Detection
  • Hand Protection
  • Hazardous and Explosive Atmospheres
  • Health and Safety Awareness
  • Hearing Protection
  • Heat and Flame
  • Lighting and ATEX
  • Noise Monitoring
  • Personal Protective Equipment
  • Respiratory Protection
  • Safety Footwear
  • Safety Technology
  • Safety Training
  • Slips, Trips and Falls
  • Wellbeing at Work
  • White Papers
  • Working at Height
  • Working Rights

Article

Nigerian Oil and Gas Industry

Published: August 10th, 2015

Share this article

The profile of the Nigerian oil and gas industry is going through greater transformation than seen in previous decades.

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr Denzil Amagbe Kentebe, meets Shell, Statoil, Oando Energy Resources and GE oil and gas to discuss Nigerian content and wealth creation.

Over the last five years, the Nigerian Oil and Gas Industry Content Development Act (NOGICDA) has arguably been the single most impactful piece of legislation for the Nigerian oil and gas industry since the Petroleum Act of 1969. The NOGICDA prescribes that indigenous operators be given first consideration in the awarding of contracts and licences, first consideration for training and employment opportunities and preference must be given to domestically manufactured goods.

At a time of shifting global energy markets, oil price at its lowest since February 2009 and the high operating costs, the implementation of Nigerian Content is all the more crucial for wealth creation and capital retention for the sustenance and growth of the Nigerian economy. The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr Denzil Amagbe Kentebe, who will be addressing the oil and gas industry in October at the Practical Nigerian Content Forum (PNC) in Yenagoa noted:

“The profile of the Nigerian oil and gas industry has gone through greater transformation than seen in previous decades; there are more indigenous players in the industry than ever before, a wider pool of skilled Nigerian professionals and indigenous asset ownership has increased steadily as has the domiciliation of manufacturing and fabrication.”

And indeed the enactment of the NOGICDA added impetus to the local capacity development initiatives some of the multinationals were already undertaking and galvanised others to work towards compliance. In just one year Shell Producing Companies in Nigeria awarded $2.4bn worth of contracts to indigenous companies and Total launched the TOTAL Supplier’s Financing Scheme worth $7.5bl to be made available through Nigerian banks to bridge the gap between local vendors/suppliers and financial institutions.

Indigenous operators have also emerged as key players as a new dawn has broken for the Nigerian oil and gas industry. Divestment of onshore assets by the likes of ENI, Chevron and Exxon spurred by the NOGICDA and the incessant pipeline vandalism and oil theft, provided the opportunity for indigenous producers and service providers to rise to the occasion and in no small measure; uring Q2 of 2014, Nigerian firms Taleveras and Aiteo placed the highest bid for Shell’s OML 29 at $2.85bl. In the same year, Oando Energy Resources completed its landmark acquisition of ConocoPhillips’ onshore and offshore businesses in Nigeria for $1.5 bn.

By the third quarter of 2014, it was recoded that $5 billion was contributed to the country’s revenue as a result of the NOGICDA. It was also noted that Nigerian Content in the Nigerian oil and gas industry grew from around 5% to 18%, 89.2% of marine vessels were either built in Nigeria or owned by Nigerians and domestic fabrication facilities had increased by 40%.

Mr Kentebe will be summarising the progress of Nigerian Content and discussing solutions to challenges that remain at the upcoming Practical Nigerian Content Forum, taking place from 20-22 October in Yenagoa.  Government representatives including senior management from NCDMB and PTDF and industry players including Oando Energy Resources, Shell Petroleum Development Company of Nigeria, Bell Oil & Gas, Statoil, Marine Platforms, Platform Petroleum, will convene at the Forum to discuss plans to ensure Nigerian Content growth and in country wealth retention for the next three to five years.

Hosted by Orleans Invest, Forum participants will also visit the Onne Oil and Gas Free Zone – the only free zone in the world dedicated exclusively to the oil and gas industry, to witness Nigerian Content in action. Facilities to be visited include those of; GE Oil & Gas, Tenaris, West Atlantic Shipyard, WAMS Machinery and Services and Deep Offshore Services amongst others.

“I look forward to welcoming all stakeholders across the oil and gas industry for what will be a very productive and enjoyable meeting,” Denzil Amagbe Kentebe, Executive Secretary, Nigerian Content Development and Monitoring Board.

Distributed by APO (African Press Organization) on behalf of CWC Group Limited.

Published: 08-10-15

Share this article

Get email updates

Sign up for the HSI newsletter

Keep up-to-date through the power of email with Europe's largest audited safety magazine - delivering the latest news and products to satisfy all your occupational safety needs.
  • This field is for validation purposes and should be left unchanged.

FEATURED ARTICLES

Article

 Thameslink Traffic Management Programme

Press Release

‘Working At Height’ Remains Biggest Danger

Press Release

“Uncertainty and Ignorance” Risks More Asbestos Deaths

Advertisement

SOCIAL MEDIA

HSI on Facebook

https://www.facebook.com/HSIMagazine/

Advertisement

SOCIAL MEDIA

HSI on Twitter

hsimagazine HSI Magazine @hsimagazine ·
25 Jan

Global gas sensing leader @ionscience has today formally announced the addition of a high-specification Particulate Matter (PM) sensor to its portfolio.

Read all about this exciting addition!
https://www.hsimagazine.com/press-release/worlds-best-performing-particulate-matter-pm-sensor-now-available-from-ion-science-ltd/

#hsimagazine #ionscience #particulatematter

Reply on Twitter 1618280038557970432 Retweet on Twitter 1618280038557970432 Like on Twitter 1618280038557970432 Twitter 1618280038557970432

Advertisement

SUBSCRIBE

Stay up to date with our newsletter

    • Keep up-to-date with Europe’s largest audited safety magazine

 

    • Delivering the latest news and products to satisfy all your occupational safety needs

 

This field is for validation purposes and should be left unchanged.

Subscribe

SUBSCRIBE TO HSI MAGAZINE

5 reasons to subscribe to our digital and print package

  • Stay up to date from anywhere in the world, with instant access to the latest issue straight from your phone, tablet or laptop.
  • Trust that you’re getting the best content from our range of internationally accredited authors.
  • Get full access to our archives and see how occupational safety has evolved with us over the years.
  • Enjoy our monthly newsletter curated with up-to-the-minute news and a selection of editor’s top picks.
  • Hot off the press and straight to your door – look forward to your own glossy copy of HSI, delivered five times a year
Subscribe View Subscription levels

STAY SAFE & INFORMED

Subscribe to the best health & safety articles, news, products and regulations

Find out more

Stay up to date with our newsletter

  • This field is for validation purposes and should be left unchanged.

ABOUT

  • About HSI International
  • Advertise
  • Contact Us

YOUR ACCOUNT

Sign In Register Account Subscribe to HSI

RESOURCES

Request Media Pack

CONNECT

ACCREDITATIONS

Copyright Bay Publishing 2023. All Rights reserved.

Designed & Built by:
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT