Local Content

Pinnacle Oil looks to deepen investment in local content

Apr 26, 2019

Pinnacle Oil and Gas Limited says it has intensified its investment in the Nigerian oil and gas industry as well as efforts to deepen local content. The company said in a statement that it had been formally recognised by the Nigerian government for its contribution to local content development in the industry. It said it…

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Oil service firm sues NCDMB, ExxonMobil over local content breaches

Apr 24, 2019

An indigenous oil servicing company in Akwa Ibom State, The Pioneer Divers Int’l Limited, has dragged the Nigeria Content Development and Monitoring Board to court for alleged breach of local content laws. In a suit number HEK/96/2019, filed before the Akwa Ibom State High Court in Eket, the plaintiff, Divers International Limited, through its lead…

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Shell emerges most impactful local content company in Nigeria

Apr 8, 2019

Shell Companies in Nigeria have emerged the International Oil Company with the most impactful Local Content Initiatives in the upstream category at the 2019 edition of the Nigerian Oil and Gas Opportunity Fair (NOGOF) held recently in Yenagoa, Bayelsa State. Shell beat other competitors ,Total and Exxon Mobil to the second and third positions, respectively…

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NCDMB to drive policies for modular refineries in Nigeria

Apr 8, 2019

The Nigerian Content Development and Monitoring Board (NCDMB) has restated its commitment to further drive the policies that will encourage modular refineries in Nigeria as one of the measures to support local manufacturers in the oil and gas sector in the country. The Executive Secretary of NCDMB, Engr. Simbi Wabote, stated this during the opening…

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NCDMB offers $100m oil & gas investment opportunities to local oil firms

Apr 7, 2019

The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB) Mr Simbi Wabote, has offered about eighty potential projects with net value of some $100 million to indigenous oil firms in the next two years. Wabote made this disclosure in Yenagoa, yesterday during his remarks at the opening ceremony of the 2019, Nigerian Oil And…

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FG, IOCS, indigenous oil firms create $102bn opportunities for investment in oil sector

Apr 5, 2019

The Federal Government, International Oil Companies, IOCs and indigenous companies, have created investment opportunities worth $102 billion for investors in Nigeria’s oil and gas industry. In a document obtained by Vanguard, in Yenogoa, Bayelsa State, yesterday, the Nigerian Content Development and Monitoring Board, NCDMB, disclosed that the future of the industry was bright, especially as…

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NLNG may incur N1bn fine for local content infringement

Mar 26, 2019

The Nigeria Liquefied Natural Gas Limited (NLNG) may incur a fine of about N1 billion for failure to comply with the Nigerian Local Content Policy. A Niger Delta- based company, Macobarb International Ltd, while disclosing disclosed this on Tuesday, alleging the NLNG had maliciously and fraudulently terminated its contract. Macobarb’s Managing Director, Mr. Ogboru Shedrack,…

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Shell increases contractor support fund to $2.4bn

Mar 25, 2019

The Shell Petroleum Development Company of Nigeria Limited (SPDC) has boosted its contractor support fund with $200 million in a latest effort to enhance the financial capacity of vendors and suppliers in Nigeria’s oil and gas industry. This latest move brings the fund size to $2.4 billion. SPDC’s Director and General Manager, Government and Business…

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NCDMB, NLNG sign $1bn Train 7 project Nigerian content plan

Mar 22, 2019

The Nigerian Content Development and Monitoring Board (NCDMB) and the Nigeria Liquefied Natural Gas, NLNG, will today in Abuja sign the Nigerian Content Plan (NCP) for NLNG’s Train 7 project, estimated to cost $1 billion. Executive secretary of NCDMB, Engr. Simbi Kesiye Wabote and the managing director of NLNG, Engr. Tony Attah met at the…

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Samsung has transformed Nigeria into FPSO construction hub – NCDMB

Mar 18, 2019

The Nigerian Content Development and Monitoring Board (NCDMB) has declared that Korean shipbuilding giant, Samsung Heavy Industries (SHI) has transformed Nigeria into a hub for fabrication and integration of Floating Production Storage Offloading (FPSO) unit in Africa. Speaking to journalists in Lagos on the local content milestones in Nigeria’s oil and gas industry, the Executive…

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