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 was commended by the Nigerian Content Development and Monitoring Board “for championing local content promotion in the oil and gas industry.”
According to the statement, the company was honoured as the downstream operating company with the most impactful local content development initiatives at the 2019 Nigerian Oil and Gas Opportunity Fair in Yenagoa, Bayelsa State, which was graced by the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, and Bayelsa State Governor, Seriake Dickson.
Commenting on the recognition, the Chief Executive Officer, Pinnacle Oil and Gas, Mr Peter Mbah, noted that the award was a confirmation of its confidence and continuous investments in the Nigerian economy.
According to the statement, the company developed and constructed a world-class petroleum products-handling facility at the Lekki Free Trade Zone in Lagos.
It said, “Pinnacle Oil and Gas was, among others, recognised by the NOGOF for this facility, which would comprise a 600,000MT tank farm for storage on the shore, connected to single point mooring and conventional buoy mooring facilities.
“The SPM/CBM facilities, which Pinnacle Oil and Gas has pioneered in Nigeria, are infrastructure for the offshore offloading of large vessels without any need for them to come to shore or use a jetty.
“The detailed Nigerian content opportunities for which Pinnacle was recognised are hands-on training in the assembly of SPM and CBM; hands-on training for welding and fabrication works; tank farm erection; instrumentation installation; subcontracts, security, insurance and financial services.”