Oil & Gas Sector Poised For Growth As Local Content Drive Gains Momentum

Following the Presidential directive to increase local participation in the oil and gas sector, stakeholders are working tirelessly to boost production.

The Petroleum Technology Association of Nigeria (PETAN) is collaborating with indigenous companies to leverage the 2010 Local Content Law.

As part of this effort, PETAN has embarked on a nationwide facility tour to assess members’ capacity.

Recently, they visited SOLEWANT Group, a Rivers State-based pipe coating and fabrication company, to explore opportunities for growth and development.

This synergy aims to deliver services previously outsourced to foreign companies, build capacity, and enhance local content development, ultimately increasing petroleum product production and contributing to Nigeria’s economic growth.

Speaking after the facility tour at Solewant Development Plaint in Alode, Eleme Council of Rivers State at the Weekend, the National Chairman of PETAN, Engr. Wole Ogunsanya emphasized the organization’s dedication to promoting local content development and utilization and commitment to driving the enforcement of the Nigerian Content Development Act in the oil and gas industry.

Ogunsanya highlighted PETAN’s efforts to showcase Nigeria’s capacity in the oil and gas industry, extending beyond national borders to the sub-Saharan Africa region.

He praised Solewant, a strong organization within PETAN, for building capacity and expertise through industry veterans and funding from Nigerian banks.

Ogunsanya stressed that PETAN has consistently advocated for local content development, even before the law’s enactment adding that with the law now in place, PETAN is at the forefront of ensuring compliance.

He assured PETAN members and Solewant of continued advocacy for local content utilization, ensuring Nigerian capacity is harnessed.

“The local content law is not just a regulation; it’s a catalyst for economic growth. We must enforce it to benefit Nigerians.

“We are driving that law. We are advocating and showcasing capacity, that is the reason why we are here to let the whole world know that this capacity exists in Nigeria and not even stopping in Nigeria, we are looking at the sub-Sahara African countries” said Ogunsanya.

Early, the Group Chief Executive Officer (GCEO) of SOLEWANT Group, Solomon Ewanahi, said the company is taking bold steps to support the government’s efforts.

According to him, the company aims to reduce the number of trucks on the road by utilizing pipelines, thereby decreasing congestion and promoting efficient transportation of products.

Ewanahi noted that the company, a renowned pipe coating and fabrication company, has been providing top-notch services for 15 years, catering to the oil and gas, water, chemical processing, mining, refining, electricity, transportation, and marine industries.

He added that with its expertise in fitting and coating services along the Trans Niger Pipeline right of way, the company is well-positioned to support the government’s directive.

Be further stated that by supporting the government’s directive, the company is contributing to Nigeria’s economic growth and development, emphasizing that the move is expected to create employment opportunities, encourage local knowledge transfer, and increase participation in the oil and gas sector.