Business

Shell Unveils Plan to Increase Local Participation in Oil and Gas.

Keep up with the latest news and be part of our weekly giveaways and airtime sharing; follow our WhatsApp channel for more updates. Click to Follow us

Shell has identified strategic partnerships, capacity building, and adherence to regulations as key enablers for boosting local content in Nigeria’s oil and gas industry. This was disclosed by Olanrewaju Olawuyi, General Manager, Nigeria Content Development of Shell Petroleum Development Company of Nigeria Limited (SPDC), at the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) in Lagos.

To achieve this goal, Olawuyi emphasised the importance of encouraging indigenous companies to form partnerships to deliver major work scopes. “By awarding contracts worth $1.98 billion to Nigerian businesses in 2023, Shell has bolstered the capabilities of local firms, enabling them to become regional contractors,” he said.

In addition to partnerships, Olawuyi highlighted the need to improve the expertise of local companies through training and the provision of resources. He cited examples of Shell’s initiatives, such as the Nigerian diving school, domestication of 3D printing technology, and research work to develop synthetic base fluid for drilling. “These are among many efforts to develop the capacity of suppliers,” he added.

Olawuyi also stressed the importance of compliance with local content policies, which has helped ensure Shell’s operations benefit the local economy while fostering trust and collaboration with host communities.

Looking ahead, Olawuyi noted that the local content landscape is evolving. “Shell has learnt that the local content race is not a sprint but a marathon, and it makes a lot of business sense and creates value long-term,” he said. “As the energy sector evolves, local content strategies will shift from simple compliance to value-driven partnerships, technology adoption, and sustainable economic impact. Companies that invest in innovation, digital transformation, and workforce development will lead in shaping the next phase of local content growth.

Please don’t forget to “allow the notification” so you will be the first to get our gist when we publish it. 
Drop your comment in the section below, and don’t forget to share the post.

Wisdom Engraced

Recent Posts

Obi Challenges Tinubu, Says One Thing Must Change Immediately

Keep up with the latest news and be part of our weekly giveaways and airtime…

1 day ago

Fresh Fear as New Incident Rocks Major South-East Highway

Keep up with the latest news and be part of our weekly giveaways and airtime…

1 day ago

Peter Okoye Sparks Fresh Controversy With Remark About Nigerian Languages

Keep up with the latest news and be part of our weekly giveaways and airtime…

1 day ago

OPay Unveils Major Update as Students Battle for Millions in Rewards

Keep up with the latest news and be part of our weekly giveaways and airtime…

1 day ago

2027: Rufai Oseni Questions Peter Obi’s Plans After High-Profile Interview

Keep up with the latest news and be part of our weekly giveaways and airtime…

1 day ago

Fresh Security Scare Hits Osun as Gunmen Disrupt Sensitive INEC Operation

Keep up with the latest news and be part of our weekly giveaways and airtime…

1 day ago