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Senate committee on local content tours oil companies in Rivers

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Image result for Senate committee on local content tours oil companies in RiversThe National Assembly has frowned at the level of participation by Nigerians in the operation of international oil companies in the country. Senate Committee on Local Content made this observation during a fact-finding visit to some of these companies in Rivers state.

Correspondent Uche Okoro reports that the Local Content Act, passed into law in 2010, is targeted at promoting
Nigerian participation in the oil and gas industry.

Participation in the execution of contracts, job opportunities and ownership but the Senate is worried that since 2010, compliance level still stands at around 28 percent.

Therefore its Local Content committee is visiting Rivers State, a major oil and gas hub, as part of its oversight function to see how things can improve.

Some of the companies visited include Halliburton Energy Services Nigeria Limited in Port Harcourt and TechnipFMC in Onne.

The Committee also visited Saipem Contracting Nigeria Limited in Port Harcourt

It is the hope of the committee that Nigeria would have achieved 70 percent compliance to the local content act within the next 10 years.

 

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