Oil firm Commends FG on Encouraging Local Content

Managing Director, Gic Oil and Gas in Port Harcourt, Rivers, Mr Godwin Ebolo, has praised the Federal Government’s effort at supporting local content development in the oil sector.

Ebolo said in Port Harcourt on Wednesday that the local content law had made indigenous companies to be part of the nation’s oil industry.

``Well, actually in oil and gas right now, the current minister of petroleum has done a lot to favour the indigenous company.

``She is giving opportunity to indigenous oil and gas companies to have their own goodwill in the oil production capacity in Nigeria. The local companies are now playing major role both the downstream and upstream in oil and gas sector.

``For example, at the downstream, you will find out that, she have been able to give a lot of opportunities to major gas stream in Nigeria; local companies are now involved in this crude lifting.

``You will agree with me that she has been able to make some good laws whereby most of the major projects that been done are being able to put in order. A lot of it are to be carried out here in Nigeria; for example, project executions have to be done here in Nigeria.``

The director, however, commended the National Assembly for working on the Petroleum Industry Bill (PIB) and urged the lawmakers to speed up its passage into law.

Ebolo expressed optimism that the bill would address major issues militating against the development of the oil industry, when passed into law.