December 16, 2017

Conoil Bags ‘Best Company In Local Content’ Award | The Guardian Nigeria

conoil

THE 2015 edition of Oil & Gas Awards organised by Oval Energy and Business Day Newspapers was held at the Eko Hotels and Suits in Victoria Island on Thursday night, with indigenous oil producing company Conoil emerging ‘Best Company in Local Content’. Continental Oil & Gas, a sister company to Conoil, also won in the ‘Best Company in Corporate Social Responsibility (CSR)’ category. The organizers of the event, Oval Energy and Business Day Newspapers revealed that certain criteria was taken into consideration before nomination into the various categories, stating that Conoil Producing outclassed other nominees considered for the award. Conoil…

Total Sells Stake in OML 29 to Aiteo for $569m

Microsoft PowerPoint - Oil Blocks Divestment_31_08_2012.pptx [Re

This Day Total SA, Europe’s second-biggest oil company, has sold its stake in Nigerian Oil Mining Lease (OML) 29 to Aiteo Eastern E&P for $569 million as part of this year’s plan to speed up asset sales following the crash in crude prices. The sale brings proceeds to more than $1 billion when also taking into account OML 24 and OML 18 stake sales, the Paris-based company said in a statement. Since 2010, Total has divested interests in 11 onshore Nigerian blocks to local companies. “These transactions also reduce our exposure to non-operated blocks onshore Nigeria, and allow us to…

10th Annual Global Local Content Summit

GLCS 10th

Ministries and NOCs from Uganda, Ghana, Nigeria, Mozambique, Tanzania, Brazil, Argentina, Mexico, Trinidad and Tobago, Oman, Saudi Arabia, Kuwait and Sri Lanka are due to present their local content case studies at the 10th Annual Global Local Content Summit this September at the Pestana Chelsea Bridge Hotel, London, United Kingdom. World’s leading conference dedicated to the Local Content community to include speakers from 17 global nations and chairman from PROMINP. The conference, hosted by Oil & Gas IQ – a division of global events company IQPC – will be a unique opportunity for local content leaders to discuss the development,…

Example of Local Content at Work: LADOL

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Lagos Deep Offshore Logistics Base (LADOL) is a fully integrated base where offshore oil and gas drilling companies can get 24/7 logistics support for their vessels, cargo, personnel and projects. LADOL provides operators with the ultimate value in state-of-the-art facilities and logistics, and efficient engineering services – a ‘one-stop shop’ for clients to work, live, sleep and relax. It is the only deep offshore oil and gas logistics base in Lagos, and the largest privately financed logistics base in Nigeria. LADOL is the first and only facility of its kind in Lagos. It was created to ensure that the nation…

Local Content

local-content

The modernisation and expansion of Nigeria’s oil and gas industry provide a major opportunity for growth in the nation’s economy. But the administration of President Goodluck Jonathan has seen the potential beyond simply increasing financial and fiscal income for the government. With the passage into law in 2010 of the Nigerian Content Act to promote increased Nigerian involvement, both physical and human, in the petroleum industry, the government has set new guidelines to ensure real opportunity for home-grown talent and industry. Now overseas companies operating in the Nigerian oil and gas sector must source a stated proportion of their resources…