Nigerian oil producers are in discussions with Shell to secure up to 25% of the service contracts for the Bonga North deepwater project, a move that could significantly boost local content development in the country’s oil and gas sector.
The Nigerian oil and gas industry has witnessed a significant increase in local content participation since the enactment of the Local Content Development Act in 2010.
This has not only created jobs and fostered economic growth but also promoted technology transfer and enhanced the capabilities of Nigerian companies.
However, challenges remain in ensuring that Nigerian companies can effectively compete for contracts in the increasingly complex and competitive oil and gas industry.
Access to capital, development of technical expertise, and meeting international standards remain key challenges.
The Bonga North project presents a significant opportunity for Nigerian companies to further enhance their capabilities and contribute to the growth of the domestic oil and gas industry.
Nigerian oil firms seek 25% of Shell’s Bonga North contracts
The successful implementation of this project will depend on the ability of all stakeholders to work together to ensure that local content targets are met while maintaining the project’s safety and efficiency.”
