TheCable

Osagie Okunbor, country chair, Shell Companies in Nigeria (SCiN), says contracts worth $800 million were awarded to Nigerian companies in 2020.

Okunbor, who is also the managing director (MD) of Shell Petroleum Development Company of Nigeria (SPDC), said this on Tuesday at a panel session during a strategic conference organised by the National Association of Energy Correspondents of Nigeria (NAEC)in Lagos.

He was represented at the event by Ed Ubong, managing director, Shell Nigeria Gas (SNG).

Okunbor said that Shell assists Nigerian companies to achieve the necessary certification for their products and services to ensure that they qualify for tenders and contracts.

“In 2020, 100 percent of SCiN contracts, worth $800 million, were awarded to Nigerian companies,” NAN quoted him as saying.

“SCiN has also provided access to nearly $1.5 billion in loans to 764 Nigerian vendors under the Shell Contractor Support Fund, since 2012.”

Okunbor further emphasised the importance of reducing the oil and gas industry’s reliance on imports and creating new markets in the country.

“At Shell, we recognise that local content is key to surviving a post-COVID 19 pandemic world, and Shell will continue to invest in this space,” he said.

“We remain committed to building capacity and competence in the country to enable more Nigerians to participate directly and indirectly in the gas value chain and pump more money into the local economy by supporting Nigerian companies.”

He said Shell was also investing in a gas portfolio to increase supply for Nigerian and international customers via an expanding network of plants, pipelines and export terminals.

Okunbor said they were being developed with joint venture partners, the Nigerian government and communities.

“Harnessing our vast gas resources is key to the development of the country,” Okunbor said.

“Natural gas gives us the ability to lift millions of people out of energy poverty, giving them the power to improve their physical health, wellbeing and standard of living.

“It also gives us a pathway to economic growth and development.

“This is not only through direct exploration and trading of gas resources but by providing reliable power supply for the manufacturing and industrial sectors which are the major growth engines for developing economies.”