‘Petrolog’s huge impetus stems from FG’s local content policy

The Federal Government’s desire to ensure active participation of indigenous firms in the nation’s oil and gas sector has continued to reap benefits on the back of the local content policy as Petrolog, an integrated oil and gas company, launched its newly acquired, state-ofthe-art, deep support vessel
(DSV) equipped for shallow and deep water operations to optimise its business.

This is as stakeholders in the energy sector have heaped praises on the President Goodluck Jonathan’s administration over the successes so far recorded by indigenous oil and gas firms on the back of Nigeria’s local content policy. The president signed them Nigerian Oil and Gas Industry Content Development (NOGICD) Act into law five years ago and it has since given impetus to indigenous firms to make monumental investments in human and material resources to meet the demands of the industry. The Petrolog vessel to be known as DSV Vinnice, whose acquisition was funded by First Bank, is 85 metres long with a beam of 22 metres. It is the largest indigenously owned DSV in its class and is capable of providing diving, offshore construction and field support.Petrolog has over the  years expanded its services to include drilling, mud logging and mud engineering, geophysical exploration, engineering design and project management. Petrolog is represented in 4 continents with over 12 offices in 6 countries.

Speaking at the launch of the vessel at the Naval dock yard in Lagos on Tuesday,Ernest Nwakpa, executive secretary of Nigeria ContentDevelopment and Monitoring Board (NCDMB), said President Goodluck Jonathan and Diezani Alison- Madueke,the minister for petroleum, both deserve praises for the local content policy, which, according to him, has “set the Nigerian entrepreneur free” to participate more in the nation’s oil and gas industry since the signing of the Act in 2010.

OLUSOLA BELLO & OLUSEGUN ABISOYE