NAE, PETAN Partner On Local Content Dev.

As part of the efforts to pro
mote the creation of growth opportunities for indigenous entrepreneurs and develop local professional skills  towards  technology transfer in the oil and gas industry, the Nigerian Agip Exploration (NAE) and Petroleum  Technology Association of Nigeria (PETAN) have signed a memorandum of understanding   (M0U) to  enhance the implementation of the Nigerian  Oil and Gas Industry Content-Development (NOGICD) Act.
NOGICD, The Tide reports, is the quantum  of composite value added to the economy by a systematic development of capacity and capabilities, through the deliberate utilization  of Nigerian human, material resources and services, as well as  act as a legal  tool to ensure compliance by stakeholders in the oil and  gas sector.
The M.o.U between NAE and PETAN which  was signed last Thursday  by NAE  Vice Chairman/Managing Director, Massimo Insulla, and the chairman PETAN, Engr Emeka Ene, during the Vendor gap  closure  opportunities  engagement/exhibition, organised by NAE in Port Harcourt, was witnessed by the Executive Secretary  of Nigerian Content Development and Monitoring Board (NCDMB), who was represented by Manager, Monitoring Evaluation, Dr. Johnson Olajuyigbe and supervised by the  chairman  House of Representatives Committee on Local Content, Honourable Asita o Asita.
In his remarks, the chairman House Committee on Local Content, Honourable Asita, charged indigenous  companies to fully utilise  the opportunities provided in the Act, aimed at encouraging indigenous participation in the activities of the oil industry.
He opined that local  contractors and vendors should equip  themselves  with proper  skills and technical-know-how  required to key into the  system, noting that effective  and successful utilization of Nigerian  Human, material resources and services remains the primary focus of the Act.
The NAE Vice Chairman/Managing Director, Masimo Insulla, in his address, said the  forum was aimed at promoting collaborative  efforts towards in-country Nigeria content  gap closures and capacity development initiatives  and with a view to create value for stakeholders as well as contribute to economic  sustainability of the country.
He enjoined operators to give full and effective support to technology transfer by encouraging  and development  of licensing agreements between  Nigerian and foreign contractors and service supply companies.
In his speech, the chairman PETAN, Engr Emeka Ene, said  membership  of PETAN are growing  in number and have  created  over 20,000 direct and indirect jobs.
He posited that now that the gaps have been identified it behoves on stakeholders to improve on their strength and capabilities  so as to meet the necessary requirements needed to flow with the trend.
High light of the engagement was exhibition of equipment and wares  by over 50 companies that participated.