Chevron Nigeria Limited Commits $10bn To Boost Local Content

An estimate of $10 billion has been spent by Chevron Nigeria Limited (CNL), operator of the joint venture with the Nigerian National Petroleum Company Limited (NNPC), towards enhancing local businesses through implementation of the local content initiative.

The oil company which marked its 60 years of operation in the country this December has had a long history of commitment to Nigerian Content development.

Chevron companies in Nigeria had developed and imbibed the Local/Nigerian Content development philosophy well before the April 2010 enactment of the Nigeran Oil and Gas Industry Content Development Act(NOGICD) Act, Chevron has helped in building the capacities of several Nigerian businesses by providing training, contracts and procurement opportunities to Nigerians on all projects in its operations.

The company in the last 10 years, has spent an estimated annual average of $1 billion on Nigerian suppliers and service providers.

CNL’s chairman and managing director, Rick Kennedy, emphasised that, “Chevron does all this, not because it was compelled to, but because it is the right thing to do.”

Chevron’s Agbami project also set industry standards by fabricating more than 10,000 tonnes of steel with Nigerian fabrication companies, the highest ever recorded in Nigeria.

According to Kennedy, Chevron also trained 105 Nigerian engineers from 21 engineering companies in South Korea. Equally, the Escravos Gas Project (EGP) has employed over 1,800 Nigerians and sourced millions of Dollars’ worth of services (engineering, procurement, fabrication, marine, etc.) locally.