Shell Nigeria Petroleum Exploration Company SNEPCO has reiterated the company’s commitment over the years in supporting local companies’ businesses through improved expertise and processes that strive for growth and an enabling environment that helps them provide technical and logistics services, among many others.
Shell Nigeria has disclosed that in a bid to boost the development of Nigerian content in oil and gas operations, it awarded contracts worth $518 million to indigenous companies, noting that about 123 indigenous companies were engaged across its business value chain in Nigeria in the same period under review.
With emphasis on SNEPCo’s recent major steps towards empowering Nigerian contractors with the launch of a $3-billion Contract Finance Facility in partnership with nine leading Nigerian banks, Vice President Commercial, Rohan D’Souza, stated that “The payments show strong support for Nigerian service providers in our operations.”
According to D’Souza, the facility is designed to provide credit support for local contractors executing projects for SNEPCo operations, citing that the measure supports Nigerian compliance law and stands as a creative approach to the growth of indigenous companies doing business in the oil and gas sector.
“We see the development of Nigerian companies beyond compliance with laws. It is an integral part of a longstanding strategy to create a win-win relationship with indigenous companies and support them to create more value in the oil and gas industry within and outside the country,” Rohan stated.
Shell is definitely committed to boosting Nigerian Contractors’ capacity. A $ 3 billion Contract Finance Facility is available in both Naira and US Dollars in partnership with nine leading Nigerian banks to provide credit support for local contractors executing projects for SNEPCo operations.
