Agip Spends $5.4b on Nigerian Content

• Agip Spends $5.4b on Nigerian Content

The Nigerian Agip Oil Company (NAOC) has spent $5.4 billion to grow and develop Nigerian content.

Speaking during a two-day workshop for NAOC SMEs Vendors yesterday, in Yenagoa, Bayelsa State capital, its Vice Chairman and Managing Director, Mr. Massimo Insulla, said the oil major spent the money over the last six years adding that the multinational is in the forefront of the marine initiative.

He said during the petriod, the company embarked on a number of activities including, but not limited to internship arrangement with Nigerian Content Development and Monitoring Board (NCDMB) to provide mandatory practical sea time experience for cadets.

He said the two-day succession planning workshop, was the second for the year hosted by Eni, Agip’s parent company.

Insulla said the workshop was designed to equip proprietors and management of SMEs with skills and best practices in planning for continuity and sustainability of their businesses in case of incapacitation, retirement or old age.

He said: ‘’This programme is significant because it aligns with the new vision of Eni which recognises that diversity across all aspects of our operations and organisation is something to be cherished. We believe in the value of long term partnerships with the countries and communities where we operate.

‘’As a demonstration of Eni’s commitment to expand our operations and grow Nigerian content, we are implementing a number of projects in the Nigerian oil and gas as well as energy sector including our Zabazaba deep offshore project, ongoing feasibility for the construction of a brand new 150,00 barrel of oil per day (bpd) refinery, support for refurbishment of Port Harcourt refinery, efficiency of the national grid, alternative energy mix.

‘’We are engaged in consolidating our relationship with recognised trainers for the training of 280 seafarers at Maritime Academy, Oron and Joemarine Nautical Company, Warri.

‘’We are engaged in training of 10 subsea engineers in collaboration with the NCDMB as well as various project-based training which has so far benefitted 204 trainees nominated from NCDMB as well as impacted host communities.

‘’Our vendor finance scheme which started in 2014 in collaboration with Stanbic IBTC and Zenith banks has provided opportunities for our contractors to access funds at favourable terms in order to continue to provide services to our companies.’’

Also speaking on the occasion, Bayelsa State Governor, Mr. Seriake Dickson, urged businessmen and women in the state to take advantage of the opportunities provided by the NCDMB to grow and sustain their businesses.

While identifying the development of SMEs as critical to any economy, the governor said access to capital remained the major constraint in business development and sustainability.

He urged the people of the state to get actively involved in the oil and gas industry to enable them take charge of their local economy.