PETAN seeks support to increase local participation in oil sector

Bank-Anthony Okoroafor
Bank-Anthony Okoroafor

THE Petroleum Technology Association of Nigeria, PETAN, has called on policymakers and regulators to providing enabling policies and favourable business environment in the oil and gas industry. Bank-Anthony Okoroafor, chairman, PETAN, urged stakeholders to jointly work towards increasing the participation of indigenous companies in the industry.

Speaking at the 2019 PETAN Oil Industry Achievement Award in Lagos, Okoroafor said the association remained committed to partnering with all stakeholders to create the enabling environment for the industry to thrive. He stressed that PETAN was formed to utilise the technical know-how acquired in the oil and gas industry by Nigerians as a springboard for economic change and technological advancement of the nation.

He explained that PETAN, in 2010, developed a 4-C Strategic Plan – Capacity building, Capitalisation, Collaboration and Consolidation – to identify and leverage capacity gaps from the Local Content Act, Consolidate and expand end-to-end capacities to deliver across the value chain. “PETAN will be 30 years in March 2020 and we will be rolling out the drums and we will be inviting the industry to celebrate with us in working with NCDMB and the National Assembly to increase retained earnings from five percent to more than 27 percent; equipment ownership (drilling rigs, logging equipment, slickline, cementing, coiled tubing, nitrogen, stimulation, well heads, well testing, pipe laying) to more than 90 percent.

”Vessel ownership from less than 10 percent to more than 40 percent, Fabrication tonnage from nothing to above 60,000, barite processing, pipe coating, pipe laying, Operation & Maintenance, FPSO integration, Engineering design,” he said.

According to Okoroafor, the theme of the programme was aimed at re-emphasising the long-standing PETAN philosophy which centres around operational excellence, for the growth of the industry. “That was why we initiated the PETAN Seal of quality to standardize our operations and certify our people in particular and the industry in general.

“The process has fully commenced, and a number of our members have been certified in conjunction with Bureau Veritas with issuance of certificates, others will be certified in the coming days.”

Highlighting the importance of Local Content in the life of a nation, the PETAN boss, noted that it makes economic sense, creates genuine players with proven/verifiable track records and reputation to protect, growth of local expertise and know-how, local community interruptions will be minimized and create employment and development.

– Dec. 6, 2019 @ 17:19 GMT |

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