OTC 2024: Member Urges FG To Strengthen Local Content Policies

Folashade Adeniran
May, Fri, 2024

Economy/Business

OTC 2024: Member urges FG to strengthen local content policies

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By Yunus Yusuf

Mrs Jumoke Oyedun, Managing Director, ACME Multi Tech Services Ltd., has called on the Federal Government to further strengthen local content policies in the oil and gas sector.

Oyedun, a Nigerian accredited member of the organising committee of the 2024 Offshore Technology Conference (OTC), told newsmen at the just-concluded five-day conference in Houston, Texas, U.S.

She said this would help to enhance development and capacity building in the sector.

Oyedun urged the government to invest in education, training and provide financial support which include grants, low-interest loans, and venture capital funding for indigenous companies.

According to her, the government needs to establish innovation hubs to focus on oil and gas technology as well as promote partnerships between foreign investors and local businesses.

“It also needs to enhance infrastructure development for efficient operations; implement transparent policies for trust and participation.

“Also, the government needs to monitor and evaluate initiatives to ensure effectiveness and adjust as needed. All these actions will create a conducive environment for sustainable growth in the industry,” she added.

Oyedun said that Nigerian involvement at OTC 2024 signified significant progress in fostering global business relationships and technological exchanges in the offshore technology sector.

She said: “We assess Nigerian participation quantitatively and qualitatively. Registration data iindicated increased interest, while engagement levels during sessions highlight active involvement.

“Networking events fostered valuable connections, leading to potential business opportunities. Follow-ups reveal concrete outcomes like partnerships.

“Feedback from Nigerians and other African countries participants will guide future planning. Media analysis gauges industry perception and global visibility.”

Oyedun said that 20 prominent oil and gas firms showcased their services and expertise at the just-concluded OTC 2024 in Houston, Texas, managed by New House International Ltd.

According to her, among them were Seplat Energy Plc, Tasaniola Nigeria Ltd., JOENY Holdings Ltd., Goddie Chemicals International Ltd., Aradel Holdings Plc, and Ghana National Petroleum Corporation.
Others include New Energy Services Company Ltd., and Ardova Plc.

“Significantly, we highlighted two female-owned businesses, Offshore Dimension Ltd. and Numad Energy Ltd., emphasising our commitment to gender inclusivity.

“All these companies exemplify the varied capabilities of Africa’s oil and gas sector, underscoring its vibrancy.

“New House International Ltd. plays a pivotal role in championing growth and diversity within the industry,” she said.

Assessing the 2024 OTC, Oyedun acknowledged that the conference stood out for its distinguished panel sessions and notable African leadership presence.

She said that leading figures, included ministers from Nigeria and Ghana, along with managing directors of International Oil Companies (IOCs) and National Oil Companies (NOCs), who participated in discussions on industry challenges and opportunities.

“Panels covered a wide array of topics, reflecting current trends and addressing African industry concerns.

“The diverse participation provided comprehensive insights into global and local energy dynamics.

“Service delivery was exceptional, ensuring all attendees received a seamless experience. This commitment to excellence contributed significantly to the conference’s success.

“Overall, the 2024 OTC set a new standard for global oil and gas conferences, serving as a vital platform for African industry advancement and international partnerships. (NAN)

Edited by Olawunmi Ashafa

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