Shell Awarded $2.4b Contracts to Indigenous Firms In 2012

Shell Nigeria has said it awarded a total contract sum of $2.4 billion to Nigerian companies in 2012.

This figure according to the Managing Director SNEPCo, Chike Onyejekwe was $1 billion more than the sum of contracts awarded by the company in 2011.

Onyejekwe made the disclosure while speaking at an investment summit for Nigerian and British companies jointly hosted by Shell and the United Kingdom Trade & Investment (UKTI) recently in Lagos.

While restating Shell’s commitment to further develop the local content policy, he said “last year, Shell companies inNigeria awarded contracts worth $2.4 billion to Nigerian companies, one billion dollar more than the amount in 2011. Local content is good forNigeria and for the business and we’re determined to raise the game.”

About 100 Nigerian and British companies attended the summit which aimed at forging partnerships among businesses in the two countries in areas of Engineering Procurement Installation Commissioning (EPIC) contracts, manufacturing, fabrication and general oil and gas services.