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NNPC canvasses support for Nigerian-owned vessels

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THE Nigerian National Petroleum Corporation (NNPC) has pledged to provide necessary support to all Nigerian-owned vessels operating in the oil and gas sector.

  Group Managing Director of NNPC, Dr Joseph Dawha, who spoke in Lagos Tuesday during the unveiling of Petrolog Limited newly built Diving Support Vessel, said indigenous contractors will be given adequate support as part of measures to create jobs and grow local capacity.

   Dawha, who was represented by Group General Manager, National Petroleum Investment Management Services (NAPIMS), Jonathan Okehs, an engineer, also enjoined financial institutions to support the acquisition of vessels by indigenous operators.

   He commended First Bank Nigeria (FBN) Limited for making it possible for Petrolog, an indigenous operator to finance the acquisition of the new vessel.

Group Managing Director/Chief Executive Officer of FBN, Bisi Onasanya, who also spoke at the event expressed the desire of the financial insitutions to provide funding assistance to more operators in the sector.

 Apart from funding, according to Onasanya, the Vessels’s insurance was packaged by FBN Insurance Brokers with a consortium of 26 Nigerian Insurance companies led by FBN Insurance Limited and two other insurance companies.

 Explaining further, he said: “It is no coincidence therefore that both institutions have developed an enduring partnership over the years. We rejoice with the entire Petrolog Group on this day of multiple celebrations, as I know you have had a wonderful time so far. I am delighted to join you at this point in the chain of celebrations. Your joy is our joy. We appreciate your warm partnership”.

   He said: “At FirstBank, we are delighted to be a part of this milestone achieved through avowed support for indigenous participation and advancement of the local content policy of the Federal Government in the nation’s oil and gas sector, especially the upstream subsector”.

He said the acquisition of the Vessel further demonstrates the FirstBank Group’s commitment to increase the capability of corporate customers and other operators in the national economy “as we continue to put them first in the heart of our business”.

    He commended the Executive Chairman of Petrolog Limited, Dr Vincent Ebuh and his team at the Petrolog Group for “staying the course over the past three decades, growing into a renowned multinational private indigenous oil servicing brand with diversified operations on four continents”.

   Ebuh in his submission said the new ABS classed Dynamic Positioning (DP2) Dive Support Vessel is the largest indigenously owned dive support vessel in Sub-Sahara Africa.

   He said: “DSV Vinnice is the latest addition to Petrolog’s marine assets and other facilities to enhance oil and gas production in Nigeria and other countries.

“Since its establishment, well over three decade ago, Petrolog has maintained a competitive edge knowing fully well that the sector in which we are operating thrives on global best practices. It was this resolve at the very early stage of our commencement that helped us to survive.

“This commitment to sticking to standard also aided our expansion drive and foray into other countries and continents. Today, Petrolog operates in United States of America, Venezuela, Costa Rica, Angola, Tanzania, Canada and a few other countries”, Ebuh said



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