nigerian oil and gas industry content development act 2010 pdf Wednesday, March 24, 2021 4:57:19 PM

Nigerian Oil And Gas Industry Content Development Act 2010 Pdf

File Name: nigerian oil and gas industry content development act 2010 .zip
Size: 17056Kb
Published: 24.03.2021

Global Trade Alert

The Bill was submitted to the House of Representatives on 18 December for its first reading and has made slow legislative progress since and which seems likely to slow further as the Government tackles the effects of Covid and the oil price crash.. The Act established a legal framework for the development of local content requirements in the oil and gas sector in Nigeria. The Bill has two main new functions: 1 it broadens the existing local content requirements for the oil and gas sector; and 2 it implements a similar regime for the ICT, power, solid minerals and construction sectors. Among other things, the Board is responsible for evaluating and approving Nigerian content plans and reports submitted by operators and, in conjunction with the Minister of Petroleum, making regulations establishing minimum standards. Penalties : penalties for non-compliance now include five years imprisonment in addition to a fine of fifteen per cent of the project sum. From the draft of the Bill we have seen, there are some important changes from the Act including the end of charging of the content development levy and the Board is to instead receive funding from the Government however the power and solid mineral industries will face content levies.

Nigeria considers changes to Nigerian content requirements in the oil and gas sector

Awe, S. The drive of Nigerian government to boost economic activities through local capacity utilisation, human capital development and empowerment of indigenous companies resulted in the implementation of Nigerian content development in the oil and gas industry which was previously exclusive to the multinationals. The Nigeria Oil and Gas Industry Content Development Act of provides the legal framework to facilitate and promote mandatory participation of companies owned by Nigerians in the high-risk and high-cost petroleum industry. Prior to the enactment of the act, insignificant number of Nigerian companies had the financial strength and technical know-how required to be competitive in the petroleum sector compared with the well established multinational operating and service companies. These factors made compliance with the requirements of the act a daunting challenge for the sector. Historically, The Shell Petroleum Development Company SPDC has played important roles in the development of various aspect of petroleum industry in Nigeria owing to its visionary leadership position in the sector. This disposition of the company to NCD ensured that by the time the act was enacted in , competent local contractors in drilling operations, production maintenance, facilities construction and so on had been developed.

Local sourcing. The new law seeks to increase indigenous participation in the oil and gas industry by prescribing minimum thresholds for the use of local services and materials and to promote the employment of Nigerian staff in the industry. The Local Content Act derives from the Nigerian Content Policy which seeks to promote active participation of Nigerians in the petroleum sector without compromising standards. The policy also focuses on the promotion of value addition in Nigeria through the utilization of local raw materials, products, and services in order to stimulate growth of indigenous capacity. All regulatory authorities, operators, contractors, subcontractors, alliance partners and other entities involved in any project, operation, activity or transaction in the Nigerian oil and gas industry are required to consider Nigerian content as an important element of their projects. Nigerian independent operators shall be given priority in the award of oil blocks, oil field and oil lifting licenses as well as in all projects for which contracts are to be awarded in the Nigerian petroleum industry subject to the fulfilment of conditions specified by the Minister of Petroleum Resources. The following provisions are stipulated in the act:.

The Act has been instrumental to the promotion of the development and utilization of indigenous capacities in Nigeria, and we expect that the progress made will be consolidated for greater impact in the years to come. The Bill seeks to, among others, extend the application of the local content principles and philosophy to the following key sectors of the economy - Information and Communications Technology, Power, Solid Minerals, and Construction. We are reviewing the Bill and will issue a detailed newsletter on it in due course. In the interim, it is important that the industries that may be impacted by the new legislation closely follow this development. Click to download and read more on this update. All rights reserved.

Nigerian Local Content Update

The Bill was submitted to the House of Representatives on 18 December for its first reading and has made slow legislative progress since and which seems likely to slow further as the Government tackles the effects of Covid and the oil price crash.. The Act established a legal framework for the development of local content requirements in the oil and gas sector in Nigeria. The Bill has two main new functions: 1 it broadens the existing local content requirements for the oil and gas sector; and 2 it implements a similar regime for the ICT, power, solid minerals and construction sectors. Among other things, the Board is responsible for evaluating and approving Nigerian content plans and reports submitted by operators and, in conjunction with the Minister of Petroleum, making regulations establishing minimum standards.

Global Trade Alert

Nigeria considers changes to Nigerian content requirements in the oil and gas sector

This paper is not an academic discourse, it is basically to tease out the content of the law, its genesis and also an attempt at highlighting some challenges for the purpose of stimulating discussion. The passage into law of the Nigerian Local Content Bill is one of the significant developments in localizing management and control of the oil and gas industry. The bill received presidential assent on the 2nd of April and created a law to provide for a framework towards indigenous content in the Nigerian oil and gas industry. The law also establishes the Nigerian Content Monitoring Board which is charged with the responsibility to manage the coordination, monitoring and implementation of local content law. Indeed experts believe that an agreeable scenario will be where Nigerian Companies are allowed to participate along International Oil Majors.

За восемь месяцев работы в лаборатории Фил Чатрукьян никогда не видел цифр в графе отсчета часов на мониторе ТРАНСТЕКСТА что-либо иное, кроме двух нулей. Сегодня это случилось впервые. ИСТЕКШЕЕ ВРЕМЯ: 15:17:21 - Пятнадцать часов семнадцать минут? - Он не верил своим глазам.  - Это невозможно.

{{vm.title}}

 - Доктор. - Зюсс.  - Он пожал плечами. - Ладно, - нахмурилась Сьюзан.  - Попробуем еще… Кухня. - Спальня, - без колебаний отозвался .

Он снова посмотрел на Джаббу и закрыл.  - Танкадо отдал кольцо с умыслом. Мне все равно, думал ли он, что тучный господин побежит к телефону-автомату и позвонит нам, или просто хотел избавиться от этого кольца. Я принял решение. Мы вводим эту цитату. Сейчас. Джабба тяжко вздохнул.

 Совсем мало, - сказал Джабба, посмотрев на монитор.  - Всего лишь какие-то обрывки, в полном виде -. Фонтейн медленно кивнул и улыбнулся одними уголками губ.

 Как вы думаете, мисс Флетчер. Сьюзан задумалась. Она чувствовала, что здесь что-то не то, но не могла сообразить, что .

 С чего это ты взял, что я шучу. Беккер промолчал. - Подними! - срывающимся голосом завопил панк. Беккер попробовал его обойти, но парень ему не позволил. - Я сказал тебе - подними.

Но этот канадец не знал, что ему надо держаться изо всех сил, поэтому они и трех метров не проехали, как он грохнулся об асфальт, разбил себе голову и сломал запястье. - Что? - Сьюзан не верила своим ушам.

2 Comments

Pansy P. 27.03.2021 at 02:57

Don miguel ruiz the fifth agreement pdf free download pdf for windows xp

Peter J. 27.03.2021 at 22:55

In , to further strengthen the quality of reporting, UNCTAD revised the methodology of monitoring investment policy measures.

LEAVE A COMMENT