Arco urges FG to step up efforts on local content policy

Alfred Okoigun, MD, Arco Petrochemicals

Alfred Okoigun, MD, Arco Petrochemicals

17 March 2014, Lagos – Arco Marine and Oilfield Services Limited, a subsidiary of Arco Petrochemical Engineering Company Plc has called on the Federal Government to step up efforts against resistance to the local content law.

Speaking at the commissioning ceremony of  vessels christened MV Arco FCB4 and MV FCB 5, Group Managing Director, Arco Group, Mr. Alfred Okoigun said, “Let me say with the highest sense of responsibility that there are still some pockets of serious resistance to the local content policy.

We ask the Federal Government, especially the agencies that are implementing the law not to relent in their efforts so that they can neutralize such pockets of resistance to the law.

“The multiplier effects of encouraging Nigerian companies to play key roles in the nation’s oil and gas industry are enormous. For example, Arco started as a one man business in 1980, 34 years after we have over 400 personnel on our payroll of which 130 are technicians.

“When the Nigeria oil and gas industry local content development law was enacted in 2010, many people thought that it would not succeed like other initiatives that were put in place in the past that did not succeed at the end of the day.”

To further grow the company, he noted that it entered into collaboration with Cardinalstone Partners Limited, stating, “moving away from a one-man company to a sustainable business organisation that will outlive its founder is an objective we are pursuing in Arco and we would like to recommend that path to other Nigerian entrepreneurs.

That is a sure way to drastically reduce the alarming rate of unemployment and alleviate poverty in our country. Also speaking, Group Managing Director, Nigerian National Petroleum Corporation, NNPC, Mr. Andrew Yakubu said that the NNPC will continue to support entrepreneurs in the country, ensuring they take a lead in the industry.

Yakubu who was represented by his General Manager, Mr. Luke Anele, said, “Although the journey has not been an easy one, NNPC will continue to support serious entrepreneurs which Arco field represents, because we recognize the role such companies will play in our offshore campaign to introduce oil and gas for the Nigerian people.

Meanwhile, Arco launched two of its newly acquired Fast Crew Boats (FCB) for offshore operation with capacity to accommodate 70 passengers. The boats will be engaged for personnel transport, surveillance and emergency interventions by Total Exploration and Production Nigeria Limited, “TEPNL” and ExxonMobile.


– Vanguard

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