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Tag: ExxonMobil

  • ExxonMobil sponsors dons from 30 varsities in geology

    ExxonMobil sponsors dons from 30 varsities in geology

    Geology lecturers from 30  universities have been trained on the latest advances in Sequence Stratigraphy, a key aspect of Geology, courtesy of ExxonMobil in Lagos.

    The course titled: “Sequence Stratigraphy – Concepts, Principles & Applications” was facilitated by a leading international authority on Petroleum Geology, Dr. Gary Hampson, Director of the globally renowned Petroleum Geoscience Master of Science programme at Imperial College, London.

    The week-long course was organised by the American Association of Petroleum Geologists (AAPG), Africa Region.

    The 30 universities that their Geology lecturers attended the course were Ahmadu Bello University, Zaria;  University of Lagos, Akoka; University of Nigeria, Nsukka; University of Ibadan; Obafemi Awolowo University, Ile-Ife;  University of Benin; University of Port Harcourt; Ladoke Akintola University of Technology, Ogbomoso; Olabisi Onabanjo University, Ago-Iwoye; Osun State University; Federal University of Technology, Akure; Ekiti State University, Ado-Ekiti and Federal University of Petroleum Resources, Effurun.

    Other universities with lecturers that participated were Federal University of Technology, Minna; Kogi State University, Ayingba; University of Ilorin; Kwara State University, Malete; University of Jos; Federal University of Technology, Owerri; Nnamdi Azikiwe University, Awka; Anambra State University, Ulli; University of Calabar; Delta State University, Abraka; Abubakar Tafawa Balewa University, Bauchi; Enugu State University of Technology; Federal University, Ndufu-Alike; Niger Delta University, Yenagoa; Akwa Ibom State University, Mkpat-Enin; Ebonyi State University, Abakaliki and Niger State University, Lapai.

    Each lecturer had a minimum of a Doctorate Degree in Geology, specialising in Stratigraphy, sedimentology or petroleum geology and also had a minimum of five years’ experience in teaching.

    The course facilitator, Dr. Hampson, who is also the AAPG Distinguished Sequence Stratigraphy lecturer for the Africa Region, took the participants through very stimulating sessions on the various aspects and applications of Sequence Stratigraphy and its importance to the field of geology.

    The lecturers praised the AAPG and ExxonMobil for organising and sponsoring the course, adding that the knowledge gained from the course would further improve the quality of their educational instruction to their students.

    According to Mr. Andrew Ejayeriese, General Manager, Exploration of Esso Exploration and Production Nigeria Limited (EEPNL), an ExxonMobil subsidiary, the course was sponsored by ExxonMobil as part of the company’s continued efforts to improve upon the quality of Geoscience education in Nigeria to globally-competitive levels.

  • ExxonMobil sacks 190 in Akwa Ibom

    ExxonMobil sacks 190 in Akwa Ibom

    • Sacked staff urge FG, state’s intervention

    Mobil Producing Nigeria (MPN), the operator of Nigerian National Petroleum Corporation MPN/NNPC Joint Venture in Akwa Ibom State, has sacked about 150 contract staff and 40 drivers from its employ.

    Some of the victims, who spoke with the newsmen in Ibeno Local Government Area of Akwa Ibom yesterday, said that the development had devastated them.

    They lamented incessant sacking of workers in Akwa Ibom State by the oil giant company.

    A driver affected by the sack, Mr Frank Etebong, said that ExxonMobil had paid their entitlements, but complained that the sacking of workers in the company was getting out of control.

    “Working with ExxonMobil is like holding your heart in your hand because you can be fired at any time.

    “If government does not take urgent step to check the incessant sacking of Nigerians in ExxonMobil, one day the oil giant company will disengage all our people in the company,’’ he lamented.

    Etebong, who would not disclose how much he was paid, said that the money was not enough to start a good business.

    He explained that there are two set of drivers in the company, namely service contract workers and contract workers.

    He appealed to the state government to come to the aid of the sacked workers, saying that the situation had devastated their members.

    Another Victim, Mr Martins Usendia, said there was no justification for the sack of the workers, lamenting that the benefit given by Mobil could not feed him for four months.

    He called on the Federal Government to intervene, saying that the “incessant dismissal of workers had an adverse effect on the economy.’’

  • ExxonMobil sacks 150 staff

    ExxonMobil sacks 150 staff

    Mobil Producing Nigeria (MPN), Unlimited, operator of Nigerian National Petroleum Corporation MPN/NNPC Joint Venture in Akwa Ibom has sacked about 150 contract staff and 40 drivers from its employ.

    Some of the victims who spoke with the newsmen in Ibeno Local Government Area of Akwa Ibom Friday said that the development had devastated them.

    They lamented incessant sacking of workers from the oil giant company in Akwa Ibom.

    A sacked driver, Mr Frank Etebong, however, said that ExxonMobil had paid their entitlements but complained that the sacking of workers in the company was out of control.

    He explained that the sack had put confusion amongst their colleagues.

    “Working with ExxonMobil is like holding your heart in your hand because you can be fired at any time.

    “If government does not take urgent step to check the incessant sacking of Nigerians in ExxonMobil, one day the oil giant company will disengage  all our people in the company,’’ he lamented.

    Etebong who would not disclose how much he was paid, said that the money was not even enough to start a good business.

    He explained that there are two set of drivers in the company namely Service Contract Workers and Contract Workers.

    He appealed to the state government to come to their aid, saying that the situation had devastated their members.

    Another Victim, Mr Martins Usendia, expressed displeasure at the situation, saying that there was no justification for the sack of the workers.

    Usendia lamented that the benefit given by Mobil could not feed him for four months before he gets a new job.

    He called on the Federal Government to intervene, saying that the “incessant dismissal of workers had an adverse effect on the economy.”

     

  • Oil spill: Akwa Ibom monarch demands $100m compensation from ExxonMobil

    Oil spill: Akwa Ibom monarch demands $100m compensation from ExxonMobil

    Worried by environmental degradation occasioned by frequent oil spillages, the people of Ibeno Local Government Area, one of the major oil-bearing communities in Akwa Ibom State, have lamented over what they described as environmental hazards caused by oil exploration activities by ExxonMobil.

    Ibeno, host community to the American oil-giant for decades, has been groaning over constant oil spills into their rivers, leading to destruction of aquatic lives, farmlands and fishing business.

    Speaking to reporters on the matter in his domain in Ibeno, the paramount ruler, Owong Effiong Achianga, lamented that oil exploration activities of Mobil has brought untold hardship on his people and urged management of the company to live up to their expectations by cushioning the effects of oil exploration activities in the area.

    The royal father, who disclosed that Mobil had been defaulting in paying correct compensations accruable to the area over oil spills and environmental degradation, explained that  “Mobil should be paying at least $100million yearly” to tackle the problem efficiently.

    Besides, Achianga urged the company to boost its social responsibility profile by creating jobs and other income generating opportunities to the local residents of Ibeno, noting that such gesture would go a long way towards making them have a sense of belonging in the company.

    On the activities of sea pirates and other forms of maritime criminals operating on the shores of Ibeno and its environs, the anxious monarch lamented the ordeals faced by his people, adding that their means of livelihood including fishing and marine transports were under serious threat.

    He, therefore, appealed to the state and federal governments to step into the matter with a view to making the sea safe for maritime workers and oil exploration activities.

  • Port Harcourt’s race to regain lost glory

    Port Harcourt’s race to regain lost glory

    Efforts are now being made to return Port Harcourt, the Rivers State capital to its Garden City status. BISI OLANIYI writes on the determination of the stakeholders to effect the change.

    In the 60s and 70s, Rivers State was known for its clean, green and healthy environment. The lushness and serenity of the environment earned Port Harcourt, the state capital, its Garden City status.

    The Port Harcourt City, and indeed other parts of the state, lost the status due to the rapid influx of people into the state, occasioned by oil and gas exploration and exploitation, industrialisation and increased commercial activities. Port Harcourt, once known for its beauty and serenity, became a garbage city.

    Governor Rotimi Amaechi and other stakeholders are making efforts to restore the lost glory.

    In view of the efforts of the stakeholders, the Rivers State capital can easily take over from Calabar, the capital of Cross River State, as Nigeria’s cleanest city, if seen as a collective responsibility.

    Amaechi also called on the all the stakeholders to support the Rivers government in keeping the state’s environment clean.

    Amaechi, while inaugurating in Port Harcourt an Ashok Leyland refuse compactor truck donated to the Rivers State Waste Management Agency (RIWAMA) by Mobil Producing Nigeria (MPN) Unlimited, a subsidiary of ExxonMobil, declared that he was determined to ensure a clean Rivers State. Two more compactors are expected from Mobil.

    The donation to RIWAMA was facilitated by a Port Harcourt-based Non-Governmental Organisation (NGO), the Manpower Development and Environmental Protection Initiative (MADEPIN), which has Livingstone Membere as its Chief Operating Officer.

    The Rivers governor, who was represented by the Chairman of the Rivers House of Assembly Committee on Environment, Mrs. Victoria Nyeche, of Port Harcourt Constituency One, noted that the money spent on healthcare would reduce, with a clean environment.

    Amaechi also lauded the Sole Administrator of the RIWAMA, Ade Adeogun, for ensuring a clean Rivers state, and Mobil for the initiative, in spite of operating on Bonny Island, with office in Onne, Rivers State, while asking other multinationals to emulate the oil giant.

    The Rivers government, through RIWAMA, seeks to transform Rivers into a state characterised by clean and greener cities, fresh waters and low carbon footprints, by enhancing the health and well-being, as well as raising the average life expectancy of the people.

    The Amaechi administration is also working towards improving sanitary habits and working at collectively harnessing the inner resources of the people in the state, to enhance wealth, job creation and economic empowerment, through effective modern waste management strategies.

    The ever-increasing population of Port Harcourt city and its metropolitan nature have increased the tonnage of household and commercial wastes, making it to become obvious that restoring Port Harcourt and indeed Rivers state to its Garden City status is a task that cannot be left to the government alone.

    The Rivers Commissioner for Local Government and Community Affairs, Charles Okaye, urged the contractors working for RIWAMA to avoid refuse dispersal on the state’s roads, thereby ensuring a clean Rivers State.

    The Commissioner for Environment in Rivers state, Dr. Nyema Weli, who was represented by Stephen Nyeenenwa, stressed that the population of Rivers had exploded, compared to when the agency was established in 1984, leading to massive production of refuse, which must be well disposed and that RIWAMA is adequately tackling the challenge.

    The General Manager, Public and Government Affairs of Mobil, Paul Arinze, who was represented by Yemi Fakayejo, the oil firm’s Manager, Public and Government Affairs, disclosed that the compactor was purchased for N16.5 million, while calling on RIWAMA to ensure its adequate maintenance.

    Arinze said: “As a responsible corporate citizen, the NNPC/MPN joint venture seeks to support the government in every small way we can, by embarking on sustainable community development projects presented to us for assistance by a broad spectrum of stakeholders, ranging from government, community, NGOs and civil society, to mention but a few.

    “The refuse compactor truck is courtesy of a request from RIWAMA and MADEPIN. Consistent with our avowed objective of supporting the government with the development of its people, we have delivered an average of one major corporate social responsibility project per quarter, since the beginning of the year, in various parts of Rivers State.

    “The truck is backed up with additional funding support to MADEPIN to implement an environmental awareness, sensitisation and advocacy programmes, in partnership with RIWAMA, towards the strengthening of institutional framework to sustain a culture of cleanliness in Port Harcourt and its environs.”

    Mobil’s general manager also reminded MADEPIN and RIWAMA that they were selected out of a pool of many NGOs and organisations requiring the oil giant’s support, having presented themselves as highly responsible and professional organisations.

    He asked RIWAMA and MADEPIN to know that Mobil’s support was given to them in trust and expected not only to be judicious in the use of the funds and equipment received, but to ensure the project was implemented in a sustainable way, in order to have the maximum impact.

    Arinze noted that the NNPC/MPN joint venture hoped that Port Harcourt would someday become Nigeria’s cleanest city, which he described as a vision, which he believed the management of RIWAMA could make happen.

    He stated that the management of the Nigerian National Petroleum Corporation (NNPC), which owns 60 per cent in the NNPC/MPN joint venture, deserved commendation for co-funding the project.

    Mobil’s general manager said: “For nine days in August 2014, the NNPC/MPN joint venture facilitated the provision of a free healthcare for the people of Omagwa, Ipo and Igwuruta, communities which are near the Port Harcourt International Airport.

    “Over 3,600 people (children, men and women) benefited from the support, which was provided courtesy of a request from the Federal Airports Authority of Nigeria (FAAN), Port Harcourt International Airport

    “Although, our company has no physical presence or relationship to the aforementioned communities, we acknowledge that corporations can be forces for social good, by complementing government in discharging its responsibility of meeting the social, health and welfare needs of the people.”

    Arinze also admonished Rivers people to continue to give peace a chance, stressing that there could only be development in an atmosphere of peace.

    The Chief Operating Officer of MADEPIN, Livingstone Membere narrated his experience with a resident in one of the waterfronts in Mile One, Diobu, Port Harcourt, during the NGO’s visit to the area, who said in Pidgin English: “make una commot for here abeg. Dorty no dey kill Afrika man.”

    Membere described the comment as an expression of the attitude and perception of most residents of Port Harcourt and its environs, indicating how, with the carefree attitude, residents had been defacing the city with garbage and other wastes.

    MADEPIN’s chief operating officer said: “The disparaging situation (garbage city status of Port Harcourt and its environs) made different administrations in the state to put in diverse strategies to address the challenges of municipal waste management and pollution. The RIWAMA, established by law in 2014, is the latest outcome of these efforts.

    “RIWAMA’s efforts under the leadership of the present Sole Administrator (Ade Adeogun) are yielding results. However, there is a very slow response from households and other stakeholders in complying with the regulations and also complementing RIWAMA’s efforts.

    “MADEPIN is working in six locations (Onne, Alesa and Akpajo in Eleme LGA; Elelenwo and Woji in Obio/Akpor LGA and Mile One in Port Harcourt City LGA) to create awareness on the dangers of a dirty environment and on how residents can keep their environment clean, through regular sanitation.

    “The sensitisation message is centred on waste reduction, reuse, recycling and proper disposal methods. To help RIWAMA with monitoring and enforcement, MADEPIN is working with residents in our pilot areas to facilitate the emergence of Volunteer Sanitation Marshalls (VSMs). We presently have 45 VSMs operating in the Sangana axis of Port Harcourt.”

    Membere also disclosed that MADEPIN had had scaled up what Mobil triggered, into a multi-stakeholder partnership for providing waste management support to the Rivers state government, christened the “Clean Rivers Initiative,” with youth corps members as some of the partners.

    MADEPIN, according to the chief operating officer, is also working with primary and secondary school students on its “Waste Craft Project,” with 100 to 150 students, between the age of 6 to 16 from various private and public schools involved, with the goal of training them on how to make useful gift items and toys from the waste they generate.

    The Sole Administrator of RIWAMA, Ade Adeogun, in his address, disclosed that 18 months after writing letters to multinationals and other companies operating in Rivers state, only Mobil had so far responded to assist the agency, while admonishing other firms to emulate the oil giant.

    He disclosed that the magnificent edifice when the handing over of the truck took place, about a year ago, was a mechanic workshop, without roof, but was redesigned into a beautiful storey building with befitting offices and a conference room.

    The RIWAMA’s sole administrator also revealed that before he came on board, companies operating in Rivers state were each sending N100,000 monthly to support environmental sanitation, without proper utilisation, but told the firms to stop the funds, while opting for enduring partnership and support for the agency, in form of equipment and vehicles to be branded.

    Adeogun assured that the compactor would be well maintained, while insisting that having a clean environment is a collective responsibility, in order to ensure good health and better productivity, while thanking Mobil, MADEPIN and other stakeholders for the support.

    To achieve a cleaner, greener and healthier Rivers state, all the stakeholders must collaborate and should not be seen as the job of a few persons.

     

  • ‘Natural gas to be global fastest growing fuel by 2040’

    ‘Natural gas to be global fastest growing fuel by 2040’

    American oil giant, ExxonMobil, has predicted that natural gas will be the world’s fastest growing fuel by 2040, adding that global energy demand at the same period will grow by 45 per cent while the world’s population will increase by two billion people.

    The General Manager, Deepwater Operations, ExxonMobil Nigeria, Mr. Oladotun Isiaka, stated this during the presentation of ExxonMobil’s 2014 Energy Outlook Series in Lagos. He emphasised the indispensable role energy plays in the activities of human beings and the need to reinforce efforts in making it available.

    During the presentation of the company’s survey titled “The Outlook for Energy: A view to 2014,” Isiaka stated that energy remains key in global trade and the movement of people across borders adding that billions of people across the world still rely on traditional biomass energy for cooking.

    He said the essence of the survey was to give an idea or projection on what the energy sector will look like in the next 30 years. “Our world runs on energy, which is fundamental to our way of life and growing economy. While people’s needs and modern technologies continue to evolve, so too does energy landscape,” he stated.

    According to him, ExxonMobil’s energy outlook is shared globally to broaden understanding of the energy opportunities and challenges faced in the years ahead. He said the outlook is vital and important for Nigeria as an energy rich and energy dependent nation.

    He noted that as the world population approaches nine billion by 2040, the world is challenged to not just meet basic needs but also to improve the living standard of citizens. “The scale and nature of these challenges are readily apparent in ExxonMobil’s energy outlook, which is our long term view to 2040 global forecast of energy supply and demand trends. It is important to understand the link between population growth, economic progress and the amount and type of energy used around the world,” he said.

    According to him, the outlook also reveals key finding about how people use energy, how much we will need in the future and what types of fuels would meet their demands. “As global economic output more than doubles by 2040, energy demands will increase by about 45 per cent even with significant efficiency gains,” he added.

    He said that about 40 per cent of the demand would be driven by expanding commercial activity, adding that, global energy use for personal vehicles would gradually peak in the period under review and then fall, as significant fuel economy gain offsets growth in the world fleet. “Technology is enabling the safe development of once hard to produce energy resource, significantly expanding available supplies. Oil and natural gas will supply about 60 per cent of global energy demand in 2040.

    “Today, electricity generation represents the largest driver of demand for energy, though by 2040 it will account for more than half of the rise in global energy demand. Transportation demand will rise to about 40 per cent driven by expanding commercial activity. However, global energy used for personal vehicle will gradually peak and then begin to fall,” he stated.

  • ‘ExxonMobil generates N1tr revenue yearly for Fed Govt’

    ‘ExxonMobil generates N1tr revenue yearly for Fed Govt’

    American oil giant, ExxonMobil’s Nigerian operations, generates over N1 trillion for the Federal Government, it was learnt.

    Its 2014 Energy Outlook Series that highlights contributions to economic growth, future energy supply and demand forecasts, and local capacity development, among others, made available to The Nation, showed that the Federal Government receives over N1 trillion in revenues from operations the firm’s operations.

    It showed that since 2001, it has  been contributing over N130 billion to the Niger Delta Development Commission (NDDC).

    The Act that established NDDC mandates oil producing companies operating onshore and offshore in the Niger Delta region including gas processing companies, to contribute three per cent of their total annual budget to the commission’s purse.

    An industry analyst who spoke in confidence to The Nation, said with over a N1 trillion  coming from ExxonMobil, which is not the nation’s largest producer, one will imagine the combined revenue generation from the oil and gas producing firms in the country. “We have at least five major international oil companies (IOCs) and scores of indigenous and independent oil firms yet the government doesn’t have developmental projects to show for all these receipts over the years,” the analyst said.

    The 2014 Energy Outlook Series also showed what ExxonMobil has been doing in its host community in Akwa Ibom State. The report said: “ExxonMobil over the last 10 years has contributed immensely to the economic growth of Akwa Ibom State. “Our focus goes beyond the rigs to the livelihood, social, structural and economic development of the state and its people. We pay over N6 billion on the average annually as Pay As You Earn (PAYE) tax to the state in addition to ground rent of over N230 million annually to the state government.

    “We also pay over N230 million to the state as part of our 13 per cent derivation while over N50 million on the average paid annually as tenement rate to Ibeno and Eket Local Government Areas. Our workforce comprises over 87 per cent Nigerians with over 35 per cent from Akwa Ibom while about 40 per cent of contracts awarded by the Nigerian National Petroleum Corporation (NNPC) and Mobil Producing Nigeria (MPN) Joint Venture (JV) go to companies with operational base in Akwa Ibom.”

    On the capacity building programmes which are meant to improve skills of the Nigerian workforce to world class standards, the report stated that ExxonMobil provides positions for over 300 interns yearly and more than 80 per cent of interns working in the JV operations group are from Akwa Ibom.

    It said: “We continue using the Eket Technical Training Centre to produce readily employable industry technicians. “Till date, over 626 technicians have been trained at facility, and about 83 per cent have been employed directly by NNPC/MPN JV.

  • ExxonMobil, Tenoil begin Ata field’s drilling

    ExxonMobil, Tenoil begin Ata field’s drilling

    Tenoil Petroleum & Energy Services (Tenoil), a subsidiary of Heirs Holdings, has said it has reached an agreement with Mobil Producing Nigeria Unlimited (MPN), an ExxonMobil subsidiary, for the drilling of an appraisal well on the Ata field.

    The Ata field was discovered in 1964 by MPN, the operator of its joint venture (JV) with the Nigerian National Petroleum Corporation (NNPC), and is located in block oil mining lease (OML) 68, which borders Tenoil’s block oil prospecting (OPL) 2008. Both blocks are located in shallow water offshore of the Eastern Niger Delta. The drilling will help evaluate whether there is an opportunity to jointly develop the Ata field.

    The commencement of drilling at the field represents a further milestone in Tenoil’s emergence as one of Nigeria’s leading indigenous field operators. Together with the development of OPL 281, which Tenoil operates on behalf of Transnational Corporation of Nigeria Plc (Transcorp), these field developments are important steps in Heirs Holdings’ integrated energy strategy, encompassing power generation, oil production and refining, petrochemicals and fertiliser production.

    Speaking on the development, Chairman of Tenoil, Tony Elumelu, commended MPN. He said: “This is an exemplary demonstration of genuine commitment by an international oil company to the development of indigenous capacity in Nigeria’s oil and gas sector. MPN is collaborating with Tenoil to provide technology expertise in the successful execution of this first drilling project.”

  • Malaria : FG launches fresh campaign in Rivers, Akwa Ibom

    Malaria : FG launches fresh campaign in Rivers, Akwa Ibom

    THE federal government has launched fresh campaign on prevention of malaria in Rivers and Akwa Ibom State.

    The campaign is to raise public awareness on malaria prevention.

    The initiative titled “Night watch” is the brain child of the oil giant, ExxonMobil.

    It will be coordinated by the Federal Ministry of Health and Malaria No More, a partner in health sector.

    Launching the campaign, Minister of State for Health, Dr Khaliru Alhassan, said the country’s future can only be secured when the battle against malaria is won.

    He revealed that malaria is responsible for 11% of deaths in pregnant women and accounts for 30% of all deaths in children fewer than five years.

    The minister said the initiative is apt and should be supported by all.

    He said: “The theme is very apt to our situation, given the fact, malaria is still a major threat to public health of the good people of Nigeria, undermining socio-economic development and causing the nation a whopping sum of N450 billion annually in treatment and preventive costs.”

    Alhassan also reasoned that since malaria had been successfully eliminated not only in the Western World but also in several African countries, Nigeria should not be battling the disease

    He also urged that Nigeria must use all resources within her reach to defeat the scourge.

    The minister also encouraged Nigerians to take confirmatory test before taking malaria medications.

    Alhassan condemned the idea where many pregnant women still go through pregnancy without Intermittent Preventive Therapy in Pregnancy (IPTP) “necessary to protect them and their unborn children from malaria”.

    He attributed the practices to inadequate public awareness of the strategies to controlling malaria.

     

  • ExxonMobil, banks collaborate on $8.6b contractors’ financing

    ExxonMobil, banks collaborate on $8.6b contractors’ financing

    ExxonMobil Nigeria and 12 local banks, including Zenith, First Bank, Guarantee Trust, Citi, UBA, and Union Bank, among others, are collaborating on a financing scheme that is aimed at giving contractors of the American oil major access to funds at “affordable” rates.

    At the launch of the programme tagged ExxonMobil Contractor Finance Scheme in Lagos, the Chairman/Managing Director, ExxonMobil Upstream affiliates in Nigeria, Mr. Mark Ward said the amount earmarked for the scheme is $8.6 billion.

    Ward said: “The ExxonMobil Nigeria Contractor Finance Scheme (EMNCFS) is an initiative that seeks to support Nigeria’s national content aspirations by providing ExxonMobil contractors better funding options to fulfil contracts awarded.

    “This underscores one of the three key elements of ExxonMobil’s national content programme which seeks to develop local suppliers to form a competitive base.

    “Partnering with 12 leading Nigerian banks, it is our expectation that with the $8.6 billion available under the scheme. ExxonMobil contractors nationwide would be able to access better and quicker funding options to enable them execute their contracts speedily. The cooperation of the banks has proved invaluable to the successful rollout of this scheme.”

    According to him, the scheme was introduced in November last year, adding that at least, 24 contractors have been able to access funds under the scheme. He said the company will continue to encourage more contractors to embrace the programme. “They are ensured easier access to competitive funding as well as reduced loan processing time which would enhance speedier completion of their contracts while building their capacity,” he added.

    The Executive Secretary, Nigerian Content Development and Management Board, Mr. Ernest Nwapa, who formally flagged off the programme, said operators are not accessing the Nigerian Content Fund as they ought to. He urged them to increase their access to the fund.

    He urged ExxonMobil to do more saying: “We look forward to many more years of mutual success in our collective goal to effectively develop national content in Nigeria.”

    The other banks involved in the scheme are Standard Chartered Bank, Access bank, FCMB, Fidelity bank and StanbicIBTC.