Shell Companies in Nigeria has stated that they awarded contracts that are about $1.98 billion to indigenous companies in 2023 as part of steps taken to enhance local content in the Nigerian oil and gas industry.

The contracts were awarded by the Shell Petroleum Development Company of Nigeria Limited (SPDC), Shell Nigeria Exploration and Production Company Limited (SNEPCo), and Shell Nigeria Gas (SNG).

SNEPCo’s Managing Director, Ron Adams, made this known at the 13th edition of the Practical Nigerian Content forum in Yenagoa, Bayelsa State.

Adams informed participants that many benefitting companies had taken advantage of the patronage to grow their businesses.

He stated: “Shell companies execute a large proportion of their activities through contracts with third parties, and Nigeria-registered companies have been key beneficiaries of this policy aimed at powering Nigeria’s progress.”

Adams continued that Shell companies also implemented projects under the Human Capital Development Fund, including the Niger Delta University learning centre and digital library project and the Federal University of Technology Information Technology Hub.