Key players in the oil and gas sector in African have formed an alliance to institutionalize mechanisms among oil producing countries on local content for domestication and sustainable growth of Africa’s hydrocarbon resources.
At the 1st African Local content round table conference in Yenagoa, Bayelsa State, they said the initiative was to the tackle poverty burden of Africa by fully harnassing natural resources domiciled in the continent.
The Nigerian local content Tower was the venue for the maiden round table discussion of prominent personalities in the oil and gas industry cutting across countries in the African continent.
They had come to share ideas concerning local content and to formulate policies that will strengthen participation and drive development of local content.
Keynote speakers shared their concerns on the domestication and sustainable growth of Africa’s hydrocarbon resources amidst the prevailing economic downturn.
The out come of the round table conference is also expected to strengthen bonds among oil producing countries in the Sub-Sahara African region in view of the continental free trade zone.