Business

Sterling Bank plc wins PETAN’s award on Local Content

Sterling Bank Plc has clinched the Local Content Bank of the Year 2019 Award of the Petroleum Technology Association of Nigeria (PETAN).

The award was won in recognition of its outstanding contribution to the growth of indigenous companies in the oil and gas industry, The Nation reports.

PETAN is an association of indigenous technical oilfield service companies operating in the upstream and downstream sectors of the Nigerian oil and gas industry.

The award was presented to the bank at PETAN’s 14th Annual Oil Industry Achievements Awards Dinner which held in Lagos recently with the theme, “The oilfield of the future operational excellence.”

Head, Upstream Oil and Gas of Sterling Bank, Dr. Luka Marne, who received the award on behalf of the bank from the Chairman of PETAN, Mr. Bank Anthony Okoroafor, remarked that the recognition will encourage the bank to continue to support operators in the industry.

According to him, “We are excited to receive the prestigious Local Content Bank of the Year 2019 Award from Petroleum Technology Association of Nigeria. This award recognises the commitment of the Corporate and Investment Banking Directorate at Sterling for supporting the Nigerian Local Content initiatives. We are proud of this award and will continue to seek innovative ways of boosting local content in the Upstream, Midstream and downstream sub-sectors of the Oil and Gas industry.”

In his welcome address, Mr. Okoroafor said PETAN remains committed to partnering with all stakeholders to create the enabling environment for the industry to thrive.

He said PETAN is made up of Nigerian indigenous oilfield service companies and was founded to utilise the technical know-how acquired in the oil and gas industry by Nigerians as a springboard for economic and technological advancement.

According to him, PETAN companies employ over 20,000 engineers and other technical personnel with a direct employment of about 80,000 people. PETAN companies also offer 250 distinct technical services to the Nigerian oil industry and many of these companies now offer similar services in Mauritania, Ghana, Cameroun, Equitorial Guinea, Congo, Gabon, Chad, Angola, South Africa, the Middle East, South East Asia and the United States..

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