One major goal of governments in the sub region is to optimize the exploitation of petroleum resource endowments for the overall benefit and welfare of their citizens in a sustainable manner. A major challenge in meeting this policy goal is; how to develop the oil and gas industry with optimal local content and participation to enhance national development and job creation. In this regard, the key policy objective is to maximize national value creation along the petroleum value chain, through employment, value creation, and transfer of knowledge and technology.

Regrettably, despite huge sums of money spent annually on projects in the oil industry, very little proportion of the accruable profit is available to indigenous oil service companies or invested in developing the nations’ industrial base.

Following this historical antecedent, developing oil producing countries are now seeking for more than just economic rent; they have adopted local content policies to boost the participation of citizens and to enhance value addition and Ownership to achieve a desired critical mass in the oil and gas value chain Petroleum Corporation – in every oil licence.