Local content is the development of local skills, technology transfer, and use of local manpower and local manufacturing. For a more practical definition, one could say that local content is building a workforce that is skilled and building a competitive supplier base. It has become a very important issue due to the fact that in this day and age, every country would like its citizens to capture the commanding heights of its economy and thus assist to keep its wealth within its borders, as well as providing jobs to the ever increasing population. This is achieved through capacity building, creating SMEs as well as offering products and services locally. It can be argued that in developing countries, local enterprises are the drivers of economic activity and development. Whereas the technology gap between developing and developing countries is widening, the spread of local technologies in developing countries is being fast-tracked.
Petronash has a commitment to playing its part in ensuring that the success of the oil and gas industry brings transparent and tangible benefits to local people and national economies where it operates.
Our commitment, supported by ethical and responsible business practices, will help us to achieve a sustainable and competitive local supply chain for Petronash, building futures in the countries where we operate.