Gas Group and China National Offshore Oil Corporation (CNOOC) Energy plan to invest additional $150 million (about N24 billion) in downhole tools, logistics trucks, machine shop and rig assembly in Nigeria.
Already the group has invested $50 million (about N8 billion) in the project.
The initiative of the company would empower Nigerians and global oil industry. It will create over 5,000 employment opportunities in its rig assembly, oil field services in the country.
Gliffeth Wonuigwe ,the group chief executive officer, Gas Group which is into assembling oil rigs and ancillary equipment in the country disclosed during a tour of the company’s Warehouse at Kidney Island in Port Harcourt Rivers State by officials of the Nigerian National Petroleum Corporation and executive members of the International Oil Companies (IOCs) that his company has more plans to make the operation of oil companies in the upstream more seamless than what it is now by making available all that is required to make their operations less stressful.
He explained that the joint investment started with the signing of a strategic integrated agreement with CNOOC in Tiangin China 2012. The agreement signed by between the two companies covers joint operation of downhole tools stocking, fishing and well completion services and logistics.
The venture is being executed through First Atlantics Drilling Services Limited, a subsidiary of Gas Group in collaboration with CNOOC Energy Group. CNOOC group is a Chinese group with over 30 billion dollar revenue in exploration and production and associated integrated services.
“The Second Tier is the investment of $150 million in rig assembly plant at Kidney Island eastern area. The service will be executed by Houston based IDE and Load craft,” he announced.
Gasgroup/CNOOC Energy through First Atlantics Drilling and support Service Limited is to create a niche in oilfield services with effective stocking and sales of downhole tools, rig movement, well completion, decommissioning, haulages of heavy oilfield maintenance equipments, drilling services, provision of cranes services, forklifts, casing and tubing among others. It’s an integrated support services located in Kidney Island a mini Port design for major logistic support for the oil and gas industry.
“We have invested over $50 million in the first phase as you can see physically on ground which informed this facility tour. We took a delivery of 10 million dollar worth of tools and trucks and another shipment of 40 million dollars will arrive at Nigerian ports at the end of March,” he said.
He said this strategic relationship was re –enforced in Beijing during President Good luck’s meeting with the Chinese president Shin Jin Pin last July to strength Nigeria/Chinese bilateral relationship.
“So, we hope that in the next six months, the milestone we are going to record will begin to look like a mini Houston,” he assured.
During the inspection of the facility, Fidel Pepple, the group general manager, National Petroleum Investment Management Services (NAPIMS) who represented Abiye Membere (GED E&P) said the tour of the JV is the beginning of exciting activities in the Nigerian oil and gas industry. He pointed out that there is need to encourage companies adding value to the implementation of Nigerian Content in the oil and gas industry. “I am here to participate in the facility opening because Gas group has been adding value to the oil and gas industry in terms of consistent empowering of Nigerians through the technical partners by providing expertise for the transfer of technology to Nigerians,” he said.
Pepple urged IOCs to support the investment made by Gas Group in-country by patronising the logistics base of the company at the Kidney Island.
“For Nigerian companies to grow so that we can develop adequate capacity in-country for all projects, it is necessary for the IOCs to support all Nigerian companies,” he added.
By: Olusola Bello
