To meet the growing needs of the energy and transportation sectors and beyond, an indigenous firm, Pacegate Energy and Resources Limited (PEARL), an arm of Pacegate Limited, has launched a plant where drilling chemicals, water and oil-based production chemicals are formulated and manufactured.
The feat is in conjunction with energy solutions provider, Canadian Energy Solutions (CES).
The deal will position PEARL to formulate ecofriendly products and provide innovative treatment chemicals and application technology services to oil and gas exploration and production platforms, refineries, petrochemical plants.
PEARL’S General Manager Franklin Oranusih said the firm was established to solve industrial challenges with innovative solutions and partnerships.
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“We have a commitment to deliver quality and eco-friendly products as we continue to play our part in supporting local content in Africa.
As the oil and gas sector continues to grow, it is expedient that we consider the effect it has on the environment, among others. This partnership is a sign of our commitment and we are delighted to announce it,” he said.
On the partnership, the Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, said there was the need for innovative partnerships to boost local content.
Adebayo noted that the feat represented a landmark for the country’s industrialisation programme, especially when it is remembered that the domestication of products has been at the centre of the government’s industrialisation programme to drive job-intensive growth of the economy.
“It will increase local production, create jobs and improve our foreign exchange reserve position. This will help in taking us ahead in our effort to diversify the economy and increase the contribution of the manufacturing sector to GDP. The plant will provide jobs to Nigerians, promote local content, and save the extra cost of importing the now locally-produced input,” he said.
Also, the Executive Secretary of NCDMB, represented by the General Manager, Project Authorisation and Certification, Paul Zuhumben commended the effort of Pacegate Energy Resource Limited for investing an installed capacity of 12.9 metric tonnes into the manufacturing of chemicals solutions aspects of the hydrocarbon value chain in Nigeria.
