Nestoil subsidiary has technology to track Nigeria’s real daily crude oil production—Eze
Managing Director, IMPac Oil & Gas Engineering Limited, a subsidiary of the Nestoil Group, Chuka Eze, has revealed that the company currently has an innovative technology capable of tracking on a daily basis, Nigeria’s crude oil production.
Before now, the controversy on true daily output of Nigeria’s crude oil production has been a key challenge for the government and players in the upstream oil and gas sector.
Explaining more during a tour of the Group’s facility, he averred that the Group’s team of engineers has performed a rare feat in the operation of the OML 42 oil field by devising an efficient system of separating gas oil and water at the Odidi and Jones Creek flow stations.
Eze made it clear that “If this technology were adopted throughout the entire oil and gas sector, it would be easy to actually ascertain Nigeria’s true production of crude oil.”
Business Hilights recalls that details gathered from the recent report by the London Stock Exchange Group, titled; ‘Companies to Inspire Africa’, listed Nestoil, Energy Works Technology and B&Q Dredging as companies that will lead Africa’s growth in the next decade.
Shipside Drydock Limited, another subsidiary in the Group, also recorded the completion of an ultra-modern fully furnished training centre with a capacity for 100 students at a time. The training facility will serve the entire O&G industry for training engineers, welders, machinists, fabricators, among others.
The Nigerian Content Development and Monitoring Board (NCDMB), is said to be working with Nestoil Group to adopt the school.
Eze further disclosed that IMPac Oil & Gas Engineering Limited and the entire group were operating well under capacity at a time successive governments have continued to promote local content in the oil and gas industry.
According to him, “For example, Energy Works Technology Limited (EWT), another subsidiary has the capacity to fabricate over 12,000 metric tonnes of pressure vessels, Christmas trees, among others, for local and foreign companies, but is currently producing less than 20 per cent of that capacity.
“IMPaC (an engineering design and management company) has capacity to deliver 400,000 man hours per annum but is currently delivering about 54,000 man hours.
“The company had already carried out a detailed design of Forcados/Yokri Integrated Project New Onshore Scope, Okoloma Gas Plant & Pipeline Project, Afam Gas Receiving Plant Onshore, Built Generation 3D Laser Scanning Deep Offshore and Bonga FPSO Topside & Hull 3D Laser Scan.
Eze explained that the entire Nestoil Group of Companies (about 13 respective companies) has created well over 2,000 direct jobs and over 5,000 indirect jobs.
The subsidiaries are: Nestoil Limited, Energy Works Technology (EWT) Limited, IMPaC Oil & Gas Engineering Limited, Hammakopp Consortium Limited, B&Q Dredging Limited, NestHak HDD Limited, Shipside Drydock Limited, Scorpio Drilling Limited, NestAv Limited, Century Power Generations Limited and White Dove Shipping Company Limited.
