The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote has commissioned two Snubbing Rigs/Hydraulic Workover Units – ISS 340k and ISS 460k – acquired by TECON-NIGERBLOSSOM Group, an indigenous oilfield services company.
The company executes several activities, including Oil Well Fishing, Casing and Tubing Running, Oil Well Snubbing/Hydraulic Workover Services, Machine shop/Tool Fabrication and many others. The company had provided services for multinational companies within Nigeria and in countries such as Congo and Ghana.
Speaking at the event, the Executive Secretary commended TECON for acquiring the assets despite the huge capital outlay and skills required to operate them safely.
He noted that about 300,000 barrels of crude oil are locked-in and require well intervention techniques such as snubbing to unlock.
He expressed the Board’s excitement that the unique area of need had got the attention of a local company to help access some of the industry’s locked-in production.
He emphasized that asset ownership represented one of the key yardsticks used by NCDMB to define a Nigerian company as contained in the provisions of Nigerian Content Act. “Acquisition of these types of assets buttresses the point that there are genuine Nigerian businesses that are not middlemen or commission agents but are truly on ground and are positioned to offer top-notch services in-country,” he added.
Wabote also hailed the company’s expansion plans, including the development of an Energy Park at the Oginigba Waterfront, which will serve as multi-service center for Fabrication, Supply Base, Marine Construction and Machine shop.
He stated that “the Board is proud to identify with this type of growth mindset because it tallies with our 10-year strategic roadmap aimed at increasing the level of Nigerian Content in the oil and gas sector from current levels to 70% by the year 2027.”
In a related development, the Executive Secretary visited Xirea Apparel in Port Harcourt as part of the efforts to assess in-country capacities in the oil and gas sector.
Speaking during the visit, the Chief Executive Officer, Aerix Group, Mr. Obinna Frederick Eneh said the company was established to “serve independent clothing brands, organizations such as the Military, Oil & Gas companies and E-commerce retailers by satisfying their garment sourcing and production requirements”.
In his response, the NCDMB chieftain commended the company for employing young Nigerians, especially women and training them in the business of industrial garment manufacturing.