Oando to Complete Rig Repair in June …NCDMB pledges support to company’s capacity building


Media Team

Latest Post

Oando Energy Services’ swamp drilling rig, nicknamed “OES Respect” is expected to arrive Nigeria in June this year after undergoing major refurbishing at Beacom Maritime’s yard in Orange, Texas, United States.

Speaking while taking a team of the Nigerian Content Development and Monitoring Board round the asset on Thursday, May 9, Chief Executive Officer of Oando Energy Services, Mr. Dele Badejo explained that the company acquired the rig formerly known as Searex V1 in 2007 and renamed it “OES Respect.”

He said the company engaged Beacon Maritime in December 2011 to execute a 15-20 years lifetime refurbishment and upgrade on the asset, adding that the same company had carried out modifications on the rig in 1990.

“Between 2007 and when the refurbishment and upgrade project commenced in December 2011, the rig was stacked due to slow start of operations in the Niger Delta mainly due to security concerns and the need to carry out extensive work on the rig before deployment.”

Noting that the rig had previously drilled 55 wells for Shell, Chevron and Agip in the Niger Delta when it was still named Searex V1, Badejo said “OES Respect” will return to Nigeria fully refurbished and available for immediate deployment.

According to him, Oando Energy Services embarked on the refurbishment project in a bid to support the Federal Government’s objective to increase daily crude oil production target to 2.45 million barrels, meet reserves target of 40 million barrels and 5.95 trillion cubic meters of gas.

Other drivers for the project includes Oando’s ambition “to meet increasing demand for swamp rigs due to the Nigerian Oil and Gas Industry Content Development Content Act, which limits participation in land and swamp operations to indigenous companies.”

The CEO described Oando Energy Services as a strong indigenous player which had demonstrated capacity and capability in operating three assets for Agip and Shell.

He added that the company had invested over $450m in the acquisition and refurbishing of assets and had operated without a Lost Time Incident (LTI) since commencing operations in 2009.

The company was also motivated by the need to increase the technical specifications of the rig to meet the requirement of operators.

Some of the major activities to be carried in the refurbishment include steel works, upgrades, mud system/ bulk system, electrical and mechanical renewals.

Other major repairs to carried out are accommodation upgrade, inspection and surveys, painting of the rig, renewals of all drawings, equipment manuals and technical literature and production of operations manual.

Speaking after going round the asset, Director of Monitoring and Evaluation, NCDMB, Mr. Tunde Adelana commended Oando Energy Services for acquiring hi-tech assets needed for operations in the Oil and Gas industry.

He also pledged NCDMB’s support towards ensuring that the rig gets engaged on its return to Nigeria.

Adelana added that the company’s efforts had justified NCDMB’s campaign for Nigerians to acquire hi-tech assets and take advantage of the opportunities provided by the Nigerian Content Act.

In his comments, the Director of Planning, Research and Statistics, NCDMB, Mr. Patrick Obah charged Oando carry out its next rig repair in a Nigerian yard, noting that the repair activities will create many economic benefits, including employment and training opportunities.



Leave a Reply

Your email address will not be published. Required fields are marked *

Freedom of Information Act