The Nigerian oil and gas industry is poised for a significant shift towards deepwater exploration and production, presenting both challenges and opportunities for indigenous service providers. Felix Ogbe, Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), has emphasized the need for established Nigerian companies to strategically position themselves to capitalize on the burgeoning deepwater sector. Ogbe’s call to action came during an inspection tour of West African Ventures Nigeria Limited (WAV), a prominent indigenous oil and gas service company, highlighting the importance of local capacity development in meeting the industry’s evolving demands. The NCDMB’s focus on deepwater participation reflects a broader national strategy to maximize the economic benefits of Nigeria’s hydrocarbon resources.
Ogbe’s visit to WAV’s facilities in Onne, Rivers State, provided a firsthand assessment of the company’s capabilities, including its fabrication yard, machine shop, and jetties. He lauded WAV as a model of local content development, demonstrating the potential of Nigerian companies to undertake complex projects in the offshore and deepwater domains. The NCDMB boss was particularly impressed by WAV’s infrastructure, which includes a rolling mill, ocean-going vessels, a substantial fabrication yard, heavy-duty cranes, and the JASCON 8 load-out equipment. This comprehensive array of resources, Ogbe noted, positions WAV to effectively compete with international contractors in the deepwater arena. He underscored the NCDMB’s commitment to transparency and professionalism in contract awards, emphasizing that Nigerian firms possess the technical expertise and operational experience to secure and execute deepwater projects through competitive bidding.
West African Ventures, with over four decades of experience in the Nigerian oil and gas industry, boasts a strong track record of project delivery and human capital development. Managing Director Michael Amaeshike underscored the company’s long-standing contribution to local content development, emphasizing WAV’s role in shaping the careers of numerous professionals across various disciplines, including engineering, maritime operations, procurement, and construction. Amaeshike highlighted a recently completed infrastructure project for a marginal field operator as further evidence of WAV’s ability to handle complex industry demands. The company’s commitment to local content aligns with the NCDMB’s broader objective of maximizing Nigerian participation in the oil and gas value chain.
A technical overview provided by WAV’s Fabrication Manager, Chimeziri Onwukwe, detailed the company’s extensive operational capabilities, which encompass the fabrication of platforms, jackets, modules, tanks, and other crucial oil and gas structures. Onwukwe emphasized WAV’s integrated operations, supported by advanced machinery for pipe profiling and plate cutting, and an offshore base providing logistics and marine load-out services. However, he also expressed concern about the relatively low patronage from industry operators despite WAV’s significant investments and proven track record. Onwukwe appealed to the NCDMB to raise awareness of WAV’s capabilities to attract more projects, highlighting a common challenge faced by indigenous companies seeking to secure a greater share of the market.
Ogbe responded with an assurance that the NCDMB would continue to champion indigenous companies with demonstrated expertise, particularly in the context of Nigeria’s strategic focus on increasing local participation in high-value deepwater operations. He emphasized that companies like WAV, with decades of experience and established capacity, are well-positioned to play increasingly significant roles as the industry evolves. This commitment from the NCDMB underscores the importance of fostering a supportive environment for local companies to thrive in the increasingly competitive deepwater sector.
The push towards greater local participation in deepwater activities comes at a crucial time for Nigeria’s oil sector, which faces mounting pressure to boost production and attract investment. Stakeholders believe that leveraging indigenous capabilities in the deepwater space can unlock significant economic growth for the country. For WAV, the NCDMB’s renewed call to action represents an opportunity to solidify its position as a leading Nigerian oil and gas service provider, capable of competing effectively on the global stage. The company’s commitment to local content development, coupled with its technical expertise and extensive infrastructure, positions it to play a pivotal role in Nigeria’s deepwater future. The success of WAV, and other indigenous companies like it, will be crucial for Nigeria to realize the full potential of its deepwater resources and maximize the economic benefits for the nation.
