By Abisola THOMPSON
Nestoil Limited has suggested ways to transform local oil companies in the country into regional powerhouses capable of growing the economies of the West African countries and the whole of Africa.
The Group Managing Director, Dr. Ernest Azudialu-Obiejesi stated that collaboration among the oil companies will open them up to lots of opportunities springing up across the new frontiers in the industry.
He revealed this at the West African International Petroleum Exhibition and Conference (WAIPEC), where he was a member of the panel to discuss how Indigenous contractors can be transformed into regional powerhouses.
Obiejesi noted that collaboration which can be through a ‘Central hub model, Multiple hub models or that of Pure Organic model’ when adopted will reduce rivalry among local firms which will save cost, increase expertise and shared values to the partners.
He outlined the benefits accruable to other oil companies through their 59-hectare base in Abuloma, Rivers state where a lot of fabrication activities go on with dockyard availability, and how other firms can benefit through their contracts, using the facility therein and move the products when done instead of thinking to expend extra costs due to non-availability of the facility to them.
He said there is a huge opportunity inherent in the West African market yet to be tapped as if there was no market there would be no opportunity, but the availability of market is why transformation is being touted.—–The Nation
