Shell Awards Major Pipeline Contract to Nestoil Limited
Nestoil Limited is continuing in its tradition of being the foremost indigenous Oil and Gas company in the country by signing yet another pipeline construction contract with Shell Nigeria Petroleum Development Company (SPDC), in a move that could be seen as a huge vote of confidence by Shell in the continuous achievements of Nestoil.
The multi-billion Naira contract, signed on Friday, June 21 2013 at the Shell Industrial Area, Rumubiakani, Port Harcourt, is for an export pipeline in the Niger Delta to reroute the Kolo Creek gas to Soku Gas plant (K2S). After a keenly competitive bid, Shell awarded the contract to Nestoil who would, under the scope of the project, execute the EPCIC - Engineering, Procurement, Construction, Installation and Commissioning of a 20-inch, 40 kilometre gas pipeline which would run from Kolo Creek to Soku, in Bayelsa State. The project is being funded by Zenith Bank and is expected to be completed in 2 years.
Nestoil Limited, the largest indigenous company in the Oil and Gas sector, has been a significant contributor to the industry in the past 22 years. In recent years, International Oil Companies (IOCs) have flocked to Nestoil, attracted by its capacity to deliver results on technically complex projects from its world-class industrial base in Abuloma, Port Harcourt, Rivers State, and also its understanding of the local terrain, particularly with the Niger Delta. The scale of Nestoil’s operations has been regarded as a catalyst to increased local participation in Oil and Gas. Nestoil Limited, a diversified Oil and Gas company, has invested heavily in Engineering and major offshore fabrication. The company belongs to the formidable conglomerate, The Obijackson Group, which has extensive interest in Exploration and Production (E&P), Pressure Vessel Fabrication, Power Generation, Dredging and Marine Logistics, Aviation, Civil and Infrastructural construction and Real Estate.
With very strong financial standing and sound Corporate Governance, the Obijacskon Group, headed by the inimitable Dr. Ernest Azudialu-Obiejesi, remains the fastest growing business conglomerate in Sub Saharan Africa.