A Review of the Nigerian Energy Industry

Nestoil hits 30,000 barrels daily production

Nestoil personnel.
Nestoil personnel.

02 January 2015, Port Harcourt — Nestoil, one of the indigenous players in the oil and gas industry, has said its daily production of crude has risen from 7,000 barrels to 30,000 barrels per day.

The company said the feat was just one of its numerous achievements in 2014 as it also recorded remarkable achievements in various sectors of its operations.

The Chief Executive Officer/Group Managing Director of Nestoil Plc, Dr. Ernest Azudialu-Obiejesi, made the disclosure in Abuloma, Port Harcourt at an end-of-year celebration of the company.

Addressing journalists at the side-line, Azudialu-Obiejesi said the company achieved its feat because of the hard work and dedication of the staff.

He said, “This year has been a very important year for the company and the group as a whole. You see, we had a lot of achievements this year; and one of the achievements have been in the E&P business.

“We were able to grow our production from 7,000 barrels per day to almost 30,000 bpd in our company called Neconde Energy. It is remarkable. Even though the price of oil in the international market is going down, we believe it is a trend that will come and go. So, for Nestoil, it is a very big achievement.

“Then, also we have got a lot of contracts in the EWT, ie Energy Works Technology, another arm of the company where we do fabrications for other companies.

You can see our facilities are growing: we are developing this yard and we just got our dry dock vessel from overseas. So, it is all growth in different directions.”

He said the company decided to celebrate the achievement as a way of encouraging its workers to be more dedicated so that the company would achieve greater heights in the coming years.

“We decided to celebrate today and also use the opportunity to recognise some members of staff that have distinguished themselves in the activities of the company over the years,” he said.

He also said the company would in the coming year expand its celebration by bringing its staff from all its branches together to achieve better social interaction among its work force.

“Today is a very important day in the history of Nestoil. This year we decided to host a party for all the staff in Port Harcourt and their families. From what I have noticed since I stepped into this hall, it is very clear that in the coming years, we are going to stretch out this occasion to all the branches so that other members of staff in Warri and Lagos will have the opportunity of coming together to interact with one another in a social atmosphere,” he said.

He called on the workers to be more dedicated, adding that the company would continue to reward dedicated and excellent workers as a way of encouraging them to perform better for the interest of the company and its work force.

Giving an insight to the company, Azudialu-Obiejesi said, “This Company has been in existence for over 20 years. What we started as a very small business in one flat in GRA, Port Harcourt has grown into a very big iroko tree. But the story of Nestoil will never be complete without the support and hard work of workers who have toiled day and night to make sure that we sustain this growth.

“We have set today, to recognise staff who have in one way or the other excelled either by sustaining the job and assignments they were given, or by making sure that they survived the turbulence of growth in human endeavour.”

Nestoil Plc was incorporated in Nigeria in 1991 for the provision of Engineering, Procurement and Construction (EPC) services to the energy and oil & gas industry. Since then, Nestoil has grown to become one of the leading indigenous EPC providers for major international oil companies (IOCs) in sub-Saharan Africa like Nigerian National Petroleum Company (NNPC), Shell, Exxon Mobil, Chevron, Total, etc.
*Ernest Chinwo – Thisday

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