14 November 2011, Sweetcrude, Lagos – Jagal and Subsea 7, two major groups providing services to Nigeria’s oil and gas industry, have today announced the creation of a joint venture company, NigerStar 7.
The purpose of NigerStar7 is to provide a credible solution to the oil companies that allows them to execute large and complex EPCI projects locally in Nigeria.
Based in Lagos, NigerStar 7 is majority owned by Nigerian shareholders.
The joint venture combines engineering, fabrication, installation and project management expertise of Globestar (Subsea 7’s Nigerian subsidiary) and fabrication capability and capacity of Nigerdock (Jagal’s subsidiary). This combination allows the new company to meet client needs for both subsea and topside construction and maintenance as well as pipelaying.
The new company has:
• A combined work force of over 3,000 experienced people located in Lagos, Port Harcourt and Warri to manage Nigerian projects,
• Two fabrication yards, in Lagos and Warri, with capacity to handle Nigeria’s largest offshore projects
• The support of Subsea 7’s offshore construction fleet, one of the largest in the industry,
In providing these services and investing in Nigeria’s oil industry, NigerStar 7 is committed to the development of Nigerian jobs and skills. NigerStar 7 is a major example of the effects of the Nigerian Content Act to build the nation’s industrial capability in the oil and gas industry.
Commenting on the joint venture, Valentine Ugbeide, NigerStar 7 Director for Business Development, said: “NigerStar 7 is a powerful initiative to create a Nigerian company, to build on Nigerian facilities and capable of tackling the most serious challenges in the nation’s offshore industry. This is a company that is committed to the growth of Nigeria’s industrial competence.”
