New Nigerdock CEO, Durotoye outlines vision for company

Nigerdock’s Managing Director/CEO, Mr. Pade Durotoye, in an interview with THISDAY reveals the company’s role in the topside fabrication of the Egina FPSO and its local content drive, which saw it engage over 5,000 Nigerians in the mega project and also shares his immediate and long-term plan to reposition the company as a partner of choice in the oil and gas service industry.

On his short-term and long-term vision for the company, he said;

“In 2014, the oil industry went into oil price and activity slump and we are just beginning to recover. All the service companies in the industry right now are still going through a very difficult period. There is still not enough activity. Therefore, my primary responsibility in the short-term is to focus on winning new contracts and increasing profitability while ensuring whatever assets and contracts we already have are fully leveraged.”

“In the long-term, we need to reposition Nigerdock. Nigerdock started out as a shipyard, and very quickly in 2007, we became a fabrication leader. Before then, nearly all the topsides and jackets in the country and offshore were imported, largely from Asia and the US.”

“In the long run, our goal is to change Nigerdock to a production systems company, not just the fabrication of topsides, but also their maintenance, upkeep, modification designs and reconfiguration. Whatever production systems help our clients remain optimum in their cost and in their efficiency, we will seek to bring to them.”

“Furthermore, Snake Island Integrated Free Zone has full port status similar to any cargo port, which allows us handle international marine traffic direct to Nigerdock. The Free Zone has customs, port health, immigration and all the full requirements to import into Nigeria and clear goods faster and better. If fully functional, this will ease the traffic at other terminals, where vessels have to stay offshore and wait for a rotation number.”

On the role Nigerdock played in the Egina project, he noted;

“FPSO construction and integration is a very complex project and there are many bits and pieces to it. We were fortunate to be one of the contractors that provided certain aspects of the construction of the Egina FPSO. We built about 7,500 tonnes of what we call the appurtenances, these are the helideck, riser porches, bumpers, various aspects of that FPSO which were shipped to the Samsung yard in Korea and Nigeria for installation and integration on the FPSO. The 7,500 tonnes performed by Nigerdock for the Egina FPSO was the highest amount of fabrication by any yard on the Egina contract in Nigeria.”

Source: THISDAY

 

 

 

 

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