NigerStar 7’s Nigerian investments driven by local content laws

With the enactment of the Nigerian Oil and Gas Industry Content Development Act 2010, which was signed into law in 22 April 2010, indigenous Nigerian companies such as NigerStar 7, started making inroad into Nigerian maritime, as well as oil and gas industries by breaking the jinx of foreign dominance in the sector.

The Local Content Act has also encouraged Nigerians like the owners of NigerStar7 to invest their money in-country into building infrastructure, asset and human capital development that would enable them to compete in oil servicing business.

NigerStar 7 is a Nigerian company that brings together the engineering, installation and project management expertise of Subsea 7, the global seabed-to-surface company in Nigeria, with the fabrication capacity and capability of Nigerdock, a subsidiary of Nigeria’s Jagal Group.

Based in Lagos, NigerStar 7 is dedicated to serving Nigeria’s offshore oil and gas industry by enabling the execution of the largest and most complex EPIC deep-water projects. Recently, the company officially renamed and launched its newly acquired vessel, NigerStar7 Adaba, to boost capability in the maritime segment of the oil and gas industry.

Described as the most powerful Nigerian flagged DP2 Anchor Handler (140mT bollard pull) and owned by a Nigerian company to operate in Nigerian waters, NigerStar7 Adaba has a 52-passenger-on-board accommodation capacity, 460m² deck space, and an Electronic Fuel Monitoring System.

Source: THIS DAY

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