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Friday, August 9, 2013
Nigerian indigenous firm Kaztec Engineering Ltd. confirmed that the construction of a new fabrication yard at Snake Island Integrated Free Zone in Lagos is on schedule and the facility is set to begin operation in the coming month. The Snake Island fabrication yard is the centerpiece of Kaztec’s bold vision to develop a regional center of excellence providing engineering design, procurement, fabrication, installation, and project delivery of oil and gas facilities.
Kaztec is building the Snake Island fabrication yard in partnership with Addax Petroleum. The total cost of the project is estimated at $350 million. Future plans call for development of a pipe coating and pipe rolling mill to open in 2014 and a dry dock and logistics base projected to be operational in 2015. Overall investment for the entire three-phase development is anticipated to total more than $1 billion.
“Our vision is to be the first wholly-owned indigenous company in Nigeria to establish a turnkey one-stop-shop to satisfy all the project delivery needs of oil and gas companies doing business in Nigeria and throughout the Gulf of Guinea and West Africa,” said Sir Emeka Offor, executive chairman of Kaztec Engineering Ltd. “We expect to help international oil and gas companies achieve substantial cost reduction in deepwater developments and accelerate delivery of offshore platforms at reduced cost, while also strengthening Nigeria’s position as an oil and gas engineering, procurement and construction management (EPCM) services.”
When operational, Kaztec’s Snake Island fabrication yard will fabricate topside modules, jackets, and other equipment used by international oil firms.
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