By Michael Eboh

OBIJACKSON Group,  parent company of Nestoil Limited, said it had adopted far-reaching measures to substantially cut its costs, especially as it plans to venture into the deep offshore segment of the petroleum industry.

In an interview in Abuja, Mr. Chris Ijeli, Group Head, Business Development, Nestoil Limited, said the Obijackson Group is planning an optimization of its processes, both in construction, fabrication, so that it can cut down its cost and be competitive, not only in Nigeria, but also in the sub-region.

He said, “In Nestoil, we are also planning to go more into deep offshore and also build into platform facilities and offshore facilities.   The bottom line to this is optimization of our processes. If we optimise our processes, we will become very competitive.

All the operators are talking about low cost, high quality, but once we optimize, which is what we are doing now, we would become very competitive, we would have businesses. Even if oil price is $20, we are there; our services would be there for people.

“We are deploying more equipment, we are training people to be more efficient and by that we are optimizing all our processes.”

Ijeli stated that the company had already begun increasing its capacity by its optimization, explaining that it is only through this process that nit can improve its efficiencies and compete.

Also speaking, Mr. Simeon Tor-Agbidye, Assistant General Manager, Group Business Development, Nestoil Limited, said the Group has fields that have huge capacity, which had not been fully utilized.

“To get utilization, we need to have these optimal processes that were described to be able to keep up, to keep growing our production; to keep that production coming. That is the only way we make money, we keep our staff, we keep people off the streets and the government make money as well,” he said.

On its plans for the future, Tor-Agbidye said the company is positioning to tap into the forthcoming opportunities presented by the Zabazaba field, promoted by ENI.