Breaking News

NigerStar 7 JV to create 3,000 jobs

Jagal and Subsea 7, two major oil and gas services groups in Nigeria last week announced the creation of a joint venture company, NigerStar 7 that will generate no fewer than 3,000 jobs for Nigerians.

The jobs would be created from a combination of projects in different locations in Lagos, Port Harcourt and Warri to manage oil and gas projects in country.

Other facilities include:

• 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,

The JV partners explained that the purpose of NigerStar7 is to provide a credible solution that allows oil companies them to execute large and complex Engineering, Procurement, Construction, and Installation, 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 subsea and topside construction and maintenance as well as pipe laying.

NigerStar 7 reiterated its commitment to the development of skills in Nigeria, and 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, NigerStar 7, Director, Business Development, Mr. Valentine Ugbeide, 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.”


Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.