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Nestoil Ventures Into Deep Offshore, To Adopt Cost-Cutting Measures

Nestoil Ventures Into Deep Offshore, To Adopt Cost-Cutting Measures

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, Vanguard reports.

In an interview in Abuja, Mr. Chris Ijeli, Group Head, Business Development, Nestoil Limited, said the Obijackson Group is planning to go more into deep offshore and also build into platform facilities and offshore facilities. To do this he said it is planning an optimization of its processes, both in construction and fabrication, so that it can cut down its cost and be competitive, not only in Nigeria, but also in the sub-region.

Also speaking, Mr. Simeon Tor-Agbidye, Assistant General Manager, Group Business Development, Nestoil Limited, said on plans for the future that the company is positioning to tap into the forthcoming opportunities presented by the Zabazaba field, promoted by ENI.

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