FG supports LADOL’s partnership with Chinese firm in offshore development

Efforts to make Nigeria a hub station for Oil &Gas exploration in the West African sub-region received a boost in far away China last week as the Federal Government brokered a major partnership deal between the Lagos Deep Offshore Logistics services provider (LADOL) and the Chinese Offshore Oil Engineering Company Limited LADOL (COOEC), in developing the industry across the nation.
The offshore agreement which was signed under the watchful eyes of Nigeria’s Minister of Trade and Investment, Dr. Olusegun Aganga, was one of the nine key collaboration and development agreement signed between the two countries in Beijing China at the China Nigeria Business Forum on 11 July 2013.
The occasion which was hosted by President Goodluck Ebele Jonathan, also had in attendance three other prominent members of the Federal Executive Council including the Minister of Petroleum Resources Dr. Dieziani Alison-Madueke; Minister of Aviation Princess Stella Odua; and Minister of Mines and Steel Development, Architect Mohammed Musa Sada.
The agreement between LADOL and COOEC is for a long-term collaboration in jointly planning and developing strategic infrastructure in key parts of Nigeria that will help achieve LADOL’s core mission of making Nigeria the Hub for oil and gas and maritime activity in West Africa.

COOEC is the leading EPCI contractor in Asia Pacific and has carried out several ground breaking projects in Asia.
According to Dr. Jadesimi, the choice of COOEC for the partnership deal is informed by the Chinese company’s pedigree in local content development.
“COOEC’s technology, experience and focus on creating real local content in Nigeria makes it an ideal partner for LADOL, which is the only 100% indigenous Nigerian facility developer and operator in Nigeria”, she said.
Dr. Jadesimi noted that “LADOL has proven itself to the maritime and oil and gas sector, where it has a reputation for delivering round the clock services in a cost effective, safe and reliable manner – making Nigeria an attractive location for work that has previously never been done in the African Continent, such as large scale Rig and Semi-submersible repairs.”
She further disclosed that the two companies plan to create tens of thousands of new jobs and generate hundreds of millions of dollars in new revenues for the Federal Republic of Nigeria.
“The strategic importance of Nigeria becoming West Africa’s Hub has never been greater. As Africa’s most populous nation, surrounded by countries making their own oil and gas finds and building their own infrastructure, Nigeria must rapidly build and operate the strategic infrastructure needed to make it the Hub for West Africa”, Jadesimi added.

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