By Akpelu Paul Kelechi
SellyFak Energy, the Nigerian oilfield engineering Service Company, is angling for a significant share of the fabrication, corrosion and control segment of the Nigerian oil and gas industry
“That sector is worth $400Million”, says Stanley Fagbule, the company’s CEO. “And these are conservative estimates”.
Of this volume, it would seem that only about 30% goes to truly Nigerian indigenous companies, Fagbule indicates.
“Let me just clarify one thing,” he tells the Africa Oil+Gas Report, “a SAIPEM, a Daewoo and others will still tell you that they are fully Nigerian companies. But for the “truly” Nigerian companies, I think what they are getting out of that is less than 30% of the whole volume. The biggest indigenous company that is doing fabrication work for the International Oil Companies (IOCs) in Nigeria that I could say right now is Aveon Offshore.”
SellyFak plans to own at least 20% of the market share in the near term. “The company is about twenty years old and over the years, we have been fortunate to do most of the work that we do in the area of corrosion control. We have a base in Port Harcourt that can take care of fabrication works and I would say 80% of the jobs that we do is in corrosion control while 20% is in fabrication but we are trying to balance that that mix for the areas we have capability for. I don’t know how it happens because we have competence for both corrosion control and fabrication but we found We are very active for about six months in a year because coating is done during the dry season. For the other six months, during the raining season, we are not that active but we still need to keep the company running year in year out.”