Watersmith Petroman Oil is primarily a marginal oilfield operator in Nigeria, producing, at peak, 7,000Barrels of Oil Per Day in the Ibigwe field.
The company’s aspirations for scale led it to acquire 8% in NDWestern in 2012, at a time the latter was purchasing the 45% of the Oil Mining Lease (OML) 34 that Shell, TOTAL and ENI were selling
11 years since the company started production in Ibigwe, and seven years since investment in NDWestern, Abdulrazaq Isa, its Executive Chairman says “the next wave of thinking in our company is that can we provide an industrial infrastructure where we then begin to provide other services to other people?”
He says that oil producing companies in Nigeria should use the oilfield infrastructure to deepen the value of oil extraction to the Nigerian economy. “We can acquire a significant amount of land within our area, we are building a refinery, we are providing electricity for ourselves, we are providing water for ourselves, we are providing security for ourselves so why can’t we scale that up and do that with other people?