Russia has said it was open to working with Mozambique to reduce, by half, the cost of petroleum products in the country’s filling stations.
Alexander Surikov. Russian Ambassador to Mozambique, said his country would “allow Mozambique to start importing fuel directly from Russia, avoiding intermediaries, potentially reducing by at least half the costs of acquiring the products”.
Russia is wooing friends all over the world as the European Union imposes sanctions on it in the wake of its invasion of Ukraine, which has pushed up crude oil prices and exacerbated global supply change challenges. Africa has become a key site in the contest of will between Russia and the west.
″Russia is open to working with Mozambique in this regard”, Surikov declared at a consultation meeting with the Confederation of Economic Associations of Mozambique (CTA), “We are open to projects in the fuel sector and in others of mutual interest.” he said.
Mozambique has had to deal with skyrocketing prices of petroleum products. The Mozambican Energy Regulatory Authority (Arene) announced the third fuel price rise in 2022 on July 1.
The sharpest rise was for LPG cooking gas for which a kilo of gas leaped by 19.28% from 85.53 meticais to 102.02 meticais; the price of a litre of diesel rose by 11.4% from 78.97 to 87.97 meticais. For gasoline the increase was 4.4%, from 83.3 to 86.97 meticais a litre. This is the first time that diesel has become more expensive than petrol at Mozambican filling stations.
The price of a litre of kerosene rose from 71.48 to 75.58 meticais, which is an increase of 5.74%.
Genser Energy has achieved financial close for an eight (8)-year $425Million funding package to in part, finance the following:
a 100 kilometre natural gas pipeline to Ghana’s second largest city, Kumasi
a 200Million standard cubic feet per day (200MMscf/d) gas conditioning plant at Prestea, Ghana
and a Natural Gas Liquid (‘NGL’) storage terminal at Takoradi Port as a major step in Genser’s
The funds, which comprise of a syndicated senior loan facility of $325Million and a $100Million mezzanine loan facility, will also be used to refinance existing debt.
Concurrent with the fundraising, Genser signed an offtake agreement with Trafigura for 100% of NGLs, primarily propane, butane and ethane, as well as Liquified Natural Gas (‘LNG’) to be produced from the gas conditioning plant in Prestea. In addition, Trafigura participated in Genser’s mezzanine loan facility and provided additional funding to build increased storage capacity at the proposed Takoradi NGL Terminal.
“The construction of the natural gas pipeline to Kumasi and the gas processing plant in Prestea will have significant economic and environmental benefits not only for Genser but also for Ghana and the West African sub-region”, Genser explains. “The availability of cheaper and readily accessible piped natural gas in Kumasi and the central belt of Ghana via the new pipeline will encourage industries to switch from imported trucked diesel and heavy fuel oil (HFO) to indigenous natural gas as a low-carbon intensive fuel. The pipeline will also support relocation of power plants from coastal regions to reduce line losses and improve efficiency on the national grid. Moreover, the gas conditioning plant will produce cleaner fuels and establish Ghana as a significant producer and exporter of Natural Gas Liquids (NGLs)”.
The senior loan facility was financed by a consortium of regional & commercial international banks, development financial institutions, and funds comprised of Standard Bank of South Africa, Absa Bank, Société Générale, Mauritius Commercial Bank, Ninety One, Barak Fund SPC Limited and the Development Bank of Southern Africa. The mezzanine loan facility is provided by Trafigura, Barak Fund SPC Limited and the US Based Fund, Trilinc Global Sustainable Income Fund Master Ltd.
The transaction will support Genser’s diversification from power to the gas midstream sector and mark a significant milestone in its decarbonization strategy to achieve net zero carbon by 2035 whilst contributing significantly to Ghana’s national climate change targets on emission reduction.
Genser Energy was advised in this transaction by Northcott Capital Limited as financial advisers and Clifford Chance LLP as legal advisers. The Senior Lenders were advised by Trinity International LLP (Legal), Advisian – Worley Group (Technical) and Indecs Consulting Limited (Insurance). Hogan Lovells acted as Legal counsel to the mezzanine Lenders.
Genser’s new lenders include Société Générale, Mauritius Commercial Bank and Ninety One, as well as Trafigura as an investor and strategic partner. Among the company’s old and existing lenders are Standard Bank of South Africa, Absa Bank, Barak Fund SPC Limited and the Development Bank of Southern Africa..
The New Gas Consortium in Angola has reached Final Investment Decision for the Quiluma and Maboqueiro gas project, the first non-associated gas project in the country.
The project includes two offshore wellhead platforms, an onshore gas processing plant and a connection to Angola LNG plant for the marketing of condensates and gas via LNG cargoes. Project execution activities will start in 2022 with a first gas planned in 2026 and an expected production of 330Million standard cubic feet of gas per day (330MMscf/d) at plateau
The New Gas Consortium (NGC) includes ENI, Chevron, Sonangol P&P (the state hydrocarbon company), bp and TOTALEnergies, together with Angola’s National Agency for Oil, Gas and Biofuels ANPG (the regulator and concessionaire)
“The sanctioning of the Q&M Project is an important milestone towards unlocking new undeveloped sources of energy, sustaining a reliable supply of gas to the Angola LNG plant”, the partners say in a statement.
The New Gas Consortium partnership encompasses ENIi (25.6%, operator), Chevron (31%), Sonangol P&P (19.8%), bp (11.8%) and TOTALEnergies (11.8%).
Angola had struggled with a clear framework for gas development, for most of its hydrocarbon exploitation history. It wasn’t until the last five years, that the country developed principles to ensure private sector take in natural gas development.
“The establishment of a legal and fiscal regime applicable to the upstream activities and sale of natural gas in Angola was a key enabler for the project”, the NGC partners explain.
The NGC, through the is project, has a relationship with the Angola LNG (ALNG) group stakeholders. Like the NGC, Chevron again holds the highest stake in ALNG, with 36.4%, Sonangol (22.8%), bp (13.6%) and TOTALEnergies (13.6%) and ENI (13.6%), The plant is located in Soyo, Province of Zaire and has a treatment capacity of approximately 353Billion cubic feet a year of feed gas and a liquefaction capacity of 5.2Million metric tonnes a year of LNG.
A new discovery offshore Cote d’Ivoire has sharply increased ENI’s oil and gas volumes in place to 2.5Billion Barrels of oil and 3.3Trillion cubic feet (TCF) of associated gas, the company has reported.
Baleine East 1X well, the second find on the Baleine structure, “confirmed the presence of a continuous oil column of about 48metres in reservoir rocks with good properties”, the Italian explorer says in a release. “From the vertical borehole a horizontal drain of 850 metres in length was subsequently drilled into the reservoir to perform a production test that confirmed a potential of potential of at least 12,000barrels of oil per day (12,000BOPD )and 14Million standard cubic feet per day (12 MMscf/d) of associated gas of production”.
The Baleine-1, located in block CI-101 in Côte d’Ivoire, was announced a discovery in September 2021. ENI took an early decision to develop the field and deliver first oil by 2023. Baleine East 1X is located in a water depth of about 1,150 metres, and five kilometres km east of the Baleine 1X, in an adjacent block CI-802. The result has simply extended the Baleine field eastwards.
ENI operates the two blocks with 90% operatorship. The state hydrocarbon company Petroci is a 10% partner. ENI holds interests in five other blocks in the country’s deepwater, including CI-205, CI-501, CI-504, CI-401 and CI-801, all with the same partner Petroci Holding.
ENI says that its ongoing Baleine Field drilling campaign will continue with the spud of “a third well which will ensure, together with the other two already drilled, the accelerated start-up of production, confirming first oil in the first half of 2023”.
Baleine East 1X well was drilled with the Saipem 12000 drillship. The well reached its final depth of 3,165 metres measured depth.
The speedboat sped through the broad crumpled surface of water, making ripples of foamy liquids as we raced past civilisation. We were leaving the hive of activity at the Escravos jetty, a busy “river car park” filled with large and small boats anchored on concrete pavements, situated a short distance away from the oil terminal and tank farm owned by Chevron, an oil producing company.
A bank of clouds was building on the horizon. The water body seemed to be filled to the brim. Time and again I had the distinct feeling that our boat was floating involuntarily, jerking forward and backward; we were traversing a mountainous body of fluid, dancing on it, bumping into invisible potholes as we hurried along.
Our destination was GBOKODA, another riverine settlement off the main course of the Benin River, the main water way running the length of Delta State.
Fate was playing some prank. The first and last time I ever made a long journey on water, I was going from IGBOKODA, a riverine enclave in Ondo State, to AIYETORO.
My mission was to report on the crumbling of that miniature socialist community on the shores of the Atlantic. That was in the Easter of 1985.
I was a full-time journalist then, working for the Guardian of Lagos.
The present journey took place in the Easter of 1990, five years later. I had made the transition into full time petroleum geoscientist, working for Chevron Nigeria.
This trip was an experience broadening trip, my superiors called it, to understand how field geophysicists gathered the seismic data that I and other ‘interpreters’ used in the office to generate reservoir maps.
An inner voice told me that for me, Igbokoda, had a relationship deeper than similarity of names, to Gbokoda, an Itsekiri Village where I was heading exactly five years later. Both settlements thrive on sea food, their people’s lives are anchored on the tide and waves. Each of them speaks a rhythmic dialect that is a branch off the mainstream Yoruba language.
My mind moved away from sociology to the scenery. I took in the hedgerows of green trees that defined the width of the waterway. They were far apart on both sides of the corridor and seemed to converge in the far distance, where they attempted to meet the sky. We passed a wooden jetty, populated by a gathering of villagers.
A distinguished village chief, attired in formal traditional wear, waved to us as if our boat was his private property. I waved back in jest. At another gangplank up river, one young woman dipped a basket-like net into the water, hoping to catch a stray fish. She failed, and waved to us when she noticed that I was intensely staring at her.
Time and again, the boat driver would reduce the speed for an upcoming canoe, whose driver would have to roll quickly in order that his vehicle was not capsized by the massive ripples churned up by the engine. But then the desperation on the face of the canoe driver depended on the condition of his canoe. Some of the canoe drivers we passed by were calm, seeming to have more fun running their canoe out of danger than we had manipulating our speed boat for the entire stretch of the journey. “Well maintained” canoes did not have to worry much about up-coming speed boats”, our speed boat driver told me, especially in the open river. These people are masters of water. They know the route better.”
Presently, the front rows of trees gave way to a cluster of raffia huts. In front of one, a group of five boys tackled themselves in a game of football, kicking up more sand and marsh than they succeed in kicking the round leather object.
In every Village along our route, inhabitants surveyed our boats with some interest as if it reminded them of one belonging to a distant cousin. They broke into smiles and greeted us. In one village, one naked girl standing with her mother looked so enthusiastic; she waved the cup with which she was bathing at us.
Soon we branched off the main “highway” into a darker cavernous route where the trees seemed to close in on us. The water was calmer, greener, and in places, very muddy. The roots of the trees were almost as dark as soot. Most of the trees, even though they formed broad canopies, stood like gangling footballers frozen at some stage of motion.
Two tall trees standing like pillars, faced us at a fixed spot. They looked like some transfixed characters out of D.O Fagunwa’s A Forest of Thousand Demons.
The boatman deftly manoeuvred our vehicle in these narrow creeks, steering it out of harm’s way, just when I was afraid we were going to bump into some tangled undergrowth in the mangrove. Each time he did so, we entered a curved exit out of the narrow creek, and entered another narrow creek.
Nature was at peace here. There were no birds chirping close by. No sound of crickets. But I saw a villager in the shade of trees sleeping off in his canoe and an old woman busy fixing her fishing net.
People’s homes emerged out of stilts. Sights of family cooking in the canoe were common.
We emerged from the serene setting of the narrow rivulet and hit the broad open river again. The sun glared harshly, but the breeze tempered the heat.
Suddenly an outcrop emerged from of the river, stretching out for a few hundred meters. It merged into mud at a junction where the main water way meets with another branching creek leading away into a location of an oil rig belonging to Shell Petroleum Development Company of Nigeria. But we did not stop. Instead, we continued along the broadway.
Down the ‘road’, some beautiful hedgerows of trees gave way to some rig location. Now I notice; each time we spot a rig location along the route, I noticed that huge masses of once verdant wood had been hacked down on the marsh. It is the environmental price we pay in exchange for oil money.
From the broadway, we veered off into another corridor, this one much wider than the narrow routes we had traversed along the journey. The water surface was almost as crumpled as in the open river. We passed by some wooden poles, on which were affixed some electric devices.
A school wheezed past. A row of house boats. Then, a community bigger than we had come across since the journey began 90 minutes earlier. Welcome to
Culled from Chevron News, published in 1990
TOYIN AKINOSHO wrote about one of his field trips on the job as a geologist in Chevron Nigeria’s exploration department.
French major TOTALEnergies has announced the final investment decision for Begonia, the first development on block 17/06, located 150 kilometres off the Angolan coast, in agreement with concession holder Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG) and its partners on Block 17/06.
The Begonia development consists of five wells tied back to the Pazflor FPSO (floating production, storage and offloading unit), already in operation on Block 17. After commissioning, expected in late 2024, it will add 30,000 barrels a day to the FPSO’s production.
After CLOV Phase 3, another satellite project that produces 30,000 barrels a day and was launched on Block 17 in June 2022, Begonia is the second TOTALEnergies-operated project in Angola to use a standardized subsea production system, saving up to 20% on costs and shortening lead times for equipment delivery.
The project represents an investment of $850Million and 1.3Million man-hours of work, 70% of which will be carried out in Angola, the company says in a release.
The Egyptian Nuclear and Radiological Regulatory Authority (ENRRA) has issued a permit for the construction of the country’s first nuclear power plant.
This permit, along with excavation works at site, is a prerequisite for the start of the main stage of construction of the El-Dabaa NPP Unit 1, to be built in the city of El Dabaa on the coast of the Mediterranean Sea, 300 km North-West of Cairo.
Rosatom, the Russian State Nuclear Energy Corporation, says it will “build a reliable state-of-the-art NPP with reactors based on the Russian VVER-1200 (pressurized water reactor) design of the innovative Generation III+, which meets the world’s highest safety standards, and is successfully operated in Russia”.
ENRRA says that the El-Dabaa NPP “will be the first nuclear power plant of this generation on the African continent”.
It will not be the first nuclear power plant on the continent, though. That credit goes to to the Koeberg Nuclear reactor, one of two nucear power plants in South Africa, with combined generation capacity of 1,800MW.
ENRRA says the NPP will consist of four power units, 1,200 MW each. Rosatom says that “four power units with reactors of this generation are operated in Russia: Novovoronezh and Leningrad NPP sites have two reactors each. Outside Russia, one power unit of Belarus NPP with VVER-1200 reactor was connected to the grid in November 2020”.
The NPP is being constructed in accordance with the package of contracts which entered into force on December 11, 2017. In accordance with the contractual obligations, the Russian party will not only construct the power plant but will also supply nuclear fuel for the whole life cycle of the NPP and will provide assistance to the Egyptian partners in training of the personnel and support of operation and service during the first 10 years of its operation. Under a separate agreement, the Russian party will build a special storage and will supply containers for storing spent nuclear fuel.
Warren Buffet, America’s most foremost and savvy investor, is a major Chevron investor. Berkshire Hathaway, his investment vehicle, owns 8.16% of Chevron, representing $23Billion. His foremost ability is owning stocks that have regular and high dividend returns. The Chevron dividend has for the last 35 years increased incrementally every year. No wonder that Buffet has become the symbol of blue chip stocks.
Is this about to change? Could Chevron give Buffet a black eye? This deserves a short explanation. Buffet has in the past been candid about how his early investments turned out to be duds. Berkshire Hathaway, as Buffet recalls, was originally highly involved in New England’s fading textile industry. Lessons learned from the textile industry have been a strong influence on Buffet’s investment strategy. Could Chevron go the way of the New England textile factories?
Two key factors play a role: Chevron’s lack of diversity of supply and logistically bringing Tengiz oil to the market place.
The Present Situation
Mike Wirth, Chevron’s Chairman and CEO recently revealed that two-thirds of Chevron’s total production of 3Million barrels of oil will, in 2025, come from just two projects: Tengiz in Kazakhstan and the Permian Basin in the United States will each yield 1Million barrels of oil equivalent per day. Not exactly diversity of supply.
The company’s market cap is now $284Billion. Chevron’s positive image is largely because of its dividend track record: the company has increased dividend payouts for 35 consecutive years.
Chevron management, nonetheless, has suffered important setbacks at the company’s Annual General Meetings in both in 2021 and 2022. Over the objections of management, 61% of shareholders voted in 2021 for a proposal to encourage the US company to reduce its emissions. At the 2022 annual shareholders meeting 39% of shareholders voted for a resolution asking the company to provide quantitative information how a net zero by 2050 will affect key components of Chevron’s financial position, including potential impairments, remaining asset lives and asset retirement obligations.
In 2021, Chevron established a New Energies division devoted to lower-carbon technologies, pledging to spend $10Billion through 2028—about $2Billion per year, or 12.5-14% of Chevron’s projected capital budget. The company’s new energy division is focusing on the following areas:
• Renewable natural gas products;
• Renewable fuel products;
• Hydrogen production;
• Carbon capture and storage.
Will Chevron shareholders see Chevron’s new energy division as a new direction or mere symbolism? Certainly, Europe’s supermajors-BP, Shell, and TOTALEnergies-who have a dash of renewables, have seen their share prices remain stagnant. Is the alternative simply to follow the hydrocarbon route?
The company has indicated that over the next 3 years it will spend some $10.5-$12.5Billion yearly in the USA, mostly in the Permian Basin and Gulf of Mexico. This means that at least 75% of Chevron’s total capital budget over that period is pledged for the U.S. market.
Outside the USA, Chevron will spend $3.5Billion, or 70% of its international budget, to develop its Tengiz asset in Kazakhstan, with the remaining $1.5Billion spent elsewhere. This is not promising for Africa, where Chevron has major operations stretched across the continent, including major projects in Nigeria, Angola, Equatorial Guinea, and Egypt that have received limited funding in order to bankroll Tengiz. Putting so many of its eggs in the Tengiz basket could be a strategic vulnerability: if Tengiz output falls short, Chevron’s market performance will suffer, potentially dramatically.
The Caspian Region, particularly Kazakhstan, has been a key frontier for Chevron since the break-up of the Soviet Union. Tengiz, Kashagan and Karachaganak were all major projects taken on at great risk, but they garnished great financial wealth which in turn generated cashflow for the majors to develop projects around the globe, including Africa.
This is about to change. WoodMackenzie is predicting that, by 2030, annual capital spending on upstream oil and gas projects in the Caspian Region will drop 50% from it’s 2018 peak of $20Billion.
According to WoodMac most of the largest pre-FID (Final Investment Decisions), both brownfield and greenfield, do not generate an IRR(Internal Rate of Return) above 20%. Tax issues, cost overruns and project delays are key constraints. Add carbon neutrality to the mix and you have the ingredients for a perfect storm.
When the Soviet Union broke up in the early 90s and Kazakhstan emerged as a new oil province, Chevron was seen as an ambassador of US goodwill. Chevron’s prize was operatorship of Tengiz (50%) and ExxonMobil gained a 25% share. Chevron also has an 18% share in the large Karachaganak Gas Field.
What once was a sign of great wealth—Kazakhstan’s oil riches—could turn sour very quickly. Both Chevron and ExxonMobil, key developers of Kazakhstan’s prosperity, are also the two key oil majors lacking any serious decarbonization and energy transition plans. While this is most relevant for the Caspian, it is also a warning for Africa where both companies have major projects.
Expiry date for the Tengiz concession is 2033. What will happen then? Given the huge costs, highly sulfur-based oil and low chance of carbon neutrality, Tengiz could become a vast stranded asset. To date Shell has abandoned two Kashagan projects in Kazakhstan because of high costs. Tengiz was for most of its duration Chevron’s crown jewel, providing cash to developing assets elsewhere including Africa. Given Chevron’s current strategy it can only hope that Tengiz can continue to squeeze out more oil.
Caspian Pipeline Consortium (CPC)
An equally troubling problem is the Caspian Pipeline Consortium (CPC) which transports Caspian oil from Tengiz field to Novorossiysk-2 Marine Terminal, an export terminal at the Russian Black Sea port of Novorossiysk. The CPC pipeline handles almost all of Kazakhstan’s oil exports. In 2021 the pipeline exported up to 1.3Million barrels per day(BPD). On July 6, 2022 a Russian court ordered a 30-day suspension of the pipeline because of an oil spill. The CPC appealed the ruling and the suspension was lifted on 11 July of the following week, and the CPC was instead fined 200,000 rubles ($3,300). Also there have been unconfirmed reports that western service companies are refusing to provide repairs and spare parts, which could be seen violating sanctions against Russia.
The incident demonstrates the vulnerability of Tengiz and future production. No doubt this is not the last such incident which involves Russian and Kazakhstan goodwill to ensure that Chevron’s Tengiz Project does not falter. Having to depend on Russian-Kazakhstan goodwill to guarantee Tengiz production has put Chevron’s lack of diversity of oil supply in a very bad light.
A final sour note for Buffet could be Chevron’s Permian Basin assets. What assurances do we have that Chevron’s Permian Basin adventure will fare better than that of past shale operators?
In a 2021 March report IEEFA (Institute for Energy Economics and Financial Analysis) found the 30 producers generated $1.8Billion in free cash flows in 2020 after slashing capital spending by $20Billion from the previous year.
“Last year’s positive free cash flows were only possible because shale companies cut their capital spending to the lowest level in more than a decade,” said Clark Williams-Derry, IEEFA energy finance analyst and co-author of the report. “Restraining capital spending could help the fracking sector generate cash, but low levels of investment also undermine the industry’s prospects for growth.”
Since 2010, the 30 companies examined by IEEFA had reported negative free cash flows totaling $158Billion.
“The positive free cash flows pale in comparison to the industry’s accumulated debt loads.”
The 30 shale producers owe almost $90Billion in long-term debt, and the reductions in capital expenditures are unlikely to ensure that the industry grows .
If Buffet is seen visiting Tengiz or the Permian Basin. investors should sit up and take notice. It will be, perhaps, an indication that much like the New England textile mills, all is not well in the land of Chevron.
Italian major ENI and Algeria’s state hydrocarbon company SONATRACH say they have tested 1,300Barrels of Oil Per Day(BOPD) bbl/day of oil and about 2Million standard cubic feet of associated gas per day in the Rhourde Oulad Djemaa Ouest-1 (RODW-1) exploration well in the Zemlet el Arbi concession, located in the Berkine North Basin in the Algerian desert.
The hydrocarbons were encountered in the Triassic sandstones of the Tagi reservoir.
RODW-1 is the third well in the exploration drilling campaign, but the second discovery, coming, as it is after what ENI calls “the significant discovery of HDLE-1, announced in March 2022”, and the successful second appraisal well HDLS-1 in the adjacent Sif Fatima II.
“The development of these discoveries will be fast-tracked, thanks to their proximity to existing BRN/ROD facilities”, ENI says in a release.
“The RODW-1 discovery confirms the validity of ENI’s and SONATRACH’s successful near-field and infrastructure-led exploration strategy, that allows a rapid valorisation of the new resources”, the company explains.
The Zemlet el Arbi concession is operated by a joint venture between ENI (49%), and SONATRACH (51%). The discovery is part of the new exploration campaign which will include the drilling of five wells in the Berkine North Basin.
Bell Oil & Gas says it is looking forward to commissioning a multi-million-dollar, integrated facility, located at the Lekki Free Zone in the eastern flank of Lagos, Nigeria.
The facility is on a site with a total size of over 15,000 square metres, according to Kayode Thomas, the company’s CEO.
The first phase of the project “comprises state-of-the-art valve assembly, maintenance, testing, painting and production”, which will deliver “Made in Nigeria valves for the oil and gas industry”, Thomas explains.
The second phase of the facility is for piping, pipe threading, machining and production of pup joints, crossovers and accessories. Thomas says that commissioning is at hand. “The facility will also accommodate our composite pipe fabrication services as well as serve as a storage and logistics base for our entire operation”
Bell Oil & Gas is a Nigerian owned service company which produces, supplies, installs, commissions and maintains a range of composite pipes. It is involved in some of the country’s ongoing large E&P projects including TOTALEnergies’ Ikike oilfield development, Nigeria Liquefied Natural Gas (NLNG)’s Train 7 construction and the ANOH Gas Processing Company’s ANOH midstream gas processing project. It is looking forward to participate in such future projects as the Shell led Bonga Southwest/Aparo, a deepwater oil field project.
MEANWHILE, IN PORT HARCOURT, THE LARGEST CITY IN THE NIGER DELTA BASIN, Tag Energy says it will commence the construction of a 3,000 square feet factory for the design, production, and repair of valves of all types and sizes by the year 2025.
The company ordinarily does flange management services; providing solutions for bolting requirements, including torquing, tensioning, stress analysis, and joint integrity quality assurance and quality control (QA/QC), with services catering to “high-integrity sealing of flange joints at chemical plants, refineries and offshore installations, as well as general industrial sites”.
Tag also supplies, services and repairs valves, mostly in engineering facilities in the oil industry. As the company builds the manufacturing facility, it has taken charge, as part of its CSR, of training young people in the eastern Niger Delta at its new valve service centre in Port Harcourt. Tag will “offer paid internships to qualifying students to produce a steady stream of skilled resources for the industry, further reducing our dependence on foreigners for ongoing maintenance and support activities”, says Yemi Gbadamosi, the company’s Chief Executive