Another Nigerian company eyes Ghana’s oil sector

A Nigerian company, is looking at possibilities for investment in Ghana’s nascent oil and gas industry.

The managing director of National Engineering and Technical Company (NETCO), Kenneth Ejuoneata who revealed his company’s interest in Ghana was in Accra recently to explore opportunities in the country’s oil and gas sector, the BusinessDay has reported.

Mr. Ejuoneata told the publication that NETCO has trained many engineers who are working for both local and international companies in Nigeria and abroad.

The company which is currently into design intends to go into procurement which involves going into vessels, buying of pipes, compressors and so on.

Ejuoneata said because there are few companies who are into fabrication in Nigeria, his company is entering that area.

“After buying those materials, you have to do constructions as if you are building a house. That means you have to buy the material. This is what is applicable in the petroleum industry, but there are some companies that go the whole hog, from engineering design, procurement and to construction. We are going into procurement and construction, though not in a big way. We want to start with small jobs, small engineering jobs. As we gain experience, we go into bigger ones like Hi-tech,” he was quoted as saying.

He told the publication that his company is in talks with Ghanaian officials so initiate projects that would avoid the mistakes that were committed in Nigeria when the country first found oil.

He urged Ghanaians to do all the basic engineering works for the oil sector locally, arguing that that aspect should not be left to international companies.

Since Ghana found oil, some Nigerian companies have expressed interest in doing business in the sector. Indeed, the development of Ghana’s natural gas project worth $1 billion has been awarded to a Nigeria company, Oando.

By Emmanuel K. Dogbevi