Seadrill and Heirs Holdings Launch New Deep Water Drill for Total
On Friday, Tony O. Elumelu, Chairman of Heirs Holdings, an African investment company, commissioned the sail away of Seadrill Nigeria Limited’s sixth-generation drill ship, the West Jupiter. This initiative is part of the global partnership between Heirs Holdings and Seadrill Nigeria Limited. The West Jupiter is the latest addition to the Total Upstream Nigeria Limited (Total) fleet of ultra-deep water vessels operating in Nigerian waters.
The submersible deep-water drilling rig, built by Samsung Heavy Industries for Seadrill Nigeria, has the capacity to operate in 12,000 feet of water. The $1.1 billion contract to operate the ship for an initial 5-year period, was awarded to Seadrill Nigeria by Total as part of the Egina deep-water project.
Heirs Holdings is a joint venture partner and significant equity investor in Seadrill Nigeria. The commissioning is a milestone in Nigerian business presence in the offshore sector, and aligns with the Nigerian government’s policy of deeper indigenous participation in the oil and gas industry.
During the official sail away ceremony in the Samsung Hotel in Geoje, South Korea, Mr. Elumelu, who is also the Chairman of the Board of Seadrill Nigeria, stated, “The partnership between Heirs Holdings and Seadrill is an important part of our strategy of investing in Africa’s long-term economic development and today, we celebrate an inspiring example of global collaboration.”
“The vessel we are flagging off was built in South Korea by Samsung and will be operated by a Nigerian crew for a French customer, developing one of Nigeria’s oil fields. It represents a genuine commitment to knowledge sharing and indigenous participation in Nigeria’s resource sector and is a milestone that we can all be proud of,” said Tony O. Elumelu, Chairman, Heirs Holdings and Chairman, Seadrill Nigeria.
Also speaking at the event, Seadrill’s Senior Vice President for Middle East and Africa, Eduardo Antonello said, “In Brazil, we have 80 per cent local staff in the field and I would like for us to achieve the same in Angola and in Nigeria. We are heading to sixty percent in Nigeria, but the only way to get that number up to eighty, eighty-five per cent is to train people. We and our partners, Heirs Holdings, are very keen on investing in training local crews; and long term contracts, like Total’s, give us just the opportunity to do that.”
Mr. Ernest Nwapa, CEO of the Nigerian Content Development and Monitoring Board emphasized the Nigerian government’s growing insistence that local-international partnerships become the model for engagement in the Nigerian oil industry.
“The only reason I’m here is because Heirs Holdings is involved — because of the partnership between Heirs Holdings and Seadrill. My organization’s role is to ensure that the government’s aspiration to significantly increase Nigerian participation in the oil industry is fulfilled and I am confident that Mr. Elumelu and his colleagues will do this and I am happy they are leading the way in making it a reality,” said Mr. Ernest Nwapa CEO,
Nigerian Content Development and Monitoring Board.
The vessel was commissioned and is owned by Seadrill, and will be manned and operated by Seadrill crews at Total’s deep-water OML 130, also known as Egina oil field.
Leadership in key projects aimed at developing African expertise and involvement in the industry and with clear implications for national economic development, from employment to ownership of industrial processes, underlines Heirs Holdings’ commitment to Africapitalism – the African private sector’s increasingly dominant role in leading Africa’s economic growth.
Source: Heirs Holdings Limited