LAGOS, Nigeria, May 9, 2011/PRNewswire via African Press Organization (APO) / — Nigeria Joint Venture Will Pursue Robust Growth Strategy in Oil & Gas
International energy consultancy Xodus Group today joined forces with Nigerian company Mos Baker to launch a brand new operation in Lagos called XMOS.
XMOS brings integrated field development and front end services to the African oil and gas markets with an initial focus on three divisions, process and facilities, flow assurance and subsea engineering. Ultimately the full suite of Xodus services will be rolled out which will add technical safety, environmental and subsurface capabilities.
The partners are each investing more than $1 million setting up the joint venture which will recruit 20 people in the first year and grow to 100 people within three years. The Nigerian government intends to double national oil production from 1.8 million barrels per day and Xodus believes there are significant opportunites for XMOS and the experience it can bring to the region.
Colin Manson, chief executive of Xodus Group said: “Setting up a joint venture is a first for Xodus Group and we are making the move now because we have tremendous confidence in the size of the market opportunity in Nigeria and in our new partners. Many of the new developments will be in very deep water off the Nigerian continental shelf, where our subsea and technical credentials, integrated field development and front-end experience are ideally suited. This move presents a new chapter in the evolution of Xodus Group.”
Sam Unuigbe, a former director of Stanbic IBTC Bank and owner of Mos Baker will take on the role of chairman and his son Ohioze Unuigbe, a chemical engineer with an MBA from Imperial College London and experience with UK engineering contractors, is Managing Director.
Rod McInnes has been appointed operations director of XMOS. Mr. McInnes has more than 30 years of engineering experience with the last 15 in senior management positions. He has worked in West Africa previously and has extensive international project management experience with operators such as ExxonMobil, Statoil and Texaco and global oil refineries.
Colin Manson will sit on the board from Xodus Group along with Xodus directors Stephen Swindell and Dave Rayburn who will provide specialist support from the Xodus London office.
Sam Unuigbe said: “We believe that by joining our local know-how and business acumen with Xodus Group’s exceptional engineering experience, we will grow to have a significant presence within three years. We will be recruiting from day one and will be on the search for the most talented forward thinking engineers to come on board with this exciting new venture.
We will be investing in training local people and will be looking to attract skilled engineers working overseas interested in returning to Africa.”
Mr. Unuigbe, a qualified chartered accountant is a well respected businessman in Nigeria and until last year spent more than 17 years as a director of Stanbic IBTC Bank, one of the largest banking groups in Africa
He established his own firm of chartered accountants Unuigbe Akintola & Co in the 1970s of which he remains managing partner. He serves on the board of several companies including NENSCO ltd and Philips Project Centre – an affiliate of Philips Electronics NV of the Netherlands. He has invaluable oil and gas experience in Nigeria and as well as Mos Baker he is a shareholder in Delta Afrik and Delta Tek Engineering and previously worked as a manager with Mobil Petroleum Nigeria.
Xodus Group is headquartered in Aberdeen and employs more than 310 people in offices throughout the UK with its London office heading up high profile international contracts in key regions across the globe. The company also recently opened an office in Houston as part of its ambitious international growth strategy.
Xodus launched in 2005 and has grown into a dynamic integrated consultancy with expertise in oil, gas and renewables. With an annual turnover of GBP30 million, Xodus has six divisions comprising: Wells and Subsurface; Subsea; Process and Facilities; Integration Technology; Technical Safety and Risk; Environmental (Xodus Aurora).
Source: Xodus Group