Firm eyes acquisition of marginal fields, IOC assets

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’Femi Asu

Baywood Continental Limited, a wholly Nigerian-owned integrated oil and gas technical service company, has expressed the readiness to bid for marginal fields as well as matured oil fields from International Oil Companies.

The President and Chief Executive Officer, Baywood Group, Chris Baywood-Ibe, said the company had made massive investments in all key sectors of its operations in order to sharpen its competitive edge and reinforce its leadership position as a major engineering, procurement and construction company.

“The future for Baywood Continental Ltd is extremely exciting and we are looking to upscale our operations, especially marginal fields, acquisition of matured oil fields from oil majors and explore new frontiers in the energy sector such as cluster power generation using abundant gas for upcoming new cities and towns,” he said at a press briefing in Lagos.

According to him, the BCL is re-branding to achieve a brand equity balance between current and projected profile of the company.

He said, “We have developed the broad and specific elements of the company strategy to actualise this vision. Therefore, the BCL organisational brand is one to watch out for.”

According to him, the BCL is the first to have engineered, designed and constructed the largest onshore gas pipeline in Nigeria for Total Exploration and Production.

He said, “This project being the BCL’s flagship under Oil Mining Lease 58 Upgrade Obite-Ubeta-Rumuji is a 42” X 46km gas pipeline a major artery supplying gas to Alaoji power plant for power generation to the grid as well as gas supply to the NLNG.

“Additionally, the BCL is first to carry out river crossing through horizontal directional drilling of the  largest bore pipe of 1km crossing through Sambrero River.

“It is a record-setting feat in the Nigerian oil industry by an indigenous company. We provide service support for all the major IOCs in Nigeria such as Shell, Total and Chevron, and have won many industry-relevant awards in technology and safety.

He said, to date, the company had achieved over 30 million man-hours with zero fatality while providing cost-effective and fit-for-purpose solutions for projects in challenging onshore and offshore locations.

The Baywood president said the company had been positioned for optimal growth while maintaining profitability with a staff strength of over 1,000, comprising some of the most experienced and competent personnel in the industry.

He said, “We have made significant investments in our human capital and will continuously seek to leverage the skills and competences of the BCL staff in our pursuit of excellence in performance standards.”

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