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C & I Leasing, OCS Services DMCC in joint venture to operate FPSOs in Nigeria

C&I Leasing Rights Issue extended to January 13, 2020

C& I Leasing Plc has announced a new joint venture partnership with OCS Services DMCC (OCS) India.

The venture, which shall operate under the brand name of OCS Integrated Services Nigeria Limited (OCSISNL), was set up to operate and maintain offshore assets with emphasis on Floating, Production, Storage and Offloading (FPSO) units used by the offshore oil and gas industry for the production and processing of hydrocarbon and storage of oil.

Speaking at the official unveiling of the venture, Andrew Otike-Odibi, managing director of C&I Leasing Plc, said the partnership brought two forces together as C & I Leasing has strength in marine services and managing of marine assets, while OCS is a specialist in managing and operating FPSOs.

“OCS is an affiliate of PW Offshore, one of the topmost FPSOs providers in the world. This brings the expertise of PW Offshore into the country, and C & I Leasing, which provides specialised services to operators in the Nigerian oil and gas industry,” he said.

According to Otike-Odibi, the joint venture was expected to offer excellent, differentiated service to businesses in the sector by leveraging on the decades of experience and expertise from both organisations that have been providing offshore support in Africa and Asia in areas like business process outsourcing, personnel management, offshore vessel operation and maintenance.

He further said that the partnership was committed to impacting the sector by identifying and nurturing talents in the sector and creating prospects for more jobs and skill development opportunities for interested young Nigerians.

“You might not have the total outsourcing of the maintenance, but you can have some of it and that for us creates a room for growth. We believe that once the expertise and the professionalism is seen and with the use of the Nigerian oil and gas advantage, which C & I Leasing has, the JV should be able to gain traction,” he added.

Sangram Dhote, senior vice president, Operation and Maintenance, stated that OCSISNL intends to introduce a growth agenda to the Nigerian offshore business environment. To him, the joint venture has remarkable potential to provide a win-win for all stakeholders.

He added that OCSISNL will provide a perfect mix of technical expertise, operational efficiency, local understanding and quality service delivery.

Dinesh Rehani, director of OCSISNL, stated that OCS has a very strong global brand name and expertise in the field of operation and maintenance of oil production assets.

“We also provide crew for our technical services. We have a corrosion management business and also do steal replacement on offshore running assets due to the backing and equity holding of BW Offshore. We have very strong background in technology,” he said.

He disclosed that the company had been scanning markets like Nigeria and Brazil, which have high potential and are rapidly growing. “Not-easy-place- to-work iswhat we want at this time because we have worked in India and other difficult market in Africa and Middle East.

C&I Leasing Plc serve both indigenous and multinational companies in Nigeria along three business lines: fleet management, business process outsourcing and marine services.

 

Amaka Anagor-Ewuzie