Bell Oil boosts operations with $200 million dollars

…moves to acquire a semi-sub rig
Bell Oil and gas has announced that about $10 million dollars has been invested in the company’s operation over the last 3 years, just as it has also concluded plans to invest over 200 million dollars on the acquisition of a semi-submersible rig.

Managing Director, of the company Mr Kayode Thomas, disclosed this during an interactive session with newsmen in Lagos. He noted that the company’s investment on rotating equipment stood over $3 to $4 million dollars.

“ I can say conservatively we have invested tens of millions of dollars over the last three years. I can only be specific on specific facilities.
“We have also reviewed the number of oversea training and certification as we have engaged the services of numerous professionals from within and outside the shores of Nigeria.

Thomas said that in the area of drilling the company has invested $150 to $200million over the next 18months  for the

acquisition of semi-submersible rig.
“That is because at the moment you will not find any indigenous companies that provide semi-submersible rig in the country.

“It is a tall order, a big challenge. We already had agreement with a foreign partner and rig owner,;; Thomas added.
The Bell boss said that the company actually started with three individuals who shared a common vision.
He said that the vision was to create a unique organization that will be a reference point for Nigerian content in the oil industry.

“Over the last ten years that is what we have been doing. The road has been rough. We have  transcended several boundaries.

“ We have set a beginning of a new dawn in the company. We are rebranding and we are celebrating the achievement in the last ten years,;; he said.

“From there onward we moved quickly to identify gaps in the market. We now have nine divisions in the company providing a range of services from fibre gas piping to well testing, rotating equipment, loading systems, low control and host of other services.

“Recently, we went into partnership with two international drilling companies to begin to provide onshore, offshore drilling rig and the thinking behind that is that generally you don’t have many Nigerian companies operating in the offshore drilling,’’ Thomas explained.

The managing director said that the company which started with three members staff strength has now grown to about 130 today.

He said that the company has won a contract in Angola through which it has been continuously increasing capacity and demonstrating its potentials beyond the shores of Nigeria.

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