Nestoil Deploys Pathfinder 500 Rig on OML 42, Boosts Crude Oil Output

Nestoil Group has made significant strides in its effort to boost crude oil output by deploying one of its rigs, Pathfinder 500, on Oil Mining Lease (OML) 42. The rig completed workover operations on two producing wells without any Health, Safety and Environment (HSE) incidents.

The company invested approximately $28 million to acquire the Pathfinder 500 and Scorpio 300 rigs, which are expected to support the redevelopment of OML 42 and unlock further in-field drilling opportunities. Chairman Dr. Ernest Azudialu Obiejesi described the milestone as a defining moment for the Group and Nigeria's indigenous drilling capacity.

Nestoil Group aims to increase oil production in the Niger Delta, aligning with the Nigerian government's goal of increasing production. The successful deployment of the Pathfinder 500 rig marks a significant proof point for Nestoil Group's long-term strategy of building indigenous drilling capacity.