Nestoil Deploys Rig for First Operation, Boosts Oil Production in Niger Delta

Nestoil Group has achieved a significant milestone in its efforts to drive oil production in the Niger Delta. The company successfully deployed one of its rigs, the Pathfinder 500, which completed workover operations on two producing wells in Oil Mining Lease (OML) 42.

The Pathfinder 500 rig was acquired by Nestoil Group eight years ago as part of a $28 million investment and had been sitting idle due to skepticism about its deployment. However, the company has successfully mobilized the rig to site, completed workover operations on two wells without any Health, Safety and Environment (HSE) incidents, and safely demobilized it back to base.

The achievement marks a major proof point for Nestoil Group's long-term strategy of building indigenous drilling capacity to support the redevelopment of OML 42 and unlock further in-field drilling opportunities across the field. Speaking on the milestone, Dr. Ernest Azudialu Obiejesi, Chairman of the Nestoil/Neconde Group, described it as a defining moment for the Group and Nigeria's indigenous drilling capacity.