Nestoil Invests $28m in Indigenous Drilling Capacity

Nestoil Group has made a significant investment in indigenous drilling capacity in Nigeria by deploying two drilling rigs, including the Pathfinder 500, to Oil Mining Lease (OML) 42.

The $28 million investment is part of efforts to boost crude oil production and reduce dependence on hired drilling equipment, which has become increasingly difficult and costly to secure in Nigeria's operating environment.

Chairman of Nestoil/Neconde Group, Dr Ernest Azudialu Obiejesi, described the successful mobilisation and deployment of the rig as a major milestone for the Group and Nigeria's indigenous drilling industry.

The Pathfinder 500 was deployed to OML 42 where it completed workover operations on two producing wells without any Health, Safety and Environment (HSE) incidents, contributing to increased oil production from the asset.