The Nation Newspaper

Tag: LADOL

  • LADOL votes $350m for Egina FPSO project

    The Lagos Deep Offshore Logistics Base (LADOL) has earmarked $350 million for the execution of its work in the floating production, storage and offloading (FPSO) vessel for oil production from the Total’s operated Egina field.

    LADOL is handling the project in joint venture (JV) partnership with Samsung Heavy Industries (SHI). Coincidentally Samsung was awarded the main contract scope which allows it to perform over 80 percent of the FPSO work scope that cannot be executed in Nigeria in home country Korea, which include the FPSO hull, over 20,000mt of fabrication, procurement and installation of major equipment.

    LADOL was slated to carry out between 1,500mt and 3000mt worth of fabrication job for the FPSO but following the partnership between it and Samsung, which was consummated a few years ago, Samsung proposed to do 10,000mt fabrication job at LADOL Base in Lagos. The proposal attracted some criticisms bordering on capacity and expertise.

    The Managing Director of LADOL, Dr Amy Jadesimi, told The Nation that Samsung is a world class company stressing the painstaking processes and due diligences that were carried out to ensure that the facility meets international standard before the joint was sealed.

    She explained that the criticisms that trailed Samsung’s proposal were not constructive because those criticising the idea are those that don’t want change, those that want status quo to remain because they benefit from it to the detriment of the country and the industry.

    She said LADOL is the only 100 per cent Nigerian logistics base owner in Nigeria and the only one to develop a facility from a zero value Greenfield Nigerian Ports Authority (NPA) site into a $500 million world-class base.

    She also said that contrary to allegations of lack of capacity, expertise and non-approvals by government and regulatory agencies levelled against the company, LADOL has got all the necessary approvals from Nigerian Export and Processing Zones Authority (NEPZA), Nigerian Ports Authority.

    Besides the series of approvals, she said LADOL had to sign nineteen separate agreements with Samsung over the three years with the active involvement of seven separate world-class Nigerian and International lawyers, financial advisors and consultants.

     

     

     

     

  • LADOL to begin FPSO construction, integration in 2015

    LADOL to begin FPSO construction, integration in 2015

    The Lagos Deep Offshore Logistics Base (LADOL) in LADOL Free Zone is poised to begin the construction of its fabrication yard where floating production, storage and offloading (FPSO) vessels will be built and integrated.

    Its Project Manager, Phaethon Payiatis said in Lagos that the construction of the yard would begin next month while the fabrication and integration of FPSOs will start in 2015.

    He said the company has also made plans to dredge the harbour to get the right draft. He said the 14,000 square metre yard would handle 5,000 tonnes of steel and that necessary approvals from the appropriate regulatory agencies.

    LADOL’s Managing Director Dr. Amy Jadesimi said the company was carrying out the project with Samsung Heavy Industries (SHI) of Korea. She explained that contrary to reports, LADOL has done some major jobs for some oil companies , including Chevron’s Agbami FPSO.

    She said as at September, the company had invested $62.6 million in the $500 million facility, adding that, on completion, the project will generate 5,000 jobs inside LADOL and 50,000 jobs outside; it will attract billions of dollars in foreign direct investment (FDI) as well as technology into Nigeria.

    She said: “LADOL is the only 100 per cent Nigerian logistics base owner in Nigeria and the only one to develop a facility from zero value Greenfield Nigerian Ports Authority (NPA) site into $500 million world class base. LADOL is now expanding its facilities and its proven business model of private indigenous Nigerian lead development of facilities into Bayelsa as well as extending its facility in Lagos with a $500 million additional investment.

    “LADOL’s joint venture with Samsung to build Nigeria’s first and Africa’s only FPSO facility will make Nigeria Africa’s maritime, oil and gas hub creating 100,000 jobs. LADOL has been given all required approvals to proceed with construction and based on the approvals the government has given, $62.5 has been invested. This is new private investment in developing infrastructure in Nigeria.”

    She also noted that based on researched facts, the most suitable site for FPSO integration in Nigeria is LADOL and the least suitable site is Nigerdock. The Nigerdock site shouldn’t be considered for integration owing mainly to operational consideration and the unacceptable high risk to the FPSO hull of traversing the narrow path to Nigerdock.

    She said the zone is located on a peninsula five minutes away from personnel and cargo jetties and being immediately next to the entrance to Lagos Harbour, it can easily accommodate the largest vessels and barges and it guarantees the fastest turnaround times.

    Besides, LADOL is registered as an International Ship and Port Security (ISPS) code certified port facility with International Maritime Organisation (IMO) and receives local and international vessels. With 200m quay, 8.5m draft, 25 ton/m2 high load bearing area and additional 30 ton bollards at either end, the quay can accommodate up to six supply vessels and three heavy lift vessels simultaneously. Since products are piped directly through ducts in the quay, vessels’ turnaround time can be less than eight hours. The quay is being extended by additional 1,000m this year, she added.

  • Firm seeks roadmap for local content

    The Managing Director, Lagos Deep Offshore Logistics (LADOL), operators of the Lagos Free Zone behind Tin Can Port, Dr Amy Jadesimi, has challenged the government to chart a definite roadmap for Local Content Law administration in the maritime industry.

    She said this became imperative following the delay in the disbursement of the Cabotage Vessel Finance Fund (CVFF) by the Nigerian Maritime Administration and Safety Agency (NIMASA).

    The LADOL boss, who spoke with The Nation at the Logistics West Africa Conference and exhibition in Lagos, said the call became necessary in view of some challenges faced by local operators.

    She bemoaned the foreign domination of the shipping business in the country and urged the Federal Government to make the fund available to Nigerians.

    The LADOL boss also called on some private sector operators, who still operate as appendages to foreign interests, to have a change of focus. Mrs Jadesimi noted: “We need to see more private sector indigenous operators in the industry being on their own. We need to stop being mere agents. This agency model of classifying ourselves with one or two percentages of large contracts is not sustainable and will not help us.”

    Mrs Jadesimi said with the passage of the local content law, many indigenous operators were coming into the business with a measure of confidence, noting that it is the right way to go.

    She said the impact of free zones to the maritime and oil and gas industry, and how they are facilitating logistical efficiencies, specifically called for a sustained synergy between the Ministry, relevant government agencies and notable private sector operators in taking another look at some of the areas of the law, which constitute significant challenges that still impede the success of the law.

    According to her, one of such areas is the issue of tender process, which, she says, actually works against Nigerian players, in favour of foreign interests.

    “So, they now have to work together with qualified private sector and look at how we can encourage such investors who are seen to be doing something realistic so that they can continue to invest with a measure of confidence,” she added.

    Harping on challenges facing operators in the industry, Jadesimi said from LADOL’s experience, financing was still a huge problem because of bank’s lending rate compared to what obtains elsewhere.

    She, however, berated some of the top players who she accused of festering what ‘zero sum game: I win you lose, and I lose, you lose’ syndrome, which she described as “very damaging and anti-development.”

  • Firm seeks roadmap for local content

    The Managing Director, Lagos Deep Offshore Logistics (LADOL), operators of the Lagos Free Zone behind Tin Can Port, Dr Amy Jadesimi, has challenged the government to chart a definite roadmap for Local Content Law administration in the maritime industry.

    She said this became imperative following the delay in the disbursement of the Cabotage Vessel Finance Fund (CVFF) by the Nigerian Maritime Administration and Safety Agency (NIMASA).

    The LADOL boss, who spoke with The Nation at the Logistics West Africa Conference and exhibition in Lagos, said the call became necessary in view of some challenges faced by local operators.

    She bemoaned the foreign domination of the shipping business in the country and urged the Federal Government to make the fund available to Nigerians.

    The LADOL boss also called on some private sector operators, who still operate as appendages to foreign interests, to have a change of focus. Mrs Jadesimi noted: “We need to see more private sector indigenous operators in the industry being on their own. We need to stop being mere agents. This agency model of classifying ourselves with one or two percentages of large contracts is not sustainable and will not help us.”

    Mrs Jadesimi said with the passage of the local content law, many indigenous operators were coming into the business with a measure of confidence, noting that it is the right way to go.

    She said the impact of free zones to the maritime and oil and gas industry, and how they are facilitating logistical efficiencies, specifically called for a sustained synergy between the Ministry, relevant government agencies and notable private sector operators in taking another look at some of the areas of the law, which constitute significant challenges that still impede the success of the law.

    According to her, one of such areas is the issue of tender process, which, she says, actually works against Nigerian players, in favour of foreign interests.

    “So, they now have to work together with qualified private sector and look at how we can encourage such investors who are seen to be doing something realistic so that they can continue to invest with a measure of confidence,” she added.

    Harping on challenges facing operators in the industry, Jadesimi said from LADOL’s experience, financing was still a huge problem because of bank’s lending rate compared to what obtains elsewhere.

    She, however, berated some of the top players who she accused of festering what ‘zero sum game: I win you lose, and I lose, you lose’ syndrome, which she described as “very damaging and anti-development.”