Kachikwu tasks SAIPEM on investment in exploration, production


The Minister of State for Petroleum, Dr. Ibe Kachikwu, at the 50th anniversary celebration of SAIPEM in Lagos, tasked the company on actively investing in the exploration and production of crude oil, by tapping into opportunities available in the sector, THISDAY reports.

Kachikwu lamented that there is a huge challenge for the economy where much concentration is given to production of crude oil without considering the reserves. Continuing, the minister advised SAIPEM to move away from contracting to exploration and production, while commending them for their training policies which he said are robust.

In his remarks, the Managing Director SAIPEM Contracting Nigeria Limited, Guido D’ Aldisio, expressed delight over the successes that the company has recorded in the past 50 years, stating that the company has been a strong part of the oil and gas business in the country.

He added that the company has been involved in onshore and offshore drilling, offshore and onshore construction work, deep water and shallow water projects, building of power plants, building of refineries, and major offshore projects in the past 50 years.