The venture is to establish a modern fabrication yard at a riverside in Nigeria. The yard is to have the machines with capability to fabricate all types of oil & gas facilities for installation in any oilfield (offshore, swamp or land) and in petrochemical plants and refineries. The yard is also to have a long waterfront so as to accommodate offshore facilities like an FPSO, steel jackets, rigs of any length or size.
WeldHouse Ltd, a wholly Nigerian owned company, has acquired a 700m x 700m parcel of land (49 Hectares) on the western bank of Cross River in the south-eastern corner of Nigeria to develop the fabrication yard.
The parcel of land is located 8 nautical miles inland from Atlantic Ocean with about 10m water depth almost all the way. The Yard will have a waterfront of length 700m. Discussions ongoing with funding partners.
The primary market for the yard will be offshore oilfields in Nigeria and the Gulf of Guinea where the fabricated oilfield production facilities will be installed. Secondary market will be Eastern coast of Africa and other sectors of the economy.
The recently enacted Nigerian Content Law that requires facilities for oil fields to be fabricated in Nigeria has created the market for the yard.