ABUJA, Nigeria, Feb. 11, 2013 (GLOBE NEWSWIRE) -- Addax Petroleum Development (Nigeria) Limited recently honored Kaztec Engineering Ltd. (www.kaztec-eng.com), a 100 percent indigenous leader in the fabrication of drilling and production platforms and other specialized structures for the oil and gas industry, with the Nigerian Content Development Award 2012 recognition for Outstanding Performance and Delivery. Addax described Kaztec as "a performance focused company with potential for increased quality service delivery."
Kaztec is a subsidiary of the Chrome Group (www.thechromegroup.net), a leading West African oil and gas conglomerate. Addax is a subsidiary of the Sinopec Group, one of the largest oil and gas producers in China, the biggest oil refiner in Asia and the third largest worldwide.
Reacting to the news of the award, the Executive Chairman, Kaztec Engineering Limited, Sir Emeka Offor said that Kaztec has been acquiring key competencies and best-in-class equipment during the past three years in its quest to be the preferred contractor by International Oil Companies (IOCs). He reiterated that Kaztec was the leading indigenous oil and gas company in Nigeria, with a deep understanding of the challenges of the operating environment.
"Kaztec remains the ideal local partner in Nigeria, especially for global oil and gas companies looking towards a strategic partnership with knowledgeable local companies," said Sir Emeka Offor.
Mr. Valentine Agwu, the General Manager, Supply Chain with Addax Petroleum Development (Nigeria) Limited, described Kaztec's overall performance and delivery as 'commendable.' He highlighted Kaztec's work on Contract TB 1921, which was awarded in 2010, for the installation of Subsea Pipelines & Topsides. Kaztec safely completed more than 50 critical project milestones under campaigns 1, 2 and 3. Campaign 4 is ongoing.
Kaztec, which in 2012 was also named, "Best Oil Service Company of the Year," by the National Association of Energy Correspondents (NAEC), benefits from the combined expertise provided by the Addax Contract Alliance policy. This helps to mitigate risks and provide greater certainty on cost delivery of the project by unifying the cost structure.
The Nigerian Content Development Award 2012 was presented at the 1st Addax Executive Development Seminar at Eko Hotels & Suites, Victoria Island, Lagos. Designed to empower business executives who can leverage off the opportunities created by the Nigerian oil and gas industry Content Development Act, the Addax Executive Seminar also aims at increasing awareness and stimulating the Nigerian Content.
The Chrome Group, founded in 1994 by Sir Emeka Offor, is one of Nigeria's leading indigenous multinational businesses with subsidiaries operating in oil and gas exploration and production, oil and gas servicing, engineering, insurance, logistics and power industries.
About Kaztec Engineering Limited
Kaztec Engineering Limited is fast becoming a leader in the fabrication of drilling and production platforms, as well as other specialized structures in the oil and gas industry. The company is equipped to provide turnkey onshore and offshore fabrication and installation services. Its core capabilities include engineering, procurement, construction, installation and commissioning of offshore and onshore oil and gas facilities for the oil and gas industry in West Africa. Kaztec values cultural individuality, a work ethic bound by quality, employee safety, and a strong focus on its clientele. Kaztec's corporate headquarters is in Abuja, Nigeria. The company is a subsidiary of the Chrome Group, one of Nigeria's leading indigenous conglomerates with companies operating in oil and gas exploration and production, oil and gas servicing, engineering, insurance, logistics and power industries.