The Venture

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Venture Summary

WeldHouse Limited is proposing to establish a modern fabrication yard in Nigeria to enable Oil companies meet the Nigerian Local Content Law fabrication requirements. The yard will have a long waterfront thereby accommodating offshore facilities such as FPSOs, steel jackets and rigs of any length or size. The industrial area of the yard will be equipped with the machines capable of fabricating all types of oil & gas facilities for installation in any oilfield (offshore, swamp or land), petrochemical plant or refinery. 

The Company

WeldHouse Ltd, a wholly Nigerian owned company, has acquired a 700m x 700m parcel of land (49 Hectares) on the western bank of the Cross River in the south-eastern corner of Nigeria to develop the fabrication yard. 

The Asset

The parcel of land is located 8 nautical miles inland from the Atlantic Ocean with about 10m water depth almost all the way. The Yard will have a waterfront of length 700m. Discussions are currently ongoing with funding partners. 

Target Market

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. The secondary market will be the eastern coast of Africa and other sectors of the economy. 

Nigerian Local Content Law

The recently enacted Nigerian Oil and Gas Industry Content Development Act (NOGICDA) requires that facilities for oil fields be fabricated in Nigeria thereby securing the yard's primary target market.