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Nestoil, ExxonMobil Sign Pact On Tank FarmBy Adeola Yusuf, Reporter, LagosNigeria's indigenous Engineering Construction and Procurement Company (EPC), Nestoil Group has signed a multi-billion naira deal with Exxon Mobil to revamp ExxonMobil tank farm. Executive Director Operations, Nestoil Group, K.C Akuma, stated that the multi-billion naira contract will give his company the opportunity of demonstrating its capability in crude storage tank fabrication and revamp, an area exclusively dominated by foreign companies in the past. Akuma, in a press statement stated that Nestoil, with the signing of the agreement was expected to revamp Mobil Crude Storage, Condensate Storage and Settlement tanks for ExxonMobil production in the Niger Delta region. "The agreement is coming on the heels of the recent commissioning of Nestoil ultramodern EPC facility and the unveiling of its newly acquired dredger, MV. ENESTO 1 by the Vice President, Dr. Jonathan Goodluck. The company has recently won several contracts with other oil majors," the statement read. Akuma also confirmed that work was expected to commence shortly, and that the company was going to mobilise its recently commissioned EPC facility into action to ensure a smooth contract execution. Although Akuma did not state the actual value of the contract, he confirmed that it ran into billions of naira. Nestoil, according to him, was incorporated in 1991 as a new age Local Content Initiative in the Oil and Gas-rich Niger Delta region of Nigeria. "It is part of an indigenous conglomerate actively engaged in diverse sectors of the Nigerian economy. The company is an established provider of premium Engineering, Procurement and Construction (EPC) services to the oil, gas and manufacturing industries, with its activities backed up technically by some of the best known engineering companies overseas."
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