Nigerian indigenous firm Kaztec Engineering Ltd. confirmed that the construction of a new fabrication yard at Snake Island Integrated Free Zone in Lagos is on schedule and the facility is set to begin operation in the coming month. The Snake Island fabrication yard is the centrepiece of Kaztec's bold vision to develop a regional center of excellence providing engineering design, procurement, fabrication, installation, and project delivery of oil and gas facilities.
Kaztec is building the facility in partnership with Addax Petroleum. The total cost of the project is estimated at $350 million. Future plans call for development of a pipe coating and pipe rolling mill to open in 2014 and a dry dock and logistics base projected to be operational in 2015. Overall investment for the entire three-phase development is anticipated to total more than $1 billion.
When operational, Kaztec's Snake Island fabrication yard will fabricate topside modules, jackets, and other equipment used by international oil firms.
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