Kaztec Engineering Ltd. Projects 25,000 New Jobs From Snake Island Fabrication Yard by End of 2016

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LAGOS, Nigeria, Oct. 10, 2013 (GLOBE NEWSWIRE) -- 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, today announced that its new fabrication yard at Snake Island Integrated Free Zone in Lagos will create thousands of jobs and have a significant economic impact. The company estimates that more than 5,000 direct workforce jobs will be created by the end of 2016, with an additional 20,000 indirect workforce jobs anticipated.

The Snake Island fabrication yard, which is being built in partnership with Addax Petroleum Limited, is expected to begin operation in the coming month. It is the centerpiece of Kaztec's three-phase multi-year plan that also calls for building a pipe coating and pipe rolling mill to open next year and a dry dock and logistics base to be operational in 2015. Once completed, Kaztec's Snake Island Development will improve Nigeria's position as a provider of engineering design, procurement, fabrication, installation and project delivery of oil and gas facilities, which will accelerate delivery of offshore platforms and substantially reduce costs in deepwater developments.

"A development of this magnitude requires considerable training in the skills that will be required, and we are working closely with the Skill Acquisition Centers of Lagos State, Bayelsa State and Anambra State to ensure trainees are qualified and certified to international oil and gas standards," said Sir Emeka Offor, executive chairman of Kaztec Engineering Ltd. "We take our training responsibility seriously because a highly skilled workforce is essential for satisfying all the project delivery needs of oil and gas companies doing business in Nigeria and throughout the Gulf of Guinea and West Africa."

Kaztec anticipates jobs for welders, fitters, riggers, scaffolders, painters, safety personnel, non-destructive testing (NDT), divers, electrical and instrumentation technicians, crane operators and heavy equipment maintenance, among others. The company anticipates collaborating with the National Energy Skills Center of Trinidad & Tobago to provide further training.

When operational, Kaztec's Snake Island fabrication yard will fabricate Offshore Platforms, Large Offshore Modules, FPSO Refurbishment & New Build, jackets and other equipment used by international oil companies. Other facilities at the Snake Island will include Pipe Mill, Pipe Coating, Dry & Floating Dock, Logistics & Supply Base and Oil & Gas Training Centers.

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.

CONTACT: Alex Aghomi Communications Officer Chrome Group +234 709 812 4159 alex.aghomi@thechromegroup.net

Source:The Chrome Group