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Nigeria Report

Marcopolis presents Nigeria Report focused on topics such as investments, power and hospitality, featuring interviews with Nigeria's leaders. The sectors under review in this issue are banking, construction, energy, industry, logistics, real estate, tourism and many more. 

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InterviewsJuly 28, 2016

Operational and Maintenance Services for Nigerian Oil and Gas Sector - Triumph

Bolaji Ososami, Managing Director of Triumph
Bolaji Ososami, Managing Director of Triumph
Written by Dominika Bzduchova
Published: July 28, 2016

Interview with Bolaji Ososami, Managing Director of Triumph

Where does Nigeria stand at the moment with regards to the oil and gas sector?

Right now the oil and gas power sectors are going through a very difficult time due to the fall of crude oil prices as well as the vandalising of pipe lines by militants. All of this is affecting the ability to grow the oil and gas sector. However the long term potential is still very good. We are very optimistic that these problems will be resolved. The price of crude oil has started rising again. Projects that have been put on hold are now being resumed. It can only get better from this point onwards.

What’s Triumph’s role in this?

Triumph primarily provides operational and maintenance services for the oil and gas sector. As a matter of fact our business is not severely impacted right now because many of the oil companies during this down turn want to ensure that their production is up. They need companies like us to help them make sure that there are no hitches no downtime in their production assets. That is good for our business.

For this year we primarily want to grow our business and to do that we are setting up a service centre in Port Harcourt together with some of our tanker partners.

So you are in the maintenance.

Yes. We are mainly maintenance, operations and production.

Who are your major clients?

Exxon Mobil, Shell, Total, Chevron and Seplat as well as in the power sector there are companies like Niger Delta Power Holdings, Cyrex Energy and Sahara Energy.

How long have you been in the market?

Our company has been in business since 2010. About six years. However, within our business we have a combined experience of over twenty-five years in the industry.

How do you differentiate yourself from other companies in this specific industry? What are your strong points?

We always try to develop innovative products that deliver cost savings to operations. We develop products that help because they improve the level of efficiency of operations and business and deliver measurable savings. That is our primary focus. That is how we seek to differentiate ourselves.

What is your strategy for the coming year and a half, i.e. by the end of 2017?

For this year we primarily want to grow our business and to do that we are setting up a service centre in Port Harcourt together with some of our tanker partners where we will be able to increase our local content capacity, increase the work we can do in overhauls and maintenance work that can be carried out in Nigeria. That is our strategy for the next two years.

When will that centre be ready?

We are hoping that before the end of this year that the centre will be up and running in Port Harcourt.

Do you have any other projects or initiatives at the moment?

We are primarily focused on delivering the service centre at the moment as well as training our staff to be more competent and more experienced to be able to take on bigger jobs.

Where would you like to see the company be in two years’ time?

We would like to be able to do major overhauls of gas turbines and gas compressors in Nigeria. We would like to see level two overhauls of gas compressors and turbines done in Nigeria. That would be a big achievement for us.

Our model is that we work with international service provider companies like Brush in the power generation sector and MTU in Germany. Quite a few international companies that we represent have brands in Nigeria and we provide after sales services for these brands. That is primarily what we do. We see great potential in the business as we acquire the service centre and greater skills. We believe that the long term prospects for the industry are very good. If you are ready to invest and you have a long term approach to your investment it will be a good industry to be in.

 

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