<p class="wp-block-paragraph">For more
liquidity and sustainability, merger and acquisition has been recommended for drilling
operators in the downstream sector of the oil and gas industry.</p>



<p class="wp-block-paragraph">This advise
was handed down by Rotimi Ashley Dejo at the Nigeria Chapter 2019 HSE Awards
and Technical Session of the International Association Drilling Contractors ,
IADC which held in Lagos.</p>



<p class="wp-block-paragraph">Ashley, a
retired drilling engineer with 21 unbroken years with Chevron, now Chief
Executive Girafit Venture, technically exposed the ills and challenges bedeviling
in the area of personnel training, unfriendly regulation, pollution, well control
and continuous rise in the development and implementation of new cutting edge
technologies</p>



<p class="wp-block-paragraph">“Many
companies have their own internal WC policies and standards, which are often
more stringent than the minimum regulatory stipulation?  ;Some companies only meet the lowest requirement
of the regulators (or their client) and if not adequately audited, will flout
the minimum requirements routinely.  ;How
many companies validate their WC “battle readiness” as a matter of routine? For
example, do you audit your shut-in readiness by conducting pit/trip drills?”He
asked.</p>



<p class="wp-block-paragraph">To address
these challenges in an industry that has over 200 wells within the association
that targets an increased membership to 32 by year end, Ashley advised merger
as an option.</p>



<p class="wp-block-paragraph">For instance,
he explained that at one time, Chevron lost $104 million in drilling without
result and asked “how can a local contractor cope with such expense? Local operators
do not have money like the IOC, therefore coming together with strong financial
muscle for accurate data collection and  ;training
can help to brace up with the hi tech challenges in the industry.” </p>

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