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Saipem at 50: Kachikwu urges Nigeria to look beyond oil

The Minister of State for Pretroleum Resources Emmanuel Ibe Kachikwu

Saipem, the engineering, procurement, project management and construction outfit has promised more contribution to Nigeria’s economic growth, as it marked 50 years anniversary.

At the event graced by many business moguls, including Aliko Dangote, the Minister of State, Petroleum Resources, Ibe Kachikwu, who was one of the speakers, said: “There is a huge challenge for Nigeria and we must learn from the Gulf country, which began nicely with oil and then moved away to begin to carve new world for future generation. But countries like Nigeria, which are still producing every oil they find, without leaving any reserve must take a cue from that.”

He urged Saipem and similar outfits to move away from contracting to exploration and production, and invest more in facilities that are essential to the country’s growth, as well as continue focusing on training people in oil producing communities.

Chief Executive Officer of Saipem, Stefano Cao, who referred to Nigeria as the company’s fundamental base, said his company has consciously executed a number of projects with the deliberate and progressive involvement of Nigerians in all aspect.

On current crisis in oil and gas industry, he said: “We must take advantage of current crisis in the industry, and not let it defeat us. We have to change our mentality and ways of doing things by developing new technologies. We have to make the development of oil and gas resources possible at a much lower cost to the advantage of our client and the oil industry.”

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