Abdulrazak Isa The Kogi Man Bent On Developing The South East
By Iwedi Ojinmah 1 month ago
Throughout history, the Igbos have been known for their hard work, resilience and ability to develop wherever they settle. Well, it looks like the shoe is on the other foot now because they are about feeling the gratuity of a non-indigene who has come into Igbo land with the very intent of helping to develop it.
Enter one Abdulrazak Isa the Chairman of Walter Smith Petroman Ltd a major player in the Oil and Gas exploration sector as well as Geographical surveying.
Under his leadership, Waltersmith Petroman Oil Limited has successfully grown production from a mere 500 bopd in 2008 to 7,000 bopd in current production.
Born on February 7, 1961, in Lokoja, capital of Kogi State, Nigeria, Mr Abdulrazaq is a graduate of the prestigious Ahmadu Bello University, Zaria (1979 – 1982), where he obtained BSc (Hons) Sociology. In his quest for personal capacity development, he attended several professional programs in banking and oil and gas at Citibank Global Training School, New York, Lee Kuan Yew School of Public Policy in University of Singapore and Cox School of Business, Southern Methodist University, Dallas, Texas.
Mr Abdulrazaq is a member of several professional bodies and associations which includes the Society of Petroleum Engineers (SPE), Energy Institute (EI) and the Institute of Directors (IoD) and the Nigerian American Chamber of Commerce. He is also an active member of the Independent Petroleum Producers Group (IPPG) and the Oil Producers Trade Section (OPTS).
He is also a known humanitarian and philanthropist whom Forbes named among Africa's 40 richest people.
Since setting up shop in the South East his vision has grown into reality much to the joy of its citizens. more is in store both in the field of Power generation and Refinery Production.
Let us look at his accomplishments so far in that region.
The Ibigwe power project is a 300MW combined cycle gas-fired power plant that will be complemented by the construction of a 62km transmission pipeline to Owerri. It is located in the Ohaji/Egbema Council Area of Imo state.
Electricity will subsequently be supplied to TCN through the 330/132/32KV substation located in Owerri. The project, which will be located on a site near Waltersmith’s existing flow station also in Ohaji.
It is designed to sell generated power directly to the Nigerian Bulk Electricity Trader (NBET), and to supply power to local manufacturing and construction industries in the region thereby boosting economic activities. The transmission line and other associated activities of the operations of the power plant have also been planned to eliminate adverse impacts on the environment.
The project will contribute towards bridging the supply gap in the country through the grid and the creation of both direct and indirect jobs, particularly within the host communities. Depending on the performance of the first phase of the power project, Waltersmith plans to expand the capacity of the Power Generating Plant to 1,000MW within 36 months.
Related: Nigeria And Siemens To Sign Deal To End Power Crisis, FGN Wants To Mimic Company's Success In Egypt And Iraq
Waltersmith’s refinery business is divided into 2 phases.
Phase 1 is the delivery of 5,000 BPD Modular capacity refinery that is strategically located near the existing flow station and will process the circa 7,000 bopd currently produced by the upstream business to the readily available market in the south-eastern part of Nigeria.
It is expected to contribute about 271 million litres of refined products including Diesel, Naptha, HFO and Kerosene annually to the domestic market and create both direct and indirect jobs particularly within the host communities. The project is currently under construction and is expected to be commissioned by 2020
Dr Kachikwu, then Minister of State for Petroleum Resources; during the ground-breaking ceremony in 2018 as Isa (extreme right) watches
The phase 2 is the delivery of 25,000 BPD crude and condensate refinery; an upgrade on the 5,000bpd modular refinery. The project is still at an early stage of development but is designed to produce the following products: gasoline, diesel, LPG, kerosene and aviation fuel.
Waltersmith Petroman Oil Limited was incorporated in 1996 as a Joint Venture between Waltersmith & Associates Limited, a Nigerian company and Petroman Oil Limited of Calgary, Canada to operate as a Petroleum Exploration and Production company. In 2001, Waltersmith Petroman Oil Limited became a wholly owned Nigerian company with the divestment of Petroman Oil Limited.
In 2003, the Company participated in the Nigerian Marginal Oil field licensing round for indigenous companies and was awarded the Ibigwe field located in Oil Mining Lease (OML) 16 by the Federal Government of Nigeria. OML 16 was originally operated by the Shell Petroleum Development Company (SPDC) Limited on behalf of the Joint Venture of NNPC/SHELL/ELF/NAOC.
The award was secured on a joint interest basis, with Waltersmith holding 70% and Morris Petroleum Limited, 30%. In 2004, the Company executed a farm-out agreement with Shell Petroleum Development Company and its Joint Venture Partners including the Nigerian National Petroleum Corporation (NNPC) and effectively took over operatorship of the asset. The Company has since pursued a very aggressive growth strategy in line with its long-term goals and objectives.
Recently Waltersmith spread its tentacles to east Africa where it is negotiating for the Shallow and Deep Plays in the Turaco Area of Uganda.
These are indeed exciting times for Africa made even better because they are spurred on by Africans.