Gbenga Onadeko is the Senior Vice President, Africa, for Welltec. In this interview, he speaks on how technology can drive down Nigeria’s cost of oil production from $20 to $6 per barrel and the challenges oil service companies face in Nigeria. Could you tell us about Welltec? Welltec has been in Nigeria for about 10 years. We started off with Exxon Mobil and have expanded to all the other companies. Right now we work for most of the international oil companies and for a couple of the marginal oil fields companies. We have helped a couple of them, including the Nigeria Petroleum Development Company (NPDC), to get back production from wells that had been closed over a long time at relatively cost effective rates. How difficult was it for service companies in Nigeria during the price collapse of oil? It was difficult for the industry as a whole; especially […]