Chairman’s Annual Message, 2015
It is with deep fulfilment that I affirm Jagal’s success in 2014 and introduce our new logo along with a new brand identity, new positioning and a re-invigorated focus. I highly appreciate the hard work ethic and focus demonstrated by our business unit leaders and their teams. In Jagal, we are proud of having some of the best management and partners in the industries in which we operate. As a conglomerate holding, the diversity of our business sectors demonstrates our confidence in the Nigerian economy and we believe that Jagal plays a significant part in the development of this great Nation’s future.
We achieved some historical milestones in 2014 including the operational start-up of two new investments, one in helicopter aviation under Atlantic Aviation and another in the technology industry with Rack Centre, which is already making headlines across the Region as the first tier III certified data centre in West Africa. Atlantic Aviation is a partnership with CHC Helicopter, a world leader in helicopter aviation services. The Company has already won some high profile contracts.
At Nigerdock, we continue to reinforce our position as Nigerian Content Champions with a series of successful project deliveries including the DSO Meren and Sonam project for Chevron/Hyundai, various portions of the Ofon project for Total amongst other distinguished projects. Nigerdock continues to grow considerably and with the expansion of its facilities, has reorganised its business units into four main areas: Upstream Services, Marine Services, Support Base Services and Training. Our Health and Safety record remains exemplary and our investment in people and equipment remains amongst the highest in the oil & gas services industry.
We continue to work hard with our partner Subsea 7 for the success of our JV, Nigerstar 7. We recently won the award for engineering and fabrication on the Okan project for Chevron. We believe that this partnership will play a significant part in the future of Jagal oil&gas services. 2015 should see the Company win some major new projects.
Our marine services operations in Afrik Delta Marine with our partners SmitLamnalco has been going from strength to strength, with key milestones achieved including contract awards from Chevron and the NPA Towage License for 4 of vessels on NLNG. Our partnership with Yinson, FOPWAL (formerly Fred Olsen) has also received a positive boost with a 4 years extension for the FPSO Knock Adoon. 2014 also saw the formation of a new joint venture with Trans Global Projects, market leaders in specialised oilfield project logistics.
The Jagal and Sinopec relationship continues to develop and we are looking at new prospects and acquisitions in the upstream sector. We will have updates later in the year as opportunities progress.
At JNL, Jagal’s construction division, there have been some key infrastructure projects delivered for Nigerdock. We have also recently been awarded projects from ExxonMobil, Wamco, Nigerian Bottling Company, Chartwell and Atlantic Aviation.
In our health products business JPL, the Tetmosol brand continues to perform well, delivering robust financial performance with interesting prospects ahead. We have introduced some new product lines in the homecare category and have launched Tetmosol on social media.
I have full confidence in the leadership of our business units and the integrity of all Jagal staff. Jagal’s shared values in leadership, excellence, accountability and dynamism must triumph over the challenges we face in the current environment.
Finally on behalf of my family, I would like to sincerely wish you and your families good health, continued success and happiness in the year ahead.