International Shipbuilding and Repair Facility in Nigeria West Africa Available to Purchase

The Capricorn Maritime Limited group plans to build an extensive shipbuilding and repair center which will serve the region of West Africa. The Capricorn group has chosen to locate the shipbuilding and repair center at Ibaka, Mbo Lga., Akwa Ibom State, Nigeria near the city of James Town, Nigeria. Herman J. Schellstede & Associates, Inc. of New Iberia, Louisiana, U.S.A. has been awarded the technical contract to construct the shipbuilding and repair facility. The west coast of Africa has proven oil reserves from Senegal in the north to Cameroon in the south. The reserves are located both onshore and offshore with a high degree of reserves lying near and in the Delta areas. Nigeria has long established their position as a leader in the oil and gas industry. Nigeria contributes 2.37 million barrels of oil per day to the marketplace. A large portion of Nigerian oil is expedited by marine vessels to various sales points throughout the world. In recent years, deep water leases have been awarded in Nigeria. Many of the leases have been drilled and reserve reports have been produced. The three major markets which are offshore, near shore and onshore, require different drilling and completion equipment. Drill ships, jack-up rigs, semi-submersibles provide drilling in offshore waters. Drilling barges, both swamp and posted, are employed in near shore applications and land-based drilling rigs are employed onshore. The requirements to maintain and repair the drilling fleet are of great importance. In order to support the offshore and near shore operations, various manner of crafts are required such as dredges, workboats, crew boats, tug boats and supply barges. These marine vessels are also joined by coastal and open sea cargo ships which transport the crude oil to the marketplace. The government of Nigeria has changed and a new approach to the energy market is evident. The new government pledges that the "Nigerian content" laws will be upheld. (Nigerian oil and gas industry content development act NOGICD.) A detailed explanation of the development act is being enforced and being accepted throughout the country of Nigeria. The Capricorn facility considers the Nigerian development act and has directed their planning to accommodate the spirit of the laws. The Capricorn facility, integrating proven management methods of the oil and gas industry, is designed to offer shipbuilding, repair and maintenance services for the shipping and oil and gas industries of the coastal region of West Africa and to also accommodate governmental contracts for the servicing of naval as well as commercial fleets. An initial market survey and a production document for the shipyard facility review are also discussed herein in a preliminary manner. The facility, management and financial support are considered world-class and will result in a very profitable and acceptable return on investment. The nine major shipyards, which have been studied, illustrate various building and expansion programs which were implemented to accommodate future contracts. Only a few shipyards reviewed exhibited controlled expansion events. The Capricorn project will provide preplanned expansion methods to control the required growth. The final design will also integrate the most advanced materials handling equipment and construction methods available today. During the last 100 years, the United States has constructed major shipyards which were fundamental in the advancement of the United States as a prominent world leader. At the time of war, highly efficient shipyards were necessary and in great demand to provide vital servicing of vessels and equipment. The review of the U.S. shipyards will provide assistance in outfitting the Nigerian facility with the most up-to-date and efficient components including the expertly designed platforms equipped with modern advancements. As a result, the Capricorn facility will be one of the most innovative and efficient facilities built in the world today. The country of Nigeria will be the location of the first major shipbuilding and repair center constructed in recent times due to the urgent need for a comprehensive facility in this region. In the near future, the region of West Africa will be very active in the transportation of crude oil and the drilling and production from offshore leases. The specialized marine vessels required for transportation of crude oil and drilling/production are well identified. The Capricorn shipyard will benefit greatly from the advancements of over 100 years of shipbuilding developments and innovations. A complete transformation of certain areas in the undeveloped properties and waterways of Ibaka, Mbo Lga., Akwa Ibom State, Nigeria is being undertaken to produce a world-class shipyard and repair facility which will provide support to the oil and gas industry of this region.