OUR BUSINESS IS A CATALYST FOR GROWTH, DEVELOPMENT, AND TRANSFORMATION – Omasup Energy Services

The collapse of corporate organizations is linked to several factors. While we cannot disregard the force majeure phenomenon, failure to comply with best global practices top the list of business risks.

As businesses struggle for survival due to growing challenges, a number of them would rather stick to high standards of quality that their brand names are known for.

It goes without saying that these businesses have integrity ingrained in their operations; in fact, they have included it into their mission statements such that individuals of high repute and honor occupy their board and management positions.

Despite the fact that there are some companies that do not implement global practices in their daily operations, many more in the nation have demonstrated beyond doubt that they value their integrity by upholding ethical standards in their respective industries while continuing to be truthful in their local and international business dealings.

In this special report titled Integrity In Business- Special Report on Firms with Integrity and High Ethical Values, we will be unveiling some reputable firms in the corporate environment that have operated over the years with no blemish at local and international levels and can be relied upon business-wise.

OUR BUSINESS IS A CATALYST FOR GROWTH, DEVELOPMENT, AND TRANSFORMATION – Omasup Energy Services

In a world characterized by complexity and constant change, the importance of trust cannot be overstated. Omasup Energy Services Ltd is steadfast in its commitment to both earning and upholding the trust of our clients, which it achieves through an unwavering dedication to integrity and ethics.

The foundation of its business practices lies in a strong moral compass, with the recognition that ethical conduct and uprightness are indispensable in fostering trust, realizing success, and effecting positive change.

This exclusive report features insights from the Group Managing Director, Mr OmagoroUmuno Prosper highlighting the pivotal role of integrity in the daily business operations of Omasup Energy Services Ltd.

Additionally, the report addresses the prevalent challenges within the oil and gas industry and underscores the notable successes achieved thus far. Excerpts are included for reference.

What is the mission and vision of Omasup Energy Services Ltd?

At Omasup Energy Services Ltd, we are passionate about building a sustainable business that makes a real difference in the oil and gas industry. Our mission is to drive inclusive growth, support vital causes like healthcare, education, and environmental sustainability, and contribute to the well-being of our communities.

We are committed to understanding and managing our social, environmental, and economic impact, and our core values guide everything we do. We are dedicated to creating a better future for all, and we are excited about the role we can play in shaping a more sustainable energy landscape.

Omasup Energy Services Ltd is a stakeholder in the oil and gas sector, what core values have driven the company over the years?

At Omasup Energy Services Ltd, we are not just an oil and gas company, we are a force for positive change. We are driven by a fierce commitment to sustainability, social responsibility, integrity, excellence, innovation, and community engagement.

We believe that energy and environmental stewardship go hand-in-hand and that our business can be a powerful catalyst for growth, development, and transformation.

Our values are not just words on a page, they are a call to action that guides everything we do. Our impact may start small, but our ambition is vast. We are committed to making a difference that resonates, inspires, and leaves a lasting mark on the world.

Can you share with us the measures taken to ensure daily operational activities are integrity-driven?

Ensuring integrity-driven daily operational activities is the foundation of our success at Omasup Energy Services Limited (OESL). Our pioneering ‘OESL Cultural Wheel & Management System’ sets the standard for excellence in every aspect of our business.

This dynamic framework seamlessly integrates eight key elements: Leadership Commitment, Standards/Policies, Organization Process Management, Risk Management, Measure and Learn, Audit & Assessment, Resource Management, and Third-Party Management.

Think of it as a precision-crafted wheel, where each element connects to the centre, embodying our core values: Manage, Enhance, and Innovate. Each element is intentionally designed to be interconnected, interdependent, and mutually reinforcing, enabling a comprehensive and holistic approach to management.

This means every element can be managed, enhanced, and innovated upon, fostering a culture of continuous improvement, excellence, and accountability. Our Cultural Wheel is more than a management tool, it is a beacon of our commitment to integrity, transparency, and collaboration.

It empowers our team to strive for excellence, drives decision-making, and fuels innovation. At the heart of our system lies our Control Center, the engine of transformation and progress, where we pioneer groundbreaking solutions that redefine industry standards and drive sustainable growth.

As a player in the Nigerian oil and gas industry, what makes your organization unique?

What makes Omasup Energy Services Ltd truly unique? It is our strategic collaboration, commitment to redefining industry standards, and relentless pursuit of perfection. We don’t operate in isolation – we partner with internal and external experts to leverage the best insights and innovations.

This collaborative approach ensures every project benefits from a wide range of expertise, driving exceptional results. We are not just meeting industry standards, we are setting new ones.

Our operations are built on a pursuit of perfection, where precision and passion combine to deliver groundbreaking solutions. Innovation is at our core. We break free from traditional constraints to provide cutting-edge solutions that solve real customer problems.

Our motto, ‘Your Innovation and Research Partner,’ reflects our commitment to integrating solution research with advanced technology. Agility is key to our success. We avoid bureaucratic red tape to swiftly adapt to changes and meet evolving market demands with unmatched efficiency.

Our expertise spans the entire energy value chain, from advanced well engineering to innovative midstream solutions. This comprehensive approach ensures success at every stage, pushing the boundaries of what is possible.

To what extent would you say your company has contributed to the local content initiative?

Our commitment to local content is at the heart of everything we do at Omasup Energy Services Ltd. As a 100% local Nigerian company, we are dedicated to making a positive impact in the communities we serve.

For us, local content is more than just a requirement, it is a business imperative. We prioritize hiring and developing Nigerian talent, ensuring our workforce reflects the communities we serve.

This approach drives job creation and builds a skilled workforce in Nigeria. But our commitment to local content doesn’t stop at Nigeria’s borders. In every West African country where we operate, we incorporate as a local entity, becoming an integral part of the local economy. We empower local businesses and professionals, integrating them into our operations and supply chain.

So, how do we approach local content? We: Forge local partnerships, collaborating with local businesses to strengthen the regional industry. Source materials and services locally, keeping project value within the local economy. Invest in community development, supporting local infrastructure, education, and healthcare.

Build local capacity, training and developing professionals to lead the next generation of industry leaders In short, our presence is designed to contribute meaningfully to the regions we serve. We are not just operating in these communities, we are investing in their success.

Can you share some of the major challenges in the industry?

Firstly, infrastructure deficiencies are a major headache, hindering the efficient distribution of crude oil and refined products. Inadequate pipelines, storage facilities, and transportation networks are a significant bottleneck.

To address this, we need to upgrade critical infrastructure like the Trans Niger Pipeline and Bonny-Port Harcourt crude oil pipeline. Furthermore, regulatory and compliance issues pose another challenge.

The industry struggles with complex and frequently changing regulations like the Petroleum Industry Act (PIA) 2021, which aims to promote local content and environmental protection.

While we recognize the importance of these regulations, ensuring compliance can be costly and time-consuming. Therefore, we believe collaboration between industry stakeholders and regulators is essential to balance regulatory requirements, operational efficiency, and the need to protect the environment and promote local content.

In addition to these challenges, security concerns are a significant risk that requires a comprehensive approach. Addressing them goes beyond just protecting personnel and assets; improving the local community is a critical aspect of enhancing security.

By engaging with the community and addressing their needs, we can build trust and foster cooperation. This includes investing in social programs, providing economic opportunities, and supporting local development initiatives.

Consequently, we can create a more stable and secure environment that benefits our operations and the community. Moreover, operational costs are high, impacting profitability, and the industry must balance costs while maintaining efficiency.

To achieve the Nigerian Content Development and Monitoring Board’s (NCDMB) targets, significant investment is required to develop local suppliers and businesses. However, traditional selective programs may not be enough to bring about the best innovative ideas.

Instead, we suggest that government grants and funding be available to a wider range of innovators and entrepreneurs, allowing for a more inclusive and competitive approach to driving innovation and growth.

Similarly, environmental and social impact is another critical area that requires attention. The industry faces pressure to minimize environmental damage and enhance social responsibility.

Investing in sustainable practices and community engagement is crucial to achieving this goal. Lastly, market volatility affects profitability, requiring adaptability.

Fluctuating global oil prices and local economic conditions, including the impact of COVID-19, demand a responsive approach. In summary, addressing these challenges requires a comprehensive approach, collaboration with stakeholders, and continuous adaptation to ensure the sector’s success and sustainability.

What are the projections for the years ahead in portfolio expansions and business growth?

We are excited about our prospects at Omasup Energy Services Ltd. In the short term, we are focusing on expanding our service lines and regional presence in Africa.

We are also investing in technology and strategic partnerships to enhance our capabilities. Looking ahead, we aim to become a leading oil and gas servicing company in Nigeria and a respected player in the region.

We are committed to sustainable growth, balancing economic, social, and environmental considerations. Our goal is to support our client’s needs across the energy value chain while maintaining our commitment to excellence and innovation.