Obijackson group nestoil

Corporate Profile

An indigenous quest for global energy www.nestoil-ltd.com

We deliver results, not reasons

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The

Obijackson Group

GOBOWEN

B& Q

DR E DG IN G

H HAMMAKOPP CONSORTIUM LIMITED

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Gobowen Exploration & Production Limited

N NESTHAK

THE OBIJACKSON GROUP IN BRIEF Nestoil Limited is part of the Obijackson Group of companies. Obijackson Group is an extensive business conglomerate with diverse cross-sector interests. It operates on three continents.

The Obijackson Group, one of the fastest growing business conglomerates in Sub Saharan Africa, has made vast investments in its operating divisions such as: Oil and Gas Exploration and Production, Pressure Vessel Fabrication, Power Generation, Dredging and Marine Logistics, Aviation, Civil and infrastructural construction, Real Estate and Telecommunications.

Obijackson Group employs over 3,000 people, with operations located across Nigeria, the United States of America and the United Kingdom.

Regardless of its size, the Obijackson Group is guided by sound corporate governance with a culture of integrity, transparency, accountability, innovation and excellence.

The Group aims to enhance long term value and prosperity by means of dynamic growth, selective acquisitions and exemplary management of resources.

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OTHER MEMBERS Championing global standards of quality in the Nigerian industries is at the heart of the Obijackson Group . The structure of the Group consists of Strategic Business Units (SBUs) that offer a broad range of services.

The Obijackson Group comprises of: Nestoil Ltd., Energy Works Technology Limited, B&Q Dredging Limited, Gobowen Exploration and Production, Century Power Generation Limited, Time Power Global Dynamics Limited, IMPAC Oil & Gas Engineering, Hammakopp Consortium Limited Netav Services Limited, Scorpio Drilling International, Shipside Drydock Limited and MyTelecoms Limited.

Contact details Email: info@nestoil-ltd.com, info@nestoil-ltd.com www.nestoil-ltd.com www.twitter.com/nestoilltd www.facebook.com/Nestoil.limited

Corporate Head office (Lagos State) Africa Re-building 4th Floor, Plot 1679 Karimu Kotun Str., Victoria Island, Lagos.

Nigeria.

Tel: +234 (0) 1 2809886

Abuja: 4, Nyasa Close, Mississippi Str.,

By Ontario Crescent, Maitama, Abuja, FCT. Nigeria.

Tel: +234 (0) 9 7812122

Rivers State: Nestoil Industrial Area End of Okilo Road Abuloma, Portharcourt, Rivers State.

Nigeria.

Delta State: 67 Airport Road, Warri, Delta State.

Nigeria.

Tel: +234 (0) 53 321108

Anambra State: Hammakopp Base, Hammakopp Way,

By Madonna University Onitsha-Owerri Expressway Okija, Anambra State

Akwa Ibom State: Hammakopp Base Uyo Airport Road, ItukMbang,Uruan, Akwa Ibom State

Houston, Texas: 4400 Post Oak Parkway Suite 2530 Houston, Texas 77027 Tel: +1 713 773 9244 +1 713 773 9259 Fax: +1 713 773 9260

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Contents ii

Obijackson Group of companies in brief

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Our Vision, Mission and Values

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From the President

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Introduction

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History

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Capabilities

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Our Facilities and Equipment

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Our Activities

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Responsible Operations

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Nestoil Towers

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Our People

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Other members of the Obijackson Group

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Notes

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VISION, MISSION AND VALUES

Nestoil's vision is: To deliver innovative customer focused solutions safely

N e s t o i l 's mission is: To be the leading integrated services and innovative solutions provider in our chosen markets

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Values Our values are the code of behavior that guide our day to day conduct as an organization.

They are at the heart of our organization and a key element of how we operate.

Integrity Innovation Teamwork Leadership Excellence

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FROM THE PRESIDENT

Nestoil Limited has been innovating since our inception in 1991 as a beginner to the oil and gas industry. Even though we are now a leading Engineering, Procurement, Construction and Commissioning (EPCC) services provider in Nigeria, we are still innovating.

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As I look back on our growth over the years, I am very proud of what we have achieved from our very first project till date – with some of the largest pipeline construction projects in the nation in our portfolio. We have recorded great accomplishments because we understand the importance of constantly evolving - in our capacity, our technologies and corporate governance structure – to remain at the forefront of the industry.That spirit still defines us till today.

Presently we are constructing the following projects:

a. NNPC 48” X 127KM OBIAFU/OBRIKOM TO OBEN (OB3) GAS PIPELINE CONSTRUCTION PROJECT This is an EPC construction contract awarded to NESTOIL in the 3rd quarter of 2012. This ground breaking project is the largest and longest pipeline project ever constructed in the history of oil and gas in Nigeria. The OB3 Project as it is known basically consists of engineering, procurement, and construction of 48 X 63 KM class 600 pounds, API 5L X 70, HSAW (LOT A that was awarded to NESTOIL) from Obiafo / Obrikom CPF (Central Processing Facilities) in Rivers State to Ogbe Intermediate Pigging Station in Edo State

2014 in Review Earlier in 2013, we expanded our engineering department with the acquisition of IMPaC Oil and Gas (Nigeria) Limited from its parent company, IMPaC Offshore Engineering in Germany. With the pedigree of both Nestoil and IMPaC in their respective core areas, this acquisition is a positive development for the Nigerian Oil and Gas industry.

“We have expanded our operations by venturing into the intricate yet fascinating and technology driven world of HDD (Horizontal Directional Drilling). In delivering this service, we have created a special purpose vehicle known as NESTHAK with a Dutch company, A.Hak Drillcon, globally renowned as one of the leading lights in the drilling industry, as its technical partner. NESTHAK as our HDD services company is known is focused and specialized in implementing Horizontal Directional Drilling (HDD) techniques in pipeline construction.

The vast knowledge of NESTHAK and proven technical prowess of A.Hak combines to offer the best of both world's state of the art equipment and techniques. With NESTHAK, clients are provided with HDD that works.”

Major outstanding: Completion of welding and End facility installation which include Metering, Pigging and Compression stations, Civil, Electrical, Instrumentation and control Work

b. SPDC KOLU CREEK TO SOKU (K2S) GAS PIPELINE CONSTRUCTION PROJECT The K2S EPC Project is a 20” x 40km gas pipeline from Kolo Creek NAG Manifold to Soku Gas Plant.

The contract was executed on the 21th of June 2013.

Under the terms of the contract and scope of work, Nestoil is expected to carry out the engineering, procurement, construction, installation and commissioning (EPCIC) of a 20–inch, 40-kilometre gas pipeline, which would run from Kolo Creek to Soku, in Bayelsa State

However in 2014, the company opened new frontiers in the maritime sector with the delivery of MV OKOSISI, a 5000ton Floating Dry dock. The Floating Dry dock, to be operated and run by SHIPSIDE, will provide state of the art facilities for dry docking of vessels in Nigeria. MV OKOSISI is currently docked at Okrika Jetty ready for dry docking operations.

Nestoil equally increased its involvement and investment in the aviation sector with construction of a FOB (Hangar and Maintenance facility) in Lagos and Port Harcourt respectively.

The Fixed Base Operations facility is designed and built to compete with the best any where in the world.

Mobil

Project Outlook

The Contract was awarded with a lump-sum value of approximately US$ 225 million.

PROGRESS STATUS: Overall Project Spent Man Hour at the end of year 2014 is 388,500.

Based on the revised schedule, the target completion date is 25th December 2015.

c.

Crude Condensate Storage Settling Tank Revamp Project for

d.

The pipeline construction project for re-entry into OML 42, which involves: 8” Odidi-Export Manifold Pipeline 16” Jones Creek – Egwa 1 – Export Manifold Pipeline 20” Odidi 2 Manifold – Keremo Manifold Pipeline 8” Odidi 2 to Egwa 2 Manifold Pipeline 24” CPF – ELPS 2” Gas Flowlines Jones Creek 4” Jones Creek Gas Flowline Construction 4” Odidi Flowline Construction

We are executing these projects according to plan and are nearing completion on some of them.

Obijackson Group – Transformation Project The group has recently embarked on a strategic transformation journey. This process, in which the group is being assisted by KPMG and Execution Edge, started with a review of all the entities in the group in order to ensure that they are appropriately organized for proper efficiencies. This was closely followed by a revalidation and articulation of the group’s strategy to guide the Obijackson group through the next 5 years and beyond. As is typical, the strategy workshop involved the Board members as well as senior management staff across the various operating entities.

The strategic intent of the group is now articulated and documented. Messrs KPMG are currently designing the policies, procedures and controls that would enable the group meet the articulated strategies. This includes the design of appropriate governance structures that would guide the group’s operations on an ongoing basis and ensure that they are in line with best practices. It also involves the reorganization of people, processes and systems (including IT systems) to ensure that the group continues on the path of sustainable growth and profitability across the next generations.

It is envisaged that this project would be completed within the next 24 months Dr. Ernest Azudialu-Obiejesi

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INTRODUCTION

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Nestoil Limited is a world-class Engineering, Procurement, Construction and Commissioning (EPCC) Oil and Gas company based in Nigeria. We are BUREAU VERITAS ISO 9001:2008 certified (UKAS & ANAB) in ENGINEERING, PROCUREMENT, PIPELINE CONSTRUCTION AND ASSOCIATED FACILITY, DREDGING, RIVER CROSSING AND SHORELINE PROTECTION. With over 3,000 employees in the group – 95% indigenous – and a network of offices in 5 major cities across Nigeria (and two more overseas); a state-of-the-art Operations Base in the heart of the Niger Delta (in Abuloma, Port Harcourt, Rivers States) – containing the largest pressure vessel/offshore fabrication facility in West Africa, we are championing local content in Nigeria.

Over

3,000

employees in the Group 95% indigenous

Our scope and extensive project experience allow us to deliver – on any terrain – on a scale that no one else can.

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HISTORY AN INDIGENOUS QUEST FOR GLOBAL ENERGY

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Turning challenges and complex projects into commercial successes is at the heart of Nestoil's success story

Delta State. We surpassed every expectation with the completion of the project – in terms of quality and delivery time. We received a Shell award for excellence in quality and safety. Two other contracts quickly followed: The Opokushi Flowstation Upgrade Works

Nestoil Limited started out as the Oil and Gas arm of the Obijackson Group in 1991. At the time, local participation in the Nigerian Oil and Gas sector was very limited. Nestoil's original focus was blending and marketing petroleum products, but the new company was compelled by certain factors to re-analyse its focus. The spirit with which we overcame that challenge has continued to define us as a company till today.

“A first choice in EPCC for industry leaders, Nestoil has become a successful enterprise capable of world-class project execution and first among indigenous companies”

Driven by a desire to create real value as a Nigerian Oil and Gas company, we boldly identified an opportunity within the sector and reinvented ourselves as an Engineering, Procurement, Construction and Commissioning (EPCC) services company. Amid questions of whether an all-Nigerian company had the capacity, structure and organisation to deliver on technically complex projects, or the ability to amass the best talent to aid its cause, we persisted through several disappointments and near-misses, guided by a conviction that we were on the right path.

The Otumara Flowstation Debottlenecking Train 3 works With their completion, Nestoil began a tradition of success. Over two decades later, we have become the leading EPCC firm in the region and first choice for industry leaders such as Shell, Mobil and the Nigerian National Petroleum Corporation (NNPC). Nestoil has become a successful enterprise with over 3,000 employees in the Group (at least 95% indigenous) capable of world-class project execution and ranks first among indigenous companies of its kind.

The 'big break' was to come six full years later, when Shell awarded Nestoil a contract in 1997 to rebuild its Waste Treatment Plant in Edjeba,

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CAPABILITIES

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Nestoil Limited has developed its technical capabilities from executing some of the biggest EPCC projects in Nigeria alongside the major IOCs. We provide a complete project package from initial planning through design, procurement, construction, installation and commissioning to start up, operations and maintenance, and if necessary, to outage/shutdown.

Our services include: Pipeline/Flowlines construction, maintenance and repairs Horizontal Directional Drilling for Pipeline Construction Integrated Engineering services and consultancy Equipment procurement, fabrication and installation Production facilities-new build, upgrade, operations and maintenance Shipside Drydock services Dredging Pressure Vessel manufacture Major steel fabrication Logistics Aviation Services and Allied Logistics

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N NESTHAK

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HORIZONTAL DIRECTIONAL DRILLING FOR PIPELINE CONSTRUCTION

NestHak offers stateof-the-art equipment, several years of extensive experience and H.D.D that works!

Nestoil Limited created a special purpose vehicle known as NESTHAK for the purpose of providing and delivering Horizontal Directional Drilling (HDD) solutions to the oil and gas industry. In implementing HDD techniques in pipeline construction, NESTHAK has engaged the support of A.Hak, a Dutch company universally recognized as a leader in the drilling industry, as its technical partner. The acclaimed knowledge and expertise as well as the extensive experience of this relationship combines to provide state-of-the-art equipment, several years of practical experience and HDD that works. NESTHAK is staffed by one of the most experienced HDD crew in the world, has two rigs and plans to deploy more rigs or Pipe Pushers as it expands. The two HDD rigs consisting of one 400 ton and one 180 ton rigs ensures that NESTHAK can comfortably work on two spreads simultaneously as well as engage in intercept pullback while working on a single spread. Additionally, NESTHAK equally offers inhouse measuring equipment and surveyors as well as oil and gas industry internationally trained personnel.

These extensively experienced personnel have worked successfully for some of the world’s best known clients and users of HDD. The 400 ton HDD Rig is involved in drilling operations on Nestoil’s NNPC OB3 gas pipeline project.

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INTEGRATED ENGINEERING SERVICES AND CONSULTANCY

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Nestoil Limited has acquired IMPaC Oil and Gas Nigeria Limited. Following the acquisition, IMPaC Nigeria is now wholly owned by Nestoil but would continue leveraging on the expertise and experience of IMPaC Group worldwide because of the technical services support IMPaC offshore I GmbH will continue to provide.

IMPaC Oil and Gas Nigeria Limited has over 16 years of experience, offering a broad range of engineering and consultancy services to the oil, gas and power sectors of the Nigerian onshore and offshore energy industry. IMPaC Oil and Gas Engineering Ltd is a leading engineering services firm formed as the Nigerian arm of the larger 25 year old IMPaC Offshore Engineering GmbH with head office in Hamburg, Germany. The company's broad based engineering disciplines include process control and instrumentation, electrical, telecoms, automation, drilling, mechanical, pipeline, piping, civil, structural, naval and procurement.

phases of a project, from first concepts via Basic Design, Front End Engineering Design (FEED) and Detailed Design & Engineering right up to construction, commissioning and operation.

Based on sound designs and robust execution strategies, IMPaC develops integrated solutions and tailor-made systems utilizing: Best proven technologies Life cycle strategies Overall quality management Technical integrity management Modern operation and maintenance concepts

“IMPaC's broad based engineering disciplines include process control and instrumentation, electrical, telecoms, automation, drilling, mechanical, pipeline, piping, civil, structural, naval and procurement.�

IMPaC will continue providing multiple services throughout all

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SHIPSIDE DRYDOCK LIMITED Nestoil is expanding its facilities with the new modular floating dry-dock, constructed

by Damen Shipyards. With the floating dry dock, Nestoil is able to streamline its docking activities and meet its objectives for safe working conditions, more competitive prices, shorter lead times, high quality craftsmanship and overall reliability in client service.

T h e D r y d o c k h a s s ev e ra l structural support facilities which include Associated Workshops, Storages, Warehouse, Cleaning Areas, Offices, Training center and S e c u r i t y. T h e M V O ko s i s i Modular Floating Drydock is currently located at Okrika Creek, Port Harcourt.

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Nestav Hangar (under construction) in Port Harcourt, Rivers state

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Nesto Aviaton Services Limited

(Nestav)

Nesto Aviation Services Limited (NestAv) started as an Aviation logistics department under Nestoil, created to service the aviation logistics needs of the company. However with the increasing demands within and outside the company, and the desire to contribute to the growth of the aviation sector, NestAv is evolving into a fullfledged, self-sustaining fixed wing and rotary wing aviation services company.

NestAv's current fleet includes a Gulfstream GIV-SP 14 seat VIP configured jet, a Sikorsky S-76 C+ 7 seat VVIP configured Helicopter, and two Agusta Westland AW-139 12 seat spacious utility configured

helicopters. The company also plans to take delivery of a 9 seat VIP configured Gulfstream G200 by Q2 2015.

The company is constructing two world-class Fixed Based Operations (FBO) facilities in Port Harcourt and Lagos respectively, out of which it will operate its flights. NestAv is partnering with international aircraft management and maintenance companies in order to ensure reliable and safe operations, and is fully positioned to offer safe, reliable, comfortable and quality charter services to VIP, VVIP, and utility clients.

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OUR FACILITIES AND EQUIPMENT

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Nestoil Industrial Area, Abuloma, Port Harcourt in Rivers State, Nigeria Nestoil Industrial Area is built on 59 Hectares of Land.

It houses a Pressure Vessel manufacturing facility that is UKAS and ANAB ISO 9001:2008 certified, as well as ASME U, U2, PP, S Stamps authorized.

It also includes a steel structures fabrication workshop capable of fabricating over 17,000 metric tonnes of steel structures per annum with a thickness of up to 130mm.

It has a prime waterfront jetty providing easy access to the ocean.

It is powered by its own transformers and generators.

With a capacity to harbor over 100 vessels, it is a major hub for receiving our equipment.

Our principal operations base was built by Julius Berger Plc. We upgraded it to include a fabrication workshop, pressure vessel manufacturing facility and jetty. The 59 hectare facility has an extensive waterfront measuring 1.2 km in length, and the capacity to harbour over 100 vessels of fuel and bunker stations, floating bunker platforms with gangway, among others. We have also included a steel warehouse to house some heavy duty equipment such as welding machines, light source machines, industrial generators, excavators, dumpers and other components.

Nestoil has another operations base located in Warri in Delta State. The base is located in a prime location of Warri – very close to the airport. We also have a jetty in Edjeba, Warri, Delta State. The jetty spans 50,000 square metres. Located in a prime area as well, it provides easy access through the waterways to the ocean and is another vital hub for receiving our equipment.

Due to our rapid expansion and increased activity both in construction and manufacturing/fabrication, we recently constructed various tonnage of badges for movement of heavy goods and equipment across the jetty.

In addition, we have offices in Lagos (Head Office), Warri, Delta State, Uyo in Akwa-Ibom State and Port Harcourt, Rivers State.

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EQUIPMENT

Nestoil has acquired a lot of equipment used to carry out all the projects it has executed through the years.

We pride ourselves on full ownership of all our equipment. Our equipment include a variety of Earth movers, Marine Vessels and Swamp equipment.

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Houseboat – Accommodation for River, Swamp and Offshore operations

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Pulling barge with hydraulic winch pulling system used for pipeline river-crossing

Cranes, Heavy lifting equipment, Excavators, Barges – For various intricate operations wholly owned by Nestoil

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Auto Welding Machine

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400 ton HDD Frame Rig

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OUR ACTIVITIES Nestoil's experience covers the entire value chain, from oil and gas Engineering and Procurement to Construction and Commissioning.

The majority of our projects are geographically challenging, marked by swampy and muddy terrains.

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PIPELINE CONSTRUCTION A. OB 3 PROJECT (LOT A) Overview

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Project:

48� diameter Gas Pipeline from Obiafu/Obikrom to Oben

Location:

Rivers State/ Bayelsa State/ Delta State/ Edo State

Client:

Nigerian National Petroleum Corporation (NNPC)

Terrain:

Land (dominant) and seasonal swamp

OB3's 48� diameter gas pipeline is the largest pipeline ever constructed in Nigeria, and the first phase of Nigeria's Gas Masterplan.

We are currently constructing LOT A, which involves the Engineering, Procurement and Construction of the Pipeline from Obiafu/Obrikom Central Processing Facilities in Rivers State to Ogbe Intermediate Pigging Station in Edo State.

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PIPELINE CONSTRUCTION B. K2S PROJECT Overview

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Project:

20� Gas Pipeline to reroute Kolo Creek Gas to Soku Gas Plant

Location:

Bayelsa State

Client:

Shell Petroleum Development Company SPDC

Terrain:

Swamp

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PIPELINE CONSTRUCTION C. NCTL PROJECT (PACKAGE A) Overview

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Project:

Nembe-Cawthorne Channel Trunkline Replacement

Location:

Bayelsa State/Rivers State

Client:

Shell Petroleum Development Company (SPDC)

Terrain:

Mangrove Swamp/ Creeks

The NCTL project involved replacing over 1,000 km of deteriorated major pipelines and flowlines. We completed Package A of the project which involved constructing a pipeline in a harsh swampy terrain to traverse 3 cluster communities and 100 independent communities in Bayelsa and Rivers State.

Installing the pipeline required us to make 7 major river crossings and another 44 smaller rivers or creek crossings. We performed extensive dredging activities (clampshell, floating equipment and suction dredging), as well as fabricated and installed 2 new Tie-in manifolds at Nembe and San Barth, which hook up to 6 other manifolds, 4 pig traps and associated piping.

We completed and commissioned this project in September 2010, one month ahead of schedule – without a single fatality in spite of the potential security risks from the communities. The project earned us several commendation awards from Shell. Additionally, we performed dredging and crossing of Krakrama and San Barth Rivers.

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PIPELINE CONSTRUCTION C. NCTL PROJECT (PACKAGE A)

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FACILITIES UPGRADE A. CSTR PROJECT Overview

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Project:

Crude Condensate Storage Settling Tank Revamp

Location:

Oua Iboe Terminal (QIT), Eket, Akwa Ibom

Client:

Mobil Producing Nigeria (MPN)

CSTR is designed for the rehabilitation and facilities upgrade of all existing Mobil Crude and Settling Tanks in QIT. We are executing the project which involves Engineering, Procurement, Fabrication, Construction and Installation activities.

We are carrying out structural fabrication, corrosion control of the tank, mechanical E & I installation and Foam system piping, among other procedures.

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FACILITIES UPGRADE B. OPUKUSHI PROJECT Overview

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Project:

Flowstation Development Works

Location:

Delta State

Client:

Shell Petroleum Development

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FACILITIES UPGRADE C. OTUMARA PROJECT Overview

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Project:

Otumara Flowstation debottlenecking Train 3 Works

Location:

Delta State

Client:

Shell Petroleum Development Company

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OTHER PROJECTS Kolo Creek-Rumuekpe Trunkline Replacement Project (KCTL) -SPDC

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OTHER PROJECTS Emergency Gas Supply to PHCN Power Plant & Metering Station At Alaoji - NGC

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OTHER PROJECTS Domestic Gas Supply (DOMGAS) - Mobil

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OTHER PROJECTS Ekulama Soku-San Barth Pipeline Project - SPDC

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OTHER PROJECTS BELEMA DELIVERY LINE REPLACEMENT PROJECT - SPDC

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To learn more about our projects, please visit: www.nestoil-ltd.com

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CLIENTS Our Clients include, but are not limited to:

Shell Petroleum Development Company SPDC

Mobil Producing Nigeria Unlimited MPN

Nigeria National Petroleum Corporation NNPC

Nigeria Gas Company NGC

Nigerian Petroleum Devlopment Company NPDC

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RESPONSIBLE OPERATIONS

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At Nestoil, we strive to make a positive impact with regards to CSR, developing local content, health, safety and the environment.

2013 awarded Nigerian Content Investment Award by Shell Petroleum Development Company

Contributing to Nigerian Content

component parts of our EPC contracts

Nestoil's very existence is based on principles of Nigerian Content development. Its founding in 1991 – 19 years before the Local Content Act came into law, was in a bid to champion significant participation by indigenous companies in the oil and gas sector. We pride ourselves on being one of the exemplary companies, with respect to local content actualization in Nigeria. The framework for Nestoil's local content engagement strategy is as follows:

Community Development:

Manpower Development: Employment is skewed towards giving first preference to the best available locals.

Material Resources:

We operate a detailed Community Affairs Policy Commendation: We were awarded the 2013 Nigerian Content Investment Award by Shell Petroleum Development Company

To learn more about our Nigerian Content outline, go to: www.nestoil-ltd.com For our awards and commendations, please visit: www.nestoil-ltd.com

Nestoil Limited maintains a modern facility located in Abuloma within Port Harcourt, Rivers State which boosts its operation and enhances the Nigerian Content dream of “Adequate incountry Facility.

Local Collaboration/Use Of Subcontractors: Local companies participate in

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QUALITY The function of quality management exists throughout our organisation to ensure that the performance criteria of our services are continuously met. We owe our clients, services that not only meet statutory quality demands, but exceed their requirements.

We continuously upgrade our quality standards, as verified by our certifications and commendations.

Nestoil Limited is BUREAU VERITAS ISO 9001:2008certified (UKAS & ANAB) in the following Scope: ENGINEERING, PROCUREMENT, PIPELINE CONSTRUCTION AND ASSOCIATED FACILITY, DREDGING RIVER CROSSING AND SHORELINE PROTECTION. With this, Nestoil officially joins the league of ISO 9000 Series As A World Class EPC Company.

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Health, Safety and Environment We continuously work to reduce risk and hazard to the health and safety of our employees, subcontractors, community, stakeholders and the environment through a steadfast commitment to the following HSE Objectives: We are conscious of the health and safety of our people, our clients and the local communities in which we work and it retains priority at all level. We constantly aim to provide a safe workplace for employees, contractors and visitors.

We adopt a proactive philosophy in the implementation of risk management by applying a management system of international standard.

Visible management and supervisory commitment is demonstrated throughout our operations. Our HSE initiatives are managed by a team of dedicated and highly regarded workplace Health, Safety and Environment specialists and we incorporate these concepts in training, communication and motivation programs of all stakeholders.

employees' health and safety by remaining committed to the following HSE objectives: Zero Fatality.

Zero Lost injury.

Zero Fire incidents.

Zero Environmental incidents.

Zero Occupational Health illness.

Zero violation of legal requirement.

The result of our continuous improvement and steadfast commitment to Health, Safety and Environmental programmes is that at the end of 2014 business year, Nestoil has successfully achieved a 5.6million man-hours of project work without LTI (Lost Time Injury).

We continuously work to reduce risk and hazard to the environment and the

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CERTIFICATES AND PLAQUES:

HSE Capability

PSW-CVL HSE- MS in place Award

PSE 2001 HSE milestone (10M LTI Free man hours, HSE MS certification and recertification) achievement

3.5 M LTI Free Operations, Nembe Creek Field Logistic Base/ Engineered Landfill project.

1M LTI Free man Hour Performance Merit, NCTL project.

Best Overall Performance Award by Mobil Producing Nigeria.

Outstanding Performance achievement of over 2M LTI/Fatality Free Man hour on NCTL

TO LEARN MORE ABOUT OUR AWARDS, PLEASE VISIT www.nestoil-ltd.com

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Nestoil management has consistently demonstrated strong leadership capability in Health Safety and Environment matters in line with the company's policy of Zero tolerance to incidents.

This is achieved by management constantly improving through planning and review of the work process for a suitable and effective management system.

The leadership of our organization demonstrates commitment to HSE by proper allocation of time and resources to HSE and by giving it equal priority with work completion or milestone achievement. For us continual improvement in HSE can only be achieved in a culture where all elements of the management system are

allowed to flourish and where leadership set the HSE style of our organization by providing an enabling environment for safe work.

Our firm and committed approach to HSE has yielded outstanding results in series of successful project delivery without LTI. This feat has been severally recognized by our clients and rewarded accordingly with certificates and plaques.

Serving Communities in sustainable ways Through its Obijackson Foundation, Nestoil builds a stronger society by educating its host communities and providing locals with avenues for growth and development.

Wherever we operate, we make it a policy to improve the welfare of our host communities. We take our community responsibilities very seriously because we are passionate about people, and we operate by the creed that we are at our best when we are helping others grow and develop.

generally worked with communities on initiatives not limited to: Supporting education through scholarships, grants and building of schools Providing academic education Providing infrastructure

We conduct our community-based progammes mainly through our foundation – Obijackson Foundation, a non-profit organisation which works across communities to help inhabitants develop in a number of ways.

Our specific focus is to target social and economic catalysts that would help people advance themselves and their surroundings. Our approach varies from community to community, but we have

Providing job opportunities and vocational training Providing sports development through our Obijackson Annual Football tournament Promoting values through our cultural programmes

To learn more, visit the Obijackson foundation at: www.obijacksonfoundation.com and After all, working together for a better www.obijacksonchildrenshospital.com

society is what the word Community is all about.

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Nestoil Towers

Our new corporate headquarters

Designed as the pioneer 'Green' building, the first of its kind in Nigeria, the structure is being built to meet the Leadership in Energy and Environmental Design (LEED) standards of certification.

Another testimonial to Nestoil's commitment to a culture of innovation and environmental consciousness is our headquarters building, Nestoil Towers (under construction – to be completed in 2015) in Victoria Island, Lagos, Nigeria. It has been designed as the pioneer 'Green' building, the first of its kind in Nigeria. Comprising 15 floors, the structure is being built to meet the Leadership in Energy and Environmental Design (LEED) standards of certification and has a Silver rating. LEED was developed by

the U.S. Green Building Counsel to provide a framework for applicable and measurable green building solutions.

With Nestoil Towers, a certified green building, Nestoil is offering its occupants the opportunity to respond to some of the most important challenges of our time – climate change, over dependence on non-sustainable sources of energy and threats to human health – with an ecologically responsible solution.

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OUR PEOPLE

We welcome people who contribute towards making our business the best there is with their individual drive and tenacity.

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Board of Directors Nestoil's Board of Directors subscribe to the highest standards of Corporate Governance to serve the interests of our company, our clients and the community. We strongly believe that good corporate governance principles are essential to our business integrity and performance. Our robust governance structure is the bedrock of our organisation and promotes strategy, risk management, adherence to regulatory policies and leadership development.

Professor Anya O. Anya - Chairman Hon DSc, FAS, NNOM, OFR

Conferred with the Nigerian National Order of Merit (NNOM), the highest award in Nigeria, for distinguished academic achievement.

Professor Anya O. Anya is a Fellow of the Nigerian Academy of Science, a Chartered Biologist, a Fellow of the Institute of Biology of the United Kingdom and a renowned Professor of Zoology. He had a distinguished academic career in the University of Nigeria during which he served as the first Director of the School of Postgraduate Studies, Dean Faculty of Biological and Pharmaceutical Sciences, and Member of the Governing Council of the University.

He is credited with numerous scientific and non-scientific publications. In 1992, he was conferred with the Nigerian National Order of Merit (NNOM), the highest award in Nigeria, for distinguished academic achievement.

Chairman of the Governing Board of the Nigerian National Merit Award, and he currently serves as ProChancellor and Chairman of the Governing Council of the Michael Okpara University of Agriculture, Umuahia as well as the Chairman of the Board of Trustees of the Alpha Institute for Research in Science, Economics and Development.

Professor Anya also sits on or has served on the Board of several other successful companies as Chairman or Director. He is also engaged in various advisory capacities on ways and means to grow the economy. He was recently appointed as a member of the Advisory Committee on National Dialogue.

He has held several important public service positions including President of the Nigerian Academy of Science, founding CEO of the Nigerian Economic Summit Group,

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Board of Directors Dr. Ernest Azudialu-Obiejesi, DBA President/CEO

Honoured worldwide in acknowledgment of his exceptional vision and leadership in building successful companies from the ground up.

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Dr. Ernest Azudialu-Obiejesi obtained his BSc. degree in Accountancy from the University of Benin. He was honoured by the University of Nigeria Nsukka with a Doctorate Degree in Business Administration. He first founded Obijackson West Africa Limited in the early 1980's before diversifying into the oil and gas industry with Nestoil in 1991. He has attended numerous local and international seminars in business management and project implementation, and other structural training programmes in Oil & Gas service in Africa, the United Kingdom and the United States of America.

For his services in the oil and gas industry, he received the 2011 THISDAY Young Global Champion Award for excellence and good governance. In August 2012, Ernest was awarded an All Africa Business Leaders Award (AABLA) by Forbes, CNBC and ABN for West African Entrepreneur of the Year, in acknowledgment of his exceptional vision and leadership in building a successful company from the ground

up. The Nigerians in Diaspora Organisation Americas also honoured Dr. Azudialu-Obiejesi in Washington DC with the Nigerian Business Person of the Year 2012, for his notable business acumen, global strategic planning, effective use of resources and developing alliance partnerships in multiple spheres for new economic development in Nigeria. He was also a finalist at the Ernst and Young Entrepreneur of the Year Finalist (Master Category) and received the Businessman of the Year at the Mode Men of the Year Awards in December, 2012. In 2013, Dr. Azudialu-Obiejesi received a Nigeria Advancement Award for 'Oil and Gas Man of the Year.' In 2014, Dr. Azudialu-Obiejesi was awarded the Zik Prize for Excellence in Business Leadership.

Dr. Azudialu-Obiejesi sits on the board of Directors of several companies including Julius Berger Nigeria PLC, and is the Chairman of the Board of Neconde Energy as well as Smile Communications.

Mr. Olaiya Orlando Ojo Mr. Olaiya Orlando Ojo is a Fellow of the Institute of Directors, Nigeria and a Sloan Fellow (with Distinction) of the London Business School. He has had over 35 years of long and varied operations, management and board experience working in companies in Nigeria and abroad. He retired from Shell in Nigeria in 2006 as General Manager (Value & Relations) within Shell Exploration & Production – Africa. He has directly managed major IT, corporate planning, marketing and logistics and supply functions in these organisations at the Management and Executive Directorship levels. He was Managing Director for National Oil & Chemical Marketing Company (predecessor of Conoil), Director of Operations of Shell Togo, General Manager of Société Togolais de Stockage in Lome, Togo; and Managing Director of Nigeria Shell Gas Limited. He has also consulted for health

management companies in the Carribean and Puerto Rico. He served as the member of Board of Atlantis Healthcare Group, Puerto Rico; Chairman First Guarantee Pensions Limited (one of the first twelve licensed for pension fund administration in Nigeria). He has set up his own organisation, Third Opinion business advisory consulting practice – Amsa'in Management Consultants Limited – working with a network of other associates in various parts of the world with offices in London, UK and Lagos, Nigeria.

He was educated at the University of Ibadan, Nigeria; Imperial College, University of London, UK; London Business School, UK; and holds further postgraduate degrees from three other British Universities: Ashton University, Lancaster University and Ashridge Business School.

Dr. Theo C. Osanakpo, SAN Dr. Theo C. Osanakpo, SAN is an accomplished legal practitioner and Senior Advocate of Nigeria. He holds a Doctor of Philosophy (PhD) degree in Law from the University of Exeter in England. He is a Fellow of the Chartered Institute of Arbitrators of United Kingdom.

He has held positions of responsibility at different times namely - Chairman, the 7th Governing Council of Federal University of Technology, Owerri; Chairman of the Presidential Special Visitation Panel to University of Abuja, and one-time Chairman of

Finbank Plc. He is a devout Christian of the Catholic faith. He has had the singular privilege of being decorated with Papal Honours by Pope John Paul the Second, with Knight of Saint Gregory in 1992 and Pope Benedict the 16th the Pope Emeritus with Knight Commander of Saint Gregory the Great in 2009.

He is married to Dame Helen Osanakpo, a recipient of Papal Knighthood of Saint Gregory the Great and they are blessed with four children

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Nnenna Obiejesi, LLM Trained in the University of Nigeria, Nsukka, and the London School of Economics in England, Nnenna holds an LLM in International Business Law. She has over 26 years of local and international experience in legal matters, business planning and development.

Over 26 years of local and international experience in legal matters, business planning and development.

advocacy under experienced and versatile Principals.

She joined the Nestoil in 1991. She is a member of the Nigeria Bar Association and an associate of the Chartered Institute of Arbitrators (UK).

After her call to the Nigerian bar, she worked with Messrs Chike Chigbue & Co. (SAN) and Ike Obiora & Co. Legal Practitioners. At these firms, she practiced forensic

Keith Jones After spending 20 years with Babcock (UK) in the Pressure Vessel and Boiler Industry in both Engineering and Commercial senior positions at various locations, Keith came to Nigeria with Babcock in 1992 as the Project Director on the NNPC Butanization Project.

The project, consisting of 4,000 tons of large pressure vessels, was the first of its kind to be fabricated in Nigeria. While in Nigeria, Keith has been responsible for the

manufacture (locally) of over 200 pressure vessels in carbon steel, clad and stainless for the Nigerian Oil and Gas Industry.

He has recorded major accomplishments in his time with Nestoil and the Obijackson Group including building and developing the Energy Works Technology facility to an ISO certified steel structures fabrication and pressure vessel manufacturing facility – the only one of its kind in West Africa.

Hans Christ Hans joined the Obijackson group with over 38 years' experience in the construction, Oil & Gas, and Finance Industry in Germany and Nigeria.

He worked in the biggest

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construction company in Nigeria – Julius Berger Nigeria (JBN) for 30 years. His last position there was Commercial Director. He has managed several international joint ventures and projects.

Dr. Chukwueloka Umeh

A graduate of GE's prestigious Edison Engineering Leadership Development Program (EEDP), he has 5 US Patents and over 14 technical publications.

Dr. Umeh is the MD/CEO of Century Power Generation and a Director of Nestoil Limited – both subsidiaries of the Obijackson Group of companies.

He joined the Group in February, 2011 from General Electric Aviation, in Cincinnati Ohio, USA, and brings years of seasoned engineering, manufacturing, program management and managerial experience. While at GE's Global Research Center in Niskayuna New York (2001 - 2007), he was responsible for the development of several technologies used to increase efficiency and reduce emissions on land-based and aviation gas turbine engines, in addition to modifying fuels for advanced aeronautical engines. He held positions of increasing responsibility in GE, and was an Engineering Manager of a large engineering team in GE Aviation responsible for the design and manufacture of the combustion

systems on several commercial and military aircraft engines, including the CFM56, Cf34, LEAPX, TECHX, Honda Hf120, and F110.

Dr. Umeh holds several engineering degrees, including a BEng in Electronics Engineering from the University of Nigeria, a BSc in Aerospace Engineering from EmbryRiddle Aeronautical University, Florida, and an MSc and PhD in Aeronautical Engineering from Rensselaer Polytechnic Institute, Troy, New York. He is a graduate of GE's prestigious Edison Engineering Leadership Development Program (EEDP). He has 5 US Patents and over 14 technical publications.

Dr. Umeh is a philanthropist, and volunteers his spare time to mentor students and young professionals.

Dr. Okechukwu John Mbonu, FNSE Dr. Okechukwu John Mbonu graduated as a Mechanical Engineer from Manchester University, England where in 1977; he obtained a BSc degree (with first class honours). He was later awarded the Manchester University Noel Philip Bedson Research Scholarship which in 1982 led to the award of a PhD degree in Mechanical Engineering.

John started his career as an engineer with Nigerian Breweries Plc in 1982. He was appointed the Group Engineering Manager of the company in 1990. In 1996, he was "seconded" by Nigerian Breweries Plc to Shell Petroleum Development Company of Nigeria (SPDC) on

contract to set up the Special Intensive Training Programme (SITP). He returned to Nigerian Breweries Plc in late January 1999 to assume-the position of Head of Personnel. He was elevated to the Executive Board of Nigerian Breweries Plc in November 1999 as the Human Resource Director. In November, 2001, he was appointed as Customer Service Director of Nigerian Breweries Plc. He has been a Director at Pricewaterhouse Coopers Nigeria since 2009.

He was appointed into the Nestoil Board of Directors in 2013.

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Energy Works Technology Limited (EWT) EWT is an ISO certified manufacturer of Pressure Vessels, Process Plant Equipment, as well as Oil and Gas Steel Structures Fabricator also offering EPCC services. Energy Works is capable of fabricating:

2014 EWT successfully rolled the first of three Clad Plates, being 90 + 4mm thick clad, weighing 20 tonnes for SPDC Soku Nag Separator.

This is a first for the Nigerian Fabrication Industry.

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Process Modules and Packages for Onshore and Offshore Production Facilities Pressure vessels and Process Piping (Separators, Scrubbers, knock-out Drums, Slug Catchers, Manifold Skids, PIG Launching and Receiving facilities, Metering Skids, among others).

Steel Equipment and Structures (Jackets, Platforms, Foundation/Suction/Anchor Piles, Buoys) EWT is UKAS and ANAB ISO9001:2008 certified as well as ASME U, U2, PP, S Stamps authorized. EWT guarantees products and services to meet with International codes' specification and best practices as well as customer requirements. EWT facility is located within the Nestoil Operations Base in Abuloma, Port Harcourt and consists of 26,082 sqm of covered workshops, 8,100 sqm of open construction area and 600 sqm of painting area. Other components are: 12,900 sqm of material laydown/temporary storage

area; 210m long quay with 15m draft. Yard bearing capacities range from 10 tons/sqm for light fabrication areas to 140 Tons/sqm at heavy fabrication areas. The EWT facility is equipped with: Plate rolling capacity up to 130 mm thick Plate cutting capacity, 300mm thick using modern CNC machine equipped with Plasma Semiautomatic welding machines 316 Stainless steel weld overlay for stainless steel cladding Lift by overhead cranes of up to 100 tonnes The biggest heat treatment furnace in Nigeria The facility is capable of 27,000 tons of fabricated steel structures per annum, with thickness of up to 130mm and SMAW, FCAW, TIG, SAW and Combination Welding processes.

Recently, EWT successfully rolled the first of three Clad Plates, being 90 + 4mm thick clad, weighing 20 tonnes for SPDC Soku Nag Separator. This is a first for the Nigerian Fabrication Industry.

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B&Q Dredging B& Q and Marine Logistics Limited (B&Q) DR E DG IN G

B&Q Dredging and Marine Logistics Limited is an indigenous Nigerian Company providing excellent dredging & marine logistics services of Global standard.

Using a multinational team of highly motivated and experienced staff, B&Q provide dredging, flood and erosion control, shoreline protection and consolidation, canalization, urban Renewal and reclamation to National & Sub-National Governments; Government Agencies, Energy, Construction, and Oil & Gas industries.

B&Q's focus is not only to expand our business volumes, but also to support its clients to achieve their objectives while preserving the environment and host communities. Their policy and continuing objective is to exceed clients' expectations by providing excellent services, which not only meet statutory, technical and contractual requirements, but are also quality consistent.

B&Q commenced operation in 1996 as a subsidiary of the indigenous conglomerate, OBIJACKSON GROUP which includes Nestoil Limited and others. Following its meteoric growth and need to consolidate on its leadership in the industry,

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B&Q embarked on a massive acquisition of marine assets. This strategic initiative repositioned B&Q as the foremost indigenous and a leading dredging & marine logistics service provider in Nigeria.

B&Q maintains offices and marine facilities at the 59 Hectare Nestoil Industrial Layout at Abuloma, Port-Harcourt, Rivers State with a large workshop and work area for open air storage, sensitive items storage, and above ground storage tanks (AST) with a floating dry dock.

B&Q Dredging Limited owns the largest dredging and marine logistic fleet in Nigeria.

B&Q Dredging Limited owns the largest dredging and marine logistics fleet in Nigeria. www.bqdredging.com

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HAMMAKOPP CONSORTIUM LIMITED

Hammakopp Consortium Limited Hammakopp Consortium is a civil construction company, incorporated in Nigeria in 1991. Its clients include State and Federal government, oil and gas companies and private individuals. Hammakopp is wholly engaged in Road and Civil construction, Maintenance and Fabrication, Environmental protection and Sewage Treatment.

Hammakopp deploys a combination of local and foreign professionals to deliver excellent, cost effective services to its clients – services which not only meet statutory technical and contractual requirements, but are also consistent in quality. Hammakopp has expanded its civil construction activities with a massive acquisition of road construction equipment including bulldozers (D6), Excavators, Payloaders, Roller Compactors, Sheep Foot Compactors, Pavers, Pneumatic Rollers, Graders, Concrete Batching Plants. The company has installed its own Asphalt Plant, located in its Okija Base and has the capacity of turning out approximately 120 tons of top

grade asphalt products per hour.

Hammakopp Consortium Limited has made remarkable strides in broadening its civil and road construction operations and geographical influence with an expansive new facility in Uyo, Akwa Ibom State, to participate in civil infrastructure development in the region. Hammakopp still retains the 17-Hectare Hammakopp Construction Base in Okija, Anambra State, and have boosted personnel with the addition of highly skilled senior local and international recruits. www.hammakoppconsortium.com

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GOBOWEN Gobowen Exploration & Production Limited

Gobowen Exploration & Production Limited Gobowen is an Oil and Gas Exploration and Production company. Gobowen holds a 45% interest in Oriri Marginal Field (OML 88) shallow offshore Niger Delta. In 2013, Gobowen acquired 51% participating interest in OPL 917 (onshore block).

45% equity in the Oil Mining Licence 42 (OML 42) in April, 2011. OML 42 contains 12 developed oil fields located in the swamps in the Niger Delta Area of Nigeria. Full production from the block is estimated at 100,000 – 150,000 barrels per day.

Gobowen holds a major stake in the Neconde Energy Limited consortium which acquired the

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The Power Companies Century Power Generation Limited (CPG) and Time Power Global Dynamics Limited (TPGD) are power generation and distribution companies respectively, pursuing opportunities presented by the Nigerian Government's policy regarding private power generation.

Century Power Generation Limited (CPG) and Time Power Global Dynamics Limited (TPGD) are power generation and distribution companies respectively, pursuing opportunities presented by the Nigerian Government's policy regarding private power generation.

CPG is a power generation company, created as a Special Purpose Vehicle (SPV) to acquire and develop existing power plants in Nigeria, as well as build new power plants via IPPs to help boost the nation's installed power capacity. CPG is currently developing a 1500 MW power plant in Okija, Anambra State, Nigeria. The plant would be a Combined Cycle Power Plant (CCPP) to be built in three phases.

Following an international bid process, CPG has selected GE, Julius Berger and Daewoo as the EPC contractors for construction beginning in January, 2016. The

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three phases are: Phase 1 – which is ongoing – involves the construction of a 495 MW (ISO) Open Cycle Power Plant (OCPP) consisting of multiple E-class gas turbines, with provisions to add Heat Recovery Steam Generators (HRSGs) and steam turbines in a later phase.

Phase 2: Extension of the 495MW OCPC to a 750MW (ISO) CCPP by the installation of HRSCs and a steam turbine.

Phase 3: Installation of a second 750 MW (ISO) CCPP block (i.e. 500MW OCPP + 250MW Steam turbine).

Commissioning of the plant's full capacity is scheduled for the second half of 2018.

CPG is currently developing a 1500 MW power plant in Okija, Anambra State, Nigeria. The plant would be a Combined Cycle Power Plant (CCPP) to be built in three phases.

2016 Following an international bid process, CPG has selected GE, Julius Berger and Daewoo as the EPC contractors for construction of their Power Generation Plant beginning in January, 2016.

The project site is a 31.9 hectare plot of virgin land wholly owned

by CPG, and is situated along the Onitsha-Owerri express road. The site is bordered on the East by the Ulasi River and on the West

by Onitsha-Owerri express road.

It is approximately 25km from the Oguta gas fields, about 15km from Nnewi (a major Nigerian industrial and economic centre), and 25km from Onitsha (another major economic area).

economic and reliable electricity supply in the urban and rural areas, increasing the number of registered customers, and reducing distribution losses.

As an indigenous company, TPGD is fully committed to help alleviate Nigeria's power shortage issue in metropolitan, rural and remote communities around the country. www.century-power.com www.timepowerglobal.com

TPGD is an SBU that was created to participate in the ongoing effort to increase Nigeria's electricity distribution by increasing customer access to

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