Firm revives idle $28m oil rig after eight years

Nestoil Group, an indigenous Nigerian oil firm, has brought back its Pathfinder 500 drilling rig after a hiatus of eight years, marking a milestone in the company's efforts to revive mature oil wells in the Niger Delta. The Pathfinder 500, one of two rigs purchased by Nestoil Group for approximately $28 million, was mobilized to the Oil Mining Lease 42 (OML 42) by Scorpio Drilling International, another unit of the group.

The rig successfully completed workover operations on two producing wells in OML 42 without any Health, Safety and Environment (HSE) incidents, contributing to incremental oil production from the asset. Nestoil Group's Chairman, Ernest Obiejesi, described the deployment as a significant milestone for the company, showcasing Nigeria's growing indigenous drilling capacity and the company's commitment to developing local drilling infrastructure.