Could you introduce SPIE Global Services Energy?

SPIE Global Services Energy is part of a French-listed group with a strong legacy. The company has been present in Nigeria for almost 47 years. SPIE was involved in significant infrastructure projects, such as the construction of the original refinery in Port-Harcourt, as well as various civil and pipeline projects. Over the years, we have streamlined our focus to core energy services, including maintenance, commissioning, E&I and shutdowns.

Our strong reputation for safely delivering high-quality services has set us apart in an industry where cost-cutting can sometimes lead to reliability issues. In 2019 we faced challenges due to our higher pricing. However, with the pandemic, many of these lower-cost competitors defaulted while we remained operational and continued delivering as promised. This reliability led clients to return to us, reinforcing our market position.

Another key aspect of our resilience is our investment in local talent. We prioritize local workforce development, which reduces costs and ensures long-term sustainability. Our deep- rooted commitment to Nigeria has made it our second largest market, and our broad industrial capabilities, from offshore maintenance to commissioning and shutdowns, continue to set us apart.

How do SPIE's Nigerian operations differ from its other global operations?

While in other markets, SPIE often primarily provides technical assistance and workforce supply, our Nigerian operations have evolved into a fully integrated service provider. We offer comprehensive solutions, from maintenance contracts with measurable outcomes to turnkey commissioning projects. 

Another key differentiator is our investment in training and skill development. We have established a world-class training center in Port Harcourt, which is certified to OPITO Level 2 standards. This facility

is unique in Africa and serves our internal workforce, clients, and local community members. We ensure that 50% of our trainees are women, helping to address gender imbalances in the industry.

What is SPIE's presence in other key West African markets?

SPIE has a significant presence in Angola, Ghana, Senegal and Côte d'Ivoire. Angola is our largest market, where we primarily focus on maintenance, offshore modifications and operational support. We also work with Eni in Congo while maintaining and operating 100% of Eni's gas processing facilities in Ghana. Senegal has been an interesting but challenging market for us. We secured significant contracts in hook-up and commissioning over the past two years, but we did not win long-term maintenance contracts, which has led to a gradual reduction in our activities there. On the other hand, Côte d'Ivoire is showing strong potential, especially with Eni driving investments in the region. However, this growth is partly tied to challenges in Ghana, where political and regulatory issues have slowed projects.

How do you perceive Nigeria's industry and economic situation?

Nigeria is at a crucial turning point. While the country faces significant challenges, recent policy changes have been positive. Removing fuel subsidies, floating the naira and regulatory streamlining have created a more predictable and transparent business environment. These reforms have been difficult in the short term but are necessary for long-term economic stability. However, government targets for increasing oil production to 2.6 or 2.8 MMb/d are unrealistic in the short term. Major players are launching new projects, and previously stalled divestment transactions are moving forward. One of Nigeria's biggest untapped opportunities is gas development. The country has massive gas reserves that could transform its energy sector. Infrastructure investment and regulatory support will be key to unlocking this.

The rise of Indigenous energy companies is one of the most significant shifts in the sector. Historically, SPIE has worked primarily with IOCs. However, Indigenous players are taking on a more significant role as IOCs continue to divest from onshore assets. We are adapting our business model accordingly. The onshore presents new opportunities, and as Nigerian companies build capacity, we expect to see even more collaboration between SPIE and local operators.

What is your overall outlook for SPIE and the energy sector?

Recent policy changes have created a more favorable investment climate. The renewed commitment to regulatory improvements and infrastructure investment is encouraging. With our strong technical expertise, investment in local talent, and commitment to long-term partnerships, SPIE is well-positioned to continue growing in Nigeria and West Africa.