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Xodus to Unveil New Joint Venture in Nigeria

09 May 2011

Xodus Group, the Aberdeen-based energy consultancy, will today launch a joint venture in Nigeria as the African state looks to double its oil production to 1,800,000 barrels a day.

The Scottish company and Nigerian firm Mos Baker are investing $1 million (£610,000) between them in Xmos, which will be based in the city of Lagos.

Xmos will initially employ 20 staff but aims to grow its headcount to 100 within the next three years.

The joint venture will begin by offering services covering "process and facilities, flow assurance and subsea engineering" but Xodus said it ultimately wants to roll out its full suite of services, including "technical safety, environmental and subsurface capabilities".

Colin Manson, the Scottish firm's chief executive, said: "Setting up a joint venture is a first for Xodus and we are making the move now because we have tremendous confidence in the size of the opportunity in Nigeria and in our new partners.

"Many of the new developments will be in very deep water off the Nigerian continental shelf, where our subsea and technical credentials, integrated field development and front-end experience are ideally suited."

Sam Unuigbe, a former director of Stanbic IBTC Bank and owner of Mos Baker, will take on the role of chairman and his son, Ohioze Unuigbe, will be managing director.

Rod McInnes - who has previously worked in west Africa and with ExxonMobil, Statoil and Texaco - has been appointed operations director of Xmos.

Manson will sit on the board of Xmos, along with Xodus directors Stephen Swindell and Dave Rayburn.

Although the Nigerian operation will be Xodus' first joint venture, the company has recently been expanding, with its American office opening in Houston in March to target the western hemisphere and a vibration measurement division being set up in Southampton last month.